Shade Protocol is urging SHD token holders to burn their tokens before August 21 at 18:00 UTC to remain eligible for a future Feather allocation, with terms still undisclosed. The burn mechanism is irreversible and guarantees no specific amount, price, or timeline for the distribution. As of August 21 at 07:48 UTC, 4,658,007 SHD tokens had already been destroyed out of a remaining supply of 3,718,238 units. Meanwhile, Secret governance rejected proposal 360 to migrate SCRT to Arbitrum, and approved proposal 365 to maintain the existing L1 network under new stewardship. SCRT Labs still plans to end technical support for the Secret L1 on September 1.
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