Intensity Labs, the creator of the "intent-centric" DeFi protocol Shogun, has secured $6.9 million in seed funding.

Polychain Capital and DAO5 co-led the round, with participation from Arrington Capital, Maelstrom, and Build-a-Bera. Angel investors such as Cobie, Ansem, Ser Shokunin, and Meltem Demirors also contributed.

Co-founder Rahul Patel said the fundraising started in January and was oversubscribed by mid-February. Initially aiming to raise $5 million, the project increased the amount to $6.9 million due to high demand. The funding round was structured as a simple agreement for future equity (SAFE) with token warrants, bringing Shogun's fully diluted token valuation to $69 million.

Shogun, which was incubated by Binance Labs, aims to maximize trader extractable value (TEV) through a hybrid liquidity routing model. It will offer a unified platform for accessing tokens across multiple blockchains, akin to what Plaid does for fintech.

The Shogun protocol will be rolled out in phases, starting with an on-chain routing tool in Q2. Its token, GUN, will be launched alongside. Intensity Labs plans to expand its team to support Shogun’s growth.