Shade Protocol sets SHD burn deadline for Feather eligibility

Shade Protocol announced that only SHD tokens burned before 18:00 UTC on Aug. 21 will qualify for future Feather allocations. Holders have limited time to decide whether to permanently destroy their tokens under undisclosed terms. The deadline coincides with the winding down of Shade's Secret Network applications. To participate, holders must use Shade's burn form, submit SHD, and provide an Ethereum-compatible address. The transaction is irreversible and permanently destroys the SHD. Details regarding Feather's allocation ratio, amount, price, and distribution date remain undisclosed, with no guarantee of specific amounts or timelines. Missing the deadline results in loss of Feather eligibility, while meeting it costs the SHD itself. As of 07:48 UTC, the Shade app showed 4,658,007 SHD burned globally and 3,718,238 SHD in supply, though the supply figure is not verified. Additionally, Shade's notice included a warning about a proposed SCRT migration snapshot on Sept. 1, which was rejected by Secret voters. Instead, proposal 365 was passed, allowing SCRT to remain on the current chain. SCRT Labs plans to cease development for the Cosmos-based Secret L1 on Sept. 1, while the community aims to continue the network. Shade's focus has shifted to the reliability of its applications during the wind-down, urging users to withdraw from pools and lending products, while SHD holders must meet the 18:00 UTC burn cutoff for Feather eligibility.

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