According to the latest reports, Shadows Network has revealed that it has managed to generate $1.64 million for the expansion of the services. The firm has revealed that it has managed to achieve this goal with the help of some prominent capitalists who are part of the blockchain ventures.
Shadows Network is a synthetic asset issuance protocol that has been built on Substrate and runs on a decentralized platform.
Shadows Networks exists as a platform for trading and is currently based on the Polkadot system. The firm has revealed that it is almost done with the funding round that was part of its strategic financing program.
The firm has confirmed that it has gathered all the energy and potential it could gather and now it is time for the platform to be launched. The firm has officials announced that it no longer plans on waiting in the shadows and will soon be launching its services in the decentralized finance (DeFi) sector.
The development team of the project has also expressed the intentions as to what it wants to do in the DeFi sector. As per them, the industry is still not fully democratized and their goal is to make that happen at the earliest.
Furthermore, the other goal that the platform wants to achieve as soon as it launches is to provide users with the exposure they need with respect to assets.
The platform has revealed that its goal is not only to provide awareness and exposure around cryptocurrencies. But it aims to do it with the rest of the online trading instruments as well such as commodities, indices, stocks, forex, and many more.
The team at Shadows Network has also revealed that through the platform, the users will have the option of trading through on-chain assets no matter where they are at that time.
The platform has also claimed that it will eventually become Web 3.0’s backbone in terms of store of value.
While undergoing the funding round, Shadows Network has emerged successful in ensuring that it has strong relationships with other investment ventures.
The firm has announced that during the funding round, it has managed to bring many investment partners to the table. It has been confirmed that the investment firms involved in the funding round are very prominent and famous in their fields.
Some of the most honorable and high-profile investors include Master Ventures, JRR Crypto, Cryptomeria Capital, Blocksync Ventures, AU21 Capita, and Cryptomeria Capital.
These firms would eventually be offering their assistance and guidance to Shadows Network to ensure that the network is able to launch on the right track for good. It has been revealed that the support from the experts and higher-ups would prove to be very insightful, influential, and professional.
The firm has confirmed that through the right backup and decent amount of investments, the Shadow Networks would eventually gain a lot of recognition.