What Shiden Network does

Shiden Network is a multi-chain decentralized application (dApp) layer built on the Kusama Network, designed to provide smart contract functionality to the Kusama ecosystem, whose Relaychain does not support smart contracts by design. The platform is a subsidiary operating layer of Astar Network and was previously known as Plasm Network. Its core product natively supports the Ethereum Virtual Machine (EVM), WebAssembly (WASM), and Layer2 scaling solutions from day one, and it ships cross-chain bridges to Ethereum, Cosmos, and Secret Network as part of a multi-chain interoperability thesis. Supporting products include the Dusty Network testnet for development and the Astar Portal web application for end-user access and SDN token management.

The platform serves three primary user segments: developers building multi-chain dApps in EVM or WASM (primary), DeFi users seeking yield through SDN staking, and NFT participants. Its go-to-market is community- and event-driven, anchored on Kusama parachain auction crowdloans where KSM holders stake to earn SDN rewards, supplemented by self-service distribution through the Astar Portal, Polkadot.js, and centralized exchanges. The business model is token-economics based: the SDN utility token is used for staking, governance, and rewarding participants (including a developer basic-income mechanism where nominators stake SDN on their favorite dApps), with no conventional SaaS pricing tiers or fee schedule publicly disclosed.

Shiden is backed by a broad crypto-native investor syndicate including Binance Labs, Hypersphere Ventures, Fenbushi Capital, Hashkey Capital, DFG, LongHash Ventures, Block Dream Fund, gumi Cryptos, Altonomy, AU21 Capital, TRG Capital, SNZ, and IOSG Ventures, and supported by Microsoft for Startups, the Substrate Builders Program, the Web3 Foundation Grants Program, and the Berkeley Blockchain Xcelerator. The founder is Sota Watanabe. Operating status is active, with the platform conducting crowdloans, maintaining community channels on Twitter, Discord, Telegram, Medium, and GitHub, and publishing open documentation, though no revenue, headcount, or post-2021 funding data are disclosed.

Name

Shiden Network

Legal name

Shiden Network

Website

https://shiden.astar.network

Company type

Private

Operating status

Operating

Short description

Shiden Network is a multi-chain smart contract platform on Kusama, natively supporting EVM, WebAssembly, and Layer2, serving developers, DeFi users, and NFT participants through a token-based economy and cross-chain bridges to Ethereum, Cosmos, and Secret Network.

Ownership category

akta.pro rank

Product category

Blockchain Smart Contract Platform

NAICS

Computer Systems Design and Related Services (54151), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Computer Systems Design and Related Services (5415)

SIC

Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Smart Contract Developer Platforms & Tooling (SDKs, APIs, frameworks, indexing) (FSAPAAAH)

akta.pro secondary industries

Testing, Simulation & Local Dev Environments (testnets, forks, fuzzing, CI) (FSAPABAG), Cross-Chain Developer Tooling (messaging SDKs, relayers, interoperability APIs) (FSAPABAF)

Keywords

• Smart contract platform
• Blockchain infrastructure
• Multi-chain dApps
• EVM WASM support
• Layer2 scaling

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. SDN Token Economics: Native SDN token used for staking, governance, and rewarding participants in the ecosystem. Token holders can stake on favorite dApps to earn rewards, creating economic incentives for both developers and nominators.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Shiden Network is a multi-chain smart contract platform built on the Kusama Network that natively supports both the Ethereum Virtual Machine (EVM) and WebAssembly (WASM), along with Layer2 scaling solutions and cross-chain bridges to Ethereum, Cosmos, and Secret Network. The platform enables developers to build and deploy decentralized applications (DeFi, NFTs, and more) using standard Ethereum tooling or the Solang Solidity-to-WASM compiler. Supporting offerings include the Dusty Network testnet, the Astar Portal web app, and the SDN utility token used for staking, governance, and the developer basic income mechanism.

Product overview

Shiden Network is a multi-chain smart contract platform built on Kusama Network, offering a unified platform architecture that natively supports both Ethereum Virtual Machine (EVM) and WebAssembly (WASM) virtual machines. The platform is complemented by the Dusty Network testnet for development and testing, the Astar Portal for user access and token management, and the SDN token for staking and governance. Developers can deploy Solidity smart contracts using standard Ethereum development tools or the Solang compiler, enabling interoperability with Ethereum, Cosmos, Secret Network, and other blockchains through built-in bridge functionality.

Differentiator

Problem solved

Functional benefit

Products and services

• Shiden Network

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Microsoft for StartupscoreStrategic or Co-development PartnerMicrosoft startup program providing cloud services, support, and resources to help Shiden Network build and scale its infrastructure.
• Substrate Builders ProgramcoreStrategic or Co-development PartnerProgram by Parity Technologies providing technical guidance, resources, and support for teams building on Substrate. Shiden Network is a participant.
• Web3 Foundation Grants ProgramcoreStrategic or Co-development PartnerGrant program by Web3 Foundation funding research and development of technologies for the decentralized web. Shiden Network has received grants.
• The Berkeley Blockchain XceleratorminorStrategic or Co-development PartnerAccelerator program at UC Berkeley providing mentorship, resources, and academic connections for blockchain startups.

Scale indicators2 records

Recent moves1 record

Expansion highlights5 records

Direct peers

• Astar Network: Astar is Shiden's parent company and the production-equivalent smart contract parachain on Polkadot. Both share the same multi-VM (EVM+WASM) architecture, dApp staking mechanism, and developer tooling, with Shiden serving as the Kusama canary version of Astar.
• Acala: Acala is a Polkadot parachain focused on DeFi (stablecoins, liquidity, staking derivatives) with EVM-compatible smart contract support via its EVM+ module. It competes with Shiden/Astar for DeFi and dApp developers in the same parachain ecosystem.
• Moonbeam: Moonbeam is a Polkadot parachain providing full Ethereum compatibility (EVM) for smart contract deployment. It is the most direct competitor to Astar/Shiden as a smart-contract-focused parachain in the same Polkadot/Kusama ecosystem.
• Karura: Karura is the Kusama canary network for Acala, operating in the same competitive niche as Shiden — a smart-contract-enabled parachain on Kusama serving DeFi and dApp use cases.
• Moonriver: Moonriver is the Kusama counterpart to Moonbeam, mirroring Shiden's positioning as a canary-network smart contract platform. It competes head-to-head for EVM-compatible dApp developers on Kusama.

Emerging players

• Secret Network: Secret Network is a privacy-focused smart contract platform using WASM-based encrypted contracts. It is explicitly named as one of Shiden's cross-chain bridge partners and serves a comparable Substrate-style developer audience with a privacy angle.
• Phala Network: Phala is a Polkadot parachain providing confidential computing and WASM-based smart contracts. Comparable as a Substrate-based parachain serving developers building advanced dApps, though with a privacy/compute focus rather than general-purpose EVM.
• Edgeware: Edgeware is a Substrate-based smart contract platform that was an early parachain competitor in the Polkadot ecosystem. Comparable as an early-stage Substrate smart contract chain targeting the same developer community as Shiden.

Broad incumbents

• NEAR Protocol: NEAR is a Layer1 with native WASM smart contract execution and EVM compatibility via Aurora. It shares Shiden's multi-VM smart contract vision and competes for Rust/WASM and Ethereum developers seeking low-fee environments.
• Polygon (PoS/zkEVM): Polygon offers EVM-compatible Layer2 scaling solutions and a broad smart contract platform suite. While not a parachain, it competes for the same multi-chain, EVM-compatible dApp developer mindshare that Shiden targets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/ShidenNetwork
• GitHubgithub.com/PlasmNetwork/Plasm

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shiden Network