SHD Holders Must Burn Tokens by August 21 or Miss Out on Mysterious Feather Allocation

Shade Protocol's warning to its token holders has turned into an ultimatum as the deadline for burning SHD tokens looms. The protocol, which is wind-down its Secret Network applications, has instructed SHD holders to burn their tokens by August 21 at 18:00 UTC in order to qualify for a future Feather allocation.

The burn process is irreversible and will permanently destroy the SHD tokens. However, it's unclear what terms holders can expect from the Feather allocation as the ratio, amount, price, and distribution date remain undisclosed.

Shade has also warned that missing the deadline for burning SHD tokens will cost holders their eligibility for the future Feather allocation. Meanwhile, SCRT Labs plans to end its development and support for the Cosmos-based Secret L1 on September 1, although a community-continuance upgrade is scheduled to continue the network under new stewardship.