The Tangle Ecosystem Association’s Shimmer Growth Committee has made a groundbreaking move by injecting $1 million into Shimmer through an airdrop within the ShimmerEVM ecosystem.
The SPYCE.5 platform has achieved significant success, handling over 2 million requests for ShimmerEVM projects in the last 24 hours.
In a remarkable development, the Shimmer Growth Committee of the Tangle Ecosystem Association has introduced an innovative initiative within the ShimmerEVM ecosystem. They have announced a $1 million airdrop injection into Shimmer in collaboration with the Shimmer community. This strategic initiative aims to promote the usage of the newly launched Shimmer Bridge and foster community-driven development. The program will commence on January 31, 2024, at 3:00 PM CET, with the goal of attracting new liquidity to ShimmerEVM.
Holger Kother, an advisor to IOTA, recently expressed astonishment at the overwhelming activity within the ShimmerNet ecosystem, particularly regarding the Total Value Locked (TVL) for the ongoing airdrop. Kother also shared exciting news about the performance of the SPYCE.5 platform, revealing that it successfully managed over 2 million requests for ShimmerEVM projects in the past 24 hours. Notably, the platform demonstrated resilience and scalability, handling the influx of requests with ease and meeting 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.
SPYCE.5 Blockchain Overview
Last year, IOTA unveiled the SPYCE.5 blockchain to enhance enterprise adoption and boost the Shimmer network. The SPYCE.5 platform incorporates an enterprise-ready blockchain infrastructure and offers various features, including data management options and Web3 tools. This simplifies the development process for enterprises aiming to create real-world products, applications, and use cases. These may involve establishing digital identities and securely exchanging real-time data among multiple parties. Additionally, SPYCE.5 leverages key IOTA features such as reduced transaction times, enhanced security, and greater scalability.
Shimmer Growth Committee’s $1 Million Incentive Airdrop
The Shimmer Growth Committee, consisting of community members and representatives from the Tangle Ecosystem, has introduced a strategic incentive program to strengthen the ShimmerEVM ecosystem. With an allocation of over 1.5% of Shimmer’s total supply, currently valued at over $1 million, the committee has launched a significant airdrop initiative.
Effective from January 31, 2024, this program is designed to boost the influx and utilization of new liquidity within the ShimmerEVM ecosystem. Powered by Tangle DAO LLC, the Shimmer Bridge plays a crucial role in this initiative, going beyond numerical metrics to focus on growth, innovation, and community engagement within the Shimmer ecosystem.
The primary objective of the incentive program is to stimulate liquidity provision and increase the Total Locked-in Value (TVL) within dApps operating on ShimmerEVM. Participants gain seamless access to transfer value into the ShimmerEVM ecosystem through 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. Leveraging its suite of smart contract monitoring tools, Tide plays a crucial role in acknowledging and incentivizing contributors to the expanding dApp ecosystem of ShimmerEVM.