The substrate-based decentralized issuance protocol for synthetic assets states that it received $ 1.64 million from prominent blockchain risk-takers.
Shadows Network, a trading platform powered by Polkadot, concludes a round of strategic funding and says it is ready to step out of the shadow of the DeFi world.
The company’s goal is to democratize financing and give investors access to assets, including stocks, commodities, indices and more. Allows anyone to trade assets along the entire value chain anywhere, and the platform describes itself as “the backbone of Web 3.0 as a store of value.”
Shadows Network highlights the strategic investment partnerships it has entered into, and AU21 Capital, JRR Crypto, Blocksync Ventures, Master Ventures and Cryptomeria Capital are among the prominent investors hired to provide expertise and guidance as the launch approaches.
Shadows Network CEO Iror Chen said: “We are pleased to attract all of these investors. They are all professionals, influencers and wise. With its investment and support, Shadows Network will be a great success in the DeFi room. ”
According to the company, all partners are determined to develop long-term relationships that will help them in their future prospects – unlike others who want a quick return on investment and a quick end.
Spotlight on Shadows Investors
Investors supporting Shadows include AU21 Capital, which has previously supported high-profile exchanges, including Binance and Huobi. According to the company, she was also an early investor in Polkadot – it acts as a member of the Polkadot Venture Network as well as the Polkadot DeFi Alliance.
They are joined by JRR Crypto, a fintech group dedicated to groundbreaking innovations related to the traditional financial sector. The venture capital firm says it has over $ 2 billion in assets under management. Headquartered in Switzerland, with offices in Shanghai, Singapore, Hong Kong, Beijing and Taipei.
Shadows Network also referred to Blocksync Ventures when making investments. “Our philosophy works because we invest in relationships, not in agreements,” the company said on the website. Offers are just offers. We build exceptional relationships with long-term companies and work together with convictions about projects. The founders we work with share our collective vision of revolutionizing the blockchain movement. ”
Master Ventures, with over thirty years of consulting and incubation experience, aims to create the next generation of blockchain-based Web 3.0 innovations in cryptography, while Cryptomeria Capital has close ties to industry leaders and the diversity of Chinese “Tier 1″ cryptocurrencies in the media. …
Alphabit, DFG, DuckDAO, GBV Capital, NGC Ventures, WaterDrip and 3Commas are among the other strategic investment partnerships supported by the Shadows Network, and the company claims that each investor offers a unique experience in the DeFi worlds and Polkadot blockchain infrastructure. Several of the companies currently involved in the project have also contributed to the success of other well-known projects, including Chainlink, Ocean and Icon.
More information from Shadow Network here
An innovative approach
The Shadows Network says it can bring trillions of dollars of offline financial assets to the Polkadot ecosystem through synthetic asset agreements.
The company’s website states: “Everyone can own their assets in the network. Cross-border trade and transactions can take place without regulation or supervision. ”
According to the platform, synthetic assets are necessary because there will always be people who cannot or will not own the underlying asset.
Shadows COO President and Co-Founder Ted Shao recently announced at AMA that their first demo of the product will be launched this month, with many exciting utility cases coming in 2021.