Home›Crypto›Market Structure›Shade sets Aug. 21 deadline to burn SHD for potential…

Shade sets Aug. 21 deadline to burn SHD for potential Feather allocation

Shade says SHD burned before 18:00 UTC on Aug. 21 qualifies for a future Feather allocation, while the token burn is irreversible and terms like the allocation ratio and distribution date are not disclosed.

Reported · Written up by our desk · Market Structure

Shade Protocol has opened a burn form that requires holders to permanently destroy SHD before 18:00 UTC on Aug. 21 if they want to qualify for a later Feather allocation, with the specific allocation ratio, amount, price, and distribution timing left undisclosed, according to CryptoSlate.

The burn process involves submitting SHD through Shade’s form and recording an Ethereum-compatible address. CryptoSlate reports that the burn is irreversible, and missing the deadline means holders forfeit Feather eligibility, while meeting it costs the SHD itself.

CryptoSlate also notes the Shade app displayed global burn and supply figures around 07:48 UTC on Friday, but the SHD supply label shown there was not presented as a verified count of what remains eligible to burn. The app loaded on-chain data and bridge controls, and wallet connection was required to attempt burning or other actions.

Separately, CryptoSlate reports that Shade’s warning previously referenced a proposed Sept. 1 SCRT migration snapshot, but Secret governance changed course after voters rejected proposal 360, which would have set exclusions tied to migrated SCRT. With a community-continuance plan approved instead, Shade’s deadline messaging has shifted toward the reliability of its applications and infrastructure during its wind-down, while SCRT operational transition still points to a Sept. 1 milestone.

Latest closeEthereum $2,411.23 ▲3.6%

More like this

Sources