Blocksync Ventures Invests in Synthetic Assets Startup Shadows Network

We’re pleased to announce that Blocksync Ventures has completed an early stage investment in Polkadot project Shadows Network.

A decentralized protocol for issuing, trading, and lending synthetic assets, Shadows Network is the first project to bring synths to Polkadot’s Substrate framework of interconnected parachains, with all the potential this brings for disrupting a multi-trillion dollar market.

It is our belief that tokenized synths will be one of the major growth areas in crypto over the next five years, as more and more value is represented onchain, where assets can be traded permissionlessly 24/7.

Why Shadows Network?

Blocksync Ventures was founded with a mandate to seek out the most innovative projects building web3 solutions, with a particular focus on the Polkadot ecosystem. Shadows Network ticks all the right boxes, and boasts an accomplished team who are capable of building out their impressive tech.

The case for recreating traditional assets onchain shouldn’t need much explaining: in our view it’s the natural evolution of financial markets, enabling global access to stocks, commodities, indices, and much more. The upside in bringing this financial infrastructure to a blockchain environment cannot be overstated; Synthetix already has $2 billion in value locked into its protocol. Shadows Network is building an entirely new infrastructure for synthetic assets on Polkadot’s more scalable and interoperable framework, without the constraints that are inherent to Ethereum.

Projects such as Synthetix and Mirror Protocol have demonstrated the demand for tokenized stocks, fiat currencies, and commodities in a crypto context. Shadows Network will take these primitives to a new level by pioneering an interoperable ecosystem for synthetic issuance and trading on Polkadot.

Shadows Network is building out a versatile cross-chain solution that will enable real-world assets to be traded by anyone, anywhere. The potential use cases for this technology are limitless, and we’re excited to support the Shadows team as they build out their protocol, heralding a new era for synthetic asset swaps.

Shadows Network CEO Iror Chen said: “Blocksync Ventures were the first investment firm to really get what we’re building, and recognize the value of provisioning synthetic assets within Polkadot’s scalable, Substrate environment. With their support, we look forward to delivering on our long-term roadmap and capturing a slice of the multi-trillion dollar financial markets that are ripe for being recreated onchain, where anyone can participate.”

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Shadows is a hub for issuing, trading, lending and borrowing synthetic assets