Shade Protocol Snapshot Q&A and Updates
Greetings Shade Protocol community,
On November 7th, 2021 at 5:00 pm UTC +0, the snapshots for the Shade Protocol update began. These snapshots will come to a close December 13th at 5:00 pm UTC +0.
There has been a range of questions asked since the beginning of snapshots. The aim of this blog post is to offer clarity whenever possible, but before we tackle some of these questions we need to start with the two guiding principles all feedback operates under:
Some Shade community members are frustrated by the lack of clarity surrounding Principle #2 in terms of the language of “no guarantee” versus an outright no. Please see Principle #1 for clarity concerning why this language was chosen for Principle #2.
Continuing onwards, the following are a set of questions from the Shade community surrounding snapshots, airdrop, and staking:
Thank you to everyone involved in the Shade Protocol community! It has been two months since Shade Protocol on Secret Network was announced to the world. Since then, we have seen exponential growth of the community (telegram up to 6.5k, twitter to 15.5k) as excitement has continued to build! We are excited to have you part of the journey, and invite you to contribute to the protocol and community 🙂 Your engagement and energy is deeply appreciated!
Shade Protocol is an ambitious array of application-layer products focused on a simple end user experience that involves the incorporation of privacy by default. These interconnected privacy-preserving DeFi products built on Secret Network will change DeFi as we know it — empowering the next generation of value creation and exchange. Shade Protocol is launching Silk: a privacy-preserving over-collateralized stablecoin pegged to a basket of global currencies and commodities, built on Secret Network.
Without privacy, DeFi is incomplete. Traditional financial markets offer a degree of privacy for users, and as a result offer up greater protections in some capacity than existing DeFi markets. Shade Protocol will be the world’s first truly cohesive decentralized and privacy-preserving financial applications — ushering in a golden era for Web3. Shade Protocol will always push for privacy by default, privacy as an expectation, and privacy as the key to unlocking the full value of a decentralized future.
But we can’t do this without community. We need you to join our community and help make Silk and Shade Protocol a reality.
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