- Shield Finance announces the completion of its private fundraising round.
- The event successfully reached the hard cap amount of $780,000.
- The IDO will take place on May 19th, 2021, 11:00 AM UTC at PAID Network’s Ignition Launchpad.
Denis Gorbachev, CEO of Shield Finance said,
With a number of insurance players in the market, a multi-chain insurance aggregator will naturally attract users as a go-to place to buy insurance. This fundraise will be instrumental in driving the growth and development of Shield Finance.
With that said, Shield will also conduct its public Initial Dex Offering (IDO) on May 19, 2021. This will take place on PAID Network’s Ignition Launchpad at 11:00 AM UTC.
Of note, Shield Finance is a multi-chain DeFi insurance aggregator allowing users to buy protection against major market crashes. These crashes are due to black swan events like hacking, exploiting, rug pulls, and other related DeFi risks. In addition, Shield utilizes an engine to provide custom insurance packages for investors’ needs. With Shield, users can see and select offers from multiple insurance providers without leaving the token platform.
Furthermore, Shield combined with its seasoned team attracted immense support from market innovators. More so, these innovators include Master Ventures / PAID Network, DAO Maker, Zokyo, NGC Ventures, Spark Digital Capital, GD10 Ventures, Titan Ventures, and others.
Over the last year, the decentralized finance movement has been growing. In December 2019, it’s only $700 million, but as of April 2021, it is now over $65 billion. DeFi gives users full control over their money and financial future. However, this freedom comes with some drawbacks. There are several risks they have to take into consideration including market crashes, price volatility, and security issues.
Without a doubt, Shield aims to dominate the crypto insurance market. They are planning to partner with DeFi exchanges, wallets, and farms. Moreover, their platform is launching more exciting features. They plan to release these updates including a web app and an increased number of partnerships with insurance providers.
This article was first published on coinquora.com