The Tangle Ecosystem Association’s Shimmer Growth Committee has made a groundbreaking announcement within the ShimmerEVM ecosystem. They will inject $1 million into Shimmer through an airdrop initiative. This strategic move, developed in collaboration with the Shimmer community, aims to promote the use of the newly launched Shimmer Bridge and foster community-driven development. The program will commence on January 31, 2024, at 3:00 PM CET, and is designed to attract new liquidity to ShimmerEVM.
Holger Kother, an advisor to IOTA, recently expressed his astonishment at the overwhelming activity within the ShimmerNet ecosystem, particularly regarding the Total Value Locked (TVL) for the ongoing airdrop. He also shared exciting news about the performance of the SPYCE.5 platform, which successfully handled over 2 million requests for ShimmerEVM projects in the past 24 hours. The platform demonstrated resilience and scalability, easily managing the influx of requests in line with expectations.
The surge in TVL and the remarkable activity within the ShimmerNet ecosystem indicate a heightened interest and engagement from users. Stakeholders and enthusiasts are closely monitoring these developments as the airdrop continues.
The SPYCE.5 blockchain was introduced by IOTA last year to enhance its enterprise adoption and boost the Shimmer network. The platform incorporates an enterprise-ready blockchain infrastructure and provides various features, including data management options and Web3 tools. This simplifies the development process for enterprises looking to create real-world products, applications, and use cases. The platform leverages key IOTA features, such as reduced transaction times, enhanced security, and greater scalability.
The Shimmer Growth Committee has unveiled a $1 million incentive airdrop program to fortify the ShimmerEVM ecosystem. This strategic initiative, which allocates over 1.5% of Shimmer’s total supply, aims to boost the influx and utilization of new liquidity within the ecosystem. Powered by Tangle DAO LLC, the Shimmer Bridge plays a crucial role in this initiative, focusing on fostering growth, encouraging innovation, and enhancing community engagement within the Shimmer ecosystem.
The primary goal of the incentive program is to stimulate liquidity provision, thereby amplifying the Total Locked-in Value (TVL) within dApps operating on ShimmerEVM. Participants can easily transfer value into the ShimmerEVM ecosystem using the Shimmer Bridge, exploring the potential of the new decentralized finance (DeFi) landscape. Tide, a Web3 incentive protocol that recently integrated with ShimmerEVM, monitors participant contributions and ensures recognition and rewards for contributors to the expanding dApp ecosystem.