Shadow
Shadow provides a developer platform enabling crypto and DeFi engineering teams to generate custom onchain data via offchain execution environments that mirror Ethereum, Optimism, Arbitrum, and Base state in realtime, accessed through a versioned RPC and exported to Postgres, Dune, and S3.
- Company typePrivate
- Founded2023
- HeadquartersNew York, United States
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Shadow does
Shadow operates a developer platform that enables crypto and DeFi engineering teams to generate and consume custom onchain data without modifying the underlying public blockchain. The company's core offering is built around "shadow forks" — offchain, read-only execution environments that mirror the state of a public blockchain (currently Ethereum mainnet, Optimism, Arbitrum, and Base) in realtime, while running a modified EVM that imposes no gas costs or contract size limits. Users can deploy modified versions of any verified smart contract at the same address, define custom event logs and view functions, and query the resulting dataset via a versioned RPC endpoint (Shadow RPC) that is fully backwards compatible with standard Ethereum tooling. Supporting infrastructure includes re-org-aware Postgres database syncs, scheduled and one-off data exports to Dune Analytics, GCS, and S3, an open-source shadow node implementation (shadow-reth) built on Reth, and a decentralized registry of public shadow contracts (Shadow Registry) stored on IPFS and registered on Base EAS.
The product surface targets four overlapping developer personas — protocol developers, DeFi engineering teams, onchain analysts, and Web3 application developers — with use cases spanning custom indexers, gas optimization, contract observability, and analytics dashboards. Shadow monetizes through a freemium tier (free trial rate-limited to 60 RPC requests per minute), monthly Shadow Fork and Pro Shadow Fork subscriptions (the latter unlocking historical RPC backfills and recurring exports), and usage-based pricing at $0.0003 per shadow event — roughly 1,000x cheaper than equivalent mainnet event logs. Go-to-market is product-led and API-first: developers self-serve at app.shadow.xyz, swap their RPC URL for a Shadow RPC URL, and discover the product via technical documentation, a Telegram developer community (shadow_devs), GitHub (shadow-reth), and detailed case studies (Pendle, Uniswap). Named customers include OP Labs, Pendle Finance, Uniswap, Usual Money, Revert, Everclear, and Cove — predominantly DeFi and blockchain-infrastructure teams. The company is headquartered in New York, operates under the legal entity Ionic Labs, Inc., and raised a $9 million seed round led by Paradigm in December 2023.
Shadow firmographics
Firmographics- Name
- Shadow
- Legal name
- Ionic Labs, Inc.
- Website
- https://shadow.xyz
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Shadow provides a developer platform enabling crypto and DeFi engineering teams to generate custom onchain data via offchain execution environments that mirror Ethereum, Optimism, Arbitrum, and Base state in realtime, accessed through a versioned RPC and exported to Postgres, Dune, and S3.
- Ownership category
- akta.pro rank
Shadow industry classification
Industry- Product category
- Blockchain Data Infrastructure
- akta.pro primary industry
- Smart Contract Developer Platforms & Tooling (SDKs, APIs, frameworks, indexing) (FSAPAAAH)
Keywords
Where Shadow is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Markets served
Shadow business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Shadow Fork Plans (Subscription): Paid subscription plans for shadow fork access. Includes Shadow Fork plans and Pro Shadow Fork plans. Free trial available for new users with rate limits (60 RPC requests per minute).
- Usage-based Pricing: Shadow events are priced at $0.0003 per event on Shadow (vs $0.31 per event on Ethereum mainnet). Free trial accounts are rate limited to 60 RPC requests per minute.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Free Trial - Entry level access for evaluation |
| Subscription | Monthly | Shadow Fork Plans - Paid production access |
| Subscription | Monthly | Pro Shadow Fork Plans - Advanced features |
| Usage-based | Pay-as-you-go | Shadow Starter plan pricing |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Shadow product offering
Product offeringCore offering
Shadow provides a developer platform for Ethereum and other EVM chains that uses offchain read-only execution environments (shadow forks) to mirror mainnet state in realtime. Developers can add custom gasless event logs and view functions to any deployed smart contract, then access the resulting data via a versioned JSON-RPC endpoint, real-time Postgres syncs, or scheduled exports to Dune Analytics, GCS, and S3.
Product overview
Shadow is a developer platform for Ethereum-focused data workflows, providing a unified platform that combines shadow fork infrastructure, a versioned RPC, and multiple data export options. The core offering consists of the Shadow Platform with Shadow RPC, Shadow Focks (offchain execution environments mirroring mainnet), Shadow Contracts (modified deployed contracts), Shadow Events (custom gasless event logs), and Shadow Nodes. Supporting features include Contract/Event Catalog for organization, Test Runs for verification, Database Syncs for real-time Postgres streaming, One-off Exports and Recurring Exports to Dune, GCS, and S3. The portfolio also includes shadow-reth (open source shadow node) and the Shadow Registry (decentralized registry of public shadow contracts).
Differentiator
Problem solved
Functional benefit
Products and services
- Shadow Platform A self-serve developer platform that enables teams to spin up shadow forks of Ethereum and other EVM chains, add custom shadow events and view functions to any verified contract, and stream the resulting data to a database or export target.
- Shadow RPC A versioned JSON-RPC endpoint that behaves like a standard Ethereum RPC but contains additional shadow event data, with backwards compatibility for existing web3 tooling.
- shadow-reth An open source shadow node built on Reth, licensed under Apache 2.0 and MIT, that allows anyone to generate shadow events via Execution Extensions and retrieve them via a custom RPC extension (shadow_getLogs).
- Shadow Registry A decentralized registry of public shadow contracts stored on IPFS and registered on Base EAS, enabling developers to access pre-written shadow logs without writing smart contract code.
Quantifiable outcome
- Up to 12% gas savings on every transaction by moving events off mainnet
- +4 more outcomes
Companies that use Shadow
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles1 record
Shadow technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature11 records
Shadow partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- RethcoreShadow built shadow-reth, an open source shadow node built on Reth (an Ethereum archive node implementation). Reth's Execution Extensions framework enables shadow event generation.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Shadow competitors and assessment
Company assessmentDirect peers
- Envio: Modern multi-chain EVM blockchain indexer offering hypersync and custom event handling for analytics — directly addresses the same developer pain point (custom onchain data indexing) Shadow solves.
- Goldsky: Subgraph hosting and high-performance data pipelines for Web3 — directly competes with Shadow's custom event indexing and data export features (Dune/GCS/S3 sync).
- The Graph: Decentralized protocol for indexing blockchain data via subgraphs — the dominant incumbent in the same problem space (smart contract indexing), and explicitly referenced in Shadow's documentation as a system Shadow complements/replaces.
- Subsquid: Open-source framework for building custom blockchain indexers with batch-processing of multi-chain data — a direct indexing peer targeting the same developer segment.
Broad incumbents
- Alchemy: Broad Web3 developer platform providing RPC endpoints, enhanced APIs, and indexing tools (Subgraphs, NFT API) — competes with Shadow's Shadow RPC and indexing capabilities as part of a larger portfolio of services.
- QuickNode: Blockchain infrastructure provider offering RPC endpoints, hosted nodes, and developer tooling across many chains — competes with Shadow RPC at the node/API layer.
- Covalent: Unified blockchain data API providing indexed historical and real-time data across many chains — adjacent peer offering an alternative indexing paradigm to Shadow's shadow forks.
- Moralis: Web3 development platform offering RPC nodes, APIs, and indexing for dApps — broader incumbent with overlapping developer audience and complementary data services.
- Chainstack: Managed blockchain node hosting and API platform — competes at the infrastructure/RPC layer with Shadow RPC across multiple EVM chains.
Emerging players
- Ponder: Open-source EVM indexing framework built in TypeScript — emerging developer-focused indexer targeting the same custom event/data use cases Shadow serves.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Shadow social profiles
Digital presenceShadow financial estimates
Financial estimateRevenue estimate
Valuation estimate
Shadow leadership team
Management profileNumber of profiles
Profiles1 record
Shadow funding detail
Funding detailFunding overview
Funding rounds1 record
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Shadow M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Shadow
What does Shadow do?
Shadow provides a developer platform for Ethereum and other EVM chains that uses offchain read-only execution environments (shadow forks) to mirror mainnet state in realtime. Developers can add custom gasless event logs and view functions to any deployed smart contract, then access the resulting data via a versioned JSON-RPC endpoint, real-time Postgres syncs, or scheduled exports to Dune Analytics, GCS, and S3.
Is Shadow a public or private company?
Shadow is a private company. It is classified as venture growth investor backed and is currently operating.
When was Shadow founded?
Shadow was founded in 2023. It employs 1 to 10 people.
Where is Shadow based?
Shadow is headquartered in New York, United States, in the North America region.
How does Shadow make money?
Two revenue lines are on record. Shadow Fork Plans (Subscription) is the primary driver. The others are usage-based Pricing.
Who are Shadow's main competitors?
Direct peers on record are Envio, Goldsky, The Graph and Subsquid. Broad incumbents are Alchemy, QuickNode, Covalent, Moralis and Chainstack. Ponder is listed as an emerging player.
Does Shadow have an API?
Yes. Shadow provides a versioned RPC endpoint (https://rpc.shadow.xyz/ethereum/mainnet/v1//) that behaves like a standard Ethereum RPC but contains additional shadow event data. All API requests require X-SHADOW-API-KEY authentication header. Supported endpoints include eth_chainId, net_version, web3_clientVersion, eth_blockNumber, eth_getBlockByHash, eth_getBlockByNumber, eth_getTransactionByHash, eth_getTransactionReceipt, eth_getBlockReceipts, eth_getLogs, eth_getTransactionByBlockNumberAndIndex, eth_getTransactionByBlockHashAndIndex, eth_getBlockTransactionCountByHash, eth_getBlockTransactionCountByNumber, and eth_call. Free trial accounts are rate limited to 60 RPC requests per minute. RPC frontfills are included on all plans; RPC backfills require paid Pro Shadow Fork plans. Developer documentation is at docs.shadow.xyz/getting-data/shadow-rpc.
What industry is Shadow in?
Shadow's product category is Blockchain Data Infrastructure. Its primary akta.pro industry code is FSAPAAAH, Smart Contract Developer Platforms & Tooling (SDKs, APIs, frameworks, indexing).