Shield Finance Completes a $780K Round To Create a DeFi Insurance Aggregator Leading Up to an IDO
Summary
As thousands of retail investors enter the attractive DeFi marketplace, there are a variety of risks they have to take into consideration, including market crashes, price volatility and security issues. Operating as a decentralized swapping protocol, Ignition allows blockchain-based token projects to offer their private and public auctions to participants, leveraging both PAID Network and Polkadot technology. Shield Finance is a multi-chain DeFi insurance aggregator that allows users to buy protection against major market crashes due to black swan events, like hacks, exploits, rug pulls and sell-offs. Incubated by Master Ventures (MV Fuel), Shield utilizes a proprietary aggregation engine to provide custom insurance packages for investor needs. Every quarter, it redirects 50% of fees generated by users to buy the $SHLD token on the open market and burns it, which results in permanent reduction of supply.