IOTA Stages Shimmer Network to Support Layer-2 ShimmerEVM
The initiative aims to support ShimmerEVM and boost its decentralized finance (DeFi) ecosystem
Shimmer Community Collaboration
The project aims to enhance the usage of the Shimmer Bridge and encourage development driven by the community
Initiative Start Date and Goal
It seeks to bring new liquidity into ShimmerEVM, improve liquidity provision, and increase the Total Value Locked (TVL) in decentralized apps (dApps) within the ShimmerEVM, rewards in the SMR token
Tide Finance and Airdrop Participation
Tide Finance will manage and record the rewards using a Web3 wallet, such as Bloom, MetaMask, or other Web3-compatible wallets, and registering to receive SMR tokens
Eligibility and Registration for Airdrop
Users must bridge at least $1,000 in LayerZero-wrapped assets to ShimmerEVM, including WETH, WBTC, USDT, USDC, MATIC, BNB, AVAX, and FTM, and register on Tide’s campaign page, receiving a non-fungible token (NFT) verifying their participation
Participation Requirements and Process
Assets must be used in pools and contracts of specific decentralized applications for a minimum of 30 days, with Tide using its smart contract monitoring tools to oversee the program participants
Hot Take
IOTA launches the Shimmer network to increase liquidity and participation in the ShimmerEVM ecosystem through an airdrop, managed by Tide Finance, and requiring specific assets and wallet registration
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