Today, Shogun has announced two major pieces of news, their seed funding information, as well as their first official GALXE campaign.*
Learn more about Shogun as detail emerge on it’s Index page.
*The first GALXE Quest and its 6900 OAT Badges were minted out in under 3 hours. The second, “unlimited” campaign for loyalty points only was launched soon after, and closed a little over a week later on Saturday, May 18th.
Seed Round Funding Details
Shogun, built by Intensity Labs, has raised $6.9 million in its seed round, led by Polychain, Maelstrom, and Arrington. Shogun was previously incubated by Binance Labs. With a 10% allocation in this round, Shogun’s current valuation stands at $69 million. This was first announced earlier today, 5/15/2024 by The Block.
The Manifesto
Arguably more interesting than the seed announcement is Shogun’s first official blog post, which is reality, is more of a manifesto. The team is taking a unique approach, focusing on what end users want — users of all shapes and sizes.
TL;DR Summary
Shogun critiques the crypto industry’s focus on extracting value from traders while investing millions in AI-powered solutions that offer little practical benefit. On-chain trading feels outdated, and developers often create solutions for non-existent issues and audiences.
The core thesis is simple: traders want the best trading experience, not industry hype. They see through the high FDV/low float meta and infrastructure larp, seeking an easy, fun platform without needing a computer science degree.
Shogun’s plan involves a phased release to build a community of traders who love the platform. Key features include Smart Order Routing to eliminate multiple swap UIs, an intent-centric model for faster cross-chain interactions, and Intensity, a home for intent-centric apps. Their strategy, the Reverse Mullet, emphasizes user benefits over tech details. The mission is clear: deliver the trading experience and features traders crave.
This is a war cry. A rally for not just Gunslingers, but all of Web3 that feels they’ve been let down by the industry so far. Dive into the full article, here.
GALXE Campaign
The other impactful piece of news centers around the release of their first official community engagement campaign, run through GALXE.
➡️DIVE IN HERE⬅️
This campaign offers Loyalty Points (for future use👀) as well as NFT badges, known as “OATS”. There are a total of 6900 OATs that can be minted on a first come first serve basis.
The campaign, or “quest” as GALXE calls it, is comprised of 3 sets of tasks, each offering some amount of points as well as 1 OAT mint when completed in full. This means that any one wallet has the ability to earn up to 3 Badges, at least until all 6900 have been minted.
A quick callout to aid you in your Quest, one of the 3 tasks is a simple referral program, which we recommend you tackle ASAP if you’re trying to get all 3 available OATs as the number of people not already signed up will shrink fast. Also important to remember is that the people you refer have to actually participate in the quest for it to properly credit you.
These mints require NO GAS as it’s covered by the Shogun team.
Beyond this, Shogun is quickly gaining a reputation across all of Web3 as a community and team doing things a bit differently. It’s hard to explain it in words exactly, as it’s more of a vibe.
One that I myself have been working hard to cultivate.
And we invite you to join us on our journey, and to share in the beautiful and based vibes that our community maintains 24/7. Join us on Discord. Ohio.
This article was written by TendermintTimmy, Co-founder of ICI & Community Lead for Shogun.
