According to Foresight News, DeFi protocol developer Intensity Labs has completed a $6.9 million seed round of financing with a valuation of $69 million, led by Polychain Capital and dao5, with participation from institutions and angel investors such as Arrington Capital, Arthur Hayes Family Office Maelstrom, Build-a-Bera, Cobie, Ansem, Ser Shokunin and Meltem Demirors.
The funds raised will be used to hire more employees in the engineering department to help scale the network powered by Shogun, developed by Intensity Labs. Shogun is an intent-centric DeFi protocol designed to maximize trader extractable value (TEV), which is the potential maximum profit that a trader can extract through several trading strategies.