Welcome to ShieldDAO
What’s the Purpose of ShieldDAO (sDAO)?
Shield is a Decentralized community of blockchain product users, who vote, take decisions, delegate, index and curate blockchain assets. Shield is born of the Cover hack with the objective to improve security, prevent hacks, while protecting Community lnvestment and Protocol integrity. Shield is comprised of a group of synthetic yield farmers’ asset pairs built and tokenized on Ethereum. The goal of Shield is to provide decentralized, trustless, and non-KYC gated leveraged assets for providing Liquidity, Insurance, Staking, Governance, Lending and Borrowing. Shield assets do not require fund re-balancing or any form of debt. This system enables various unique benefits. Foremost, there is no need for an individual counterparty, which substantially reduces counterparty risk. Assets always retain 100% liquidity. Shield supports assets, commodities, or indices that have public decentralized oracles. All fees generated from asset purchasing and selling are distributed to Shield holders who stake tokens and to liquidity providers.
Shield is aimed at Improving Blockchain User Experience, securing data using The Graph Protocol and Creating Social Utility Products for ease of living.
The ShieldDAO Global Community
Shield runs on the Ethereum blockchain as a decentralized application designed by a diverse group of contributors, including developers within the Shield Group, its outside partners, other individuals and entities. Shield will be managed by a global community of its token holders via a system of scientific governance involving Executive Voting and Governance Polling. Shield holders govern the Protocol and its financial risks to ensure its stability, transparency, and efficiency. Shield is a decentralized, unbiased, Multi Asset-backed cryptocurrency. Shield will be held in cryptocurrency wallets or within platforms, and supported on Ethereum and other popular blockchains. Users Farm Shield by depositing assets into Vaults within the Shield Protocol. This is how Shield is entered into circulation and how users gain access to liquidity. Others can obtain Shield by buying it from brokers, exchanges, or simply by receiving it as a means of payment.
FAQ:
1. Who is Eligible for the Cover to Shield Migration?
Those that bought or held Cover before 12/31/2020.
2. Will Cover CEX Holders receive Shield tokens?
We will be working with exchanges to facilitate a fair distribution; in the event it does not workout, a swap frame will be specified, which will allow NewCover holders to receive Shield tokens.
3. What is the swap ratio of Cover to Shield? 1 Cover : 1 Shield.
4. How does Shield generate Liquidity?
- Community Funding
- Institutional investment
- Strategic partnership
- Product sales
- Data Indexing with Graph Protocol
- Liquidity Mining with Reef DeFi
Concerning Airdrops and Swap:
All community members holding Cover will be awarded Shield tokens based a snapshot of their Cover holdings prior to 12/31/2020.
Migration from Cover to Shield will be announced via Medium.
- If you have your Cover on Binance, kindly hold till NewCover is issued.
- We will deploy all our efforts to assist community members mitigate their Cover losses.
- Tickets will be opened to determine lot size for all affected community member.
- DO NOT Buy Cover expecting to get Shield tokens. Only those Cover token holders who held Cover before 12/31/2020 are eligible for the Cover to Shield migration.
