The SDF Toolkit public beta phase has ended. It is available in the asset store! (affiliate link) I'm working on a set of shaders for SDF materials. They function like Unity 5's standard shaders, except they generate shapes from a singed distance field. Here's an example. The shaders can cast both solid and semitransparent shadows. Semitransparent shadows use Unity's dithering approach. You can turn this off manually, in which case you're left with solid shadows that work with an alpha threshold. There is also a cutout mode, which allows the materials to receive dynamic shadows and work with the deferred shading pipeline. The downside is that you'll get a hard cut at the alpha threshold, which means aliasing. The below image used FXAA to get some smoothing. You don't need to use cutout mode to be lightmapped, so you can get both smooth edges and soft baked shadows. The shaders also work with dynamic global illumination. You can choose whether the effect is off, dynamic, or baked. Check out the webplayer demo!