According to TechFlow, Intensity Labs, the developer of the intent-centric DeFi protocol Shogun, announced the completion of a $6.9 million seed round of financing with a valuation of $69 million. Polychain Capital and DAO5 led the investment, with participation from Arrington Capital, Arthur Hayes' family office Maelstrom and Build-a-Bera, as well as angel investors such as Cobie, Ansem, Ser Shokunin and Meltem Demirors.
Shogun is building a platform similar to fintech giant Plaid, but for web3. The Shogun protocol will be released in phases, starting with on-chain routing tools in the second quarter of this year. The protocol will also have its own token, the ticker GUN.