Shade Protocol Raises $5M

Shade Protocol has recently closed a $5,000,000 private raise to build privacy-preserving DeFi applications on Secret Network – starting with Silk, a privacy-preserving stablecoin native to Secret Network.

This $5M in capital will be used to support core protocol contributors and developers to continue their mission of bringing DeFi to privacy on Secret Network — unlocking untapped potential in the world of stablecoins, synthetics, and DeFi.

Shade Grants

 Shade Grants program — share an opportunity for developers and builders to integrate and build Shade Protocol primitives. Funded in $SHD managed by core contributors, Shade Grants will be used to support critical growth initiatives for Silk adoption, Shade Protocol integrations, community initiatives, and user tooling. Shade Grants will target core Shade Protocol metrics such as revenue, TVL, accessibility, and availability.

This exciting announcement carries forward our momentum from our initial announcement of Shade Protocol in September. With more key primitives being funded and built, more community members getting involved with Shade Protocol, and more supporters and partners than ever helping to ensure our global growth, the future has never been brighter for Shade Protocol and Silk.

ABOUT Shade Protocol
Shade Protocol is an array of connected privacy-preserving DeFi applications built on Secret Network. Launching on Shade Protocol is Silk: an algorithmic stablecoin native to Secret Network with transactional privacy by default.

RESOURCES
Secret Network Blog

Source: https://thebittimes.com/shade-protocol-raises-5m-tbt12135.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam

Category: DeFI News

Post by: TheBitTimes.com