How Does the Shield Finance $SHLD Token Work?

$SHLD works similarly to $BNB and $FTT tokens: it implements a “buy & burn” program, enables governance & provides staking rewards.

Buy and Burn

A key feature of the $SHLD token is its “buy & burn” program. Shield Finance uses 50% of fees generated every quarter to buy $SHLD on the open market and burn them. Burning reduces the circulating supply on the market, thereby reducing sell pressure.

Governance

Another feature of the $SHLD token is governance, which allows holders to shape the future of the protocol by voting for changes. All $SHLD holders will be able to vote on the fee structure & other contract parameters.

Once the votes are submitted and vetted, the changes will take place automatically across all smart contracts on the platform.

Governance systems enable users to influence the future of the project and align with fundamental cryptocurrency ideals like decentralization, inclusivity, and transparency.

Staking

The final feature of $SHLD token is staking, which allows holders to earn 30% stable APY on $SHLD tokens. Please note that holders need to lock the tokens for at least 1 month to earn APY, which means they can’t be sold while they are staked.

Ending Remarks

The Shield Team is committed to protecting investor assets and continually adding utility to the ecosystem through the $SHLD token. With multiple uses and benefits, the $SHLD token is a useful asset for investors and traders.

About Shield Finance

Shield Finance is a multi-chain DeFi Insurance Aggregator that allows users to buy protection against major market crashes due to hacks, exploits, rug pulls, sell-offs, and other black swan events. We are currently integrating multiple insurance providers to provide our users with reduced slippage and expansive coverage.

For any questions about Shield Finance, please reach out to us on:

Website: shieldfinance.io

Telegram: @ShieldFinanceHQ

Twitter: @ShieldFinance

Medium: @ShieldFinanceHQ

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