ShimmerEVM initiative offers $1M airdrop to incentivize liquidity, begins January 31, 2024, driving community participation.
Shimmer Growth Committee allocates 1.5% of Shimmer’s total supply to attract liquidity and leverage dApps in its ecosystem.

The Tangle Ecosystem Association, through its Shimmer Growth Committee, has launched a groundbreaking initiative in the ShimmerEVM ecosystem: a $1 million airdrop injection into Shimmer.

The Shimmer（IOTA staging network） Growth Committee announces an incentive measure to enhance the ShimmerEVM ecosystem: allocating over 1.5% of the total supply of Shimmer for an airdrop, valued at over $1 million. Users need to bridge at least $1,000 worth of LayerZero wrapped…

— Wu Blockchain (@WuBlockchain) January 30, 2024

This strategy, planned in collaboration with the Shimmer community, seeks to encourage use of the newly launched Shimmer Bridge and stimulate community-led development. The program, which begins on January 31, 2024 at 3:00 PM CET, aims to attract new liquidity to ShimmerEVM.

The Shimmer Growth Committee, comprised of community members and representatives from the Tangle Ecosystem, has announced an incentive to strengthen the ShimmerEVM ecosystem. They have allocated over 1.5% of Shimmer’s total supply, currently valued at over $1 million, for an Airdrop.

Effective January 31, 2024, this incentive seeks to enhance the inflow and utilization of new connected ecosystem liquidity through the Shimmer Bridge, powered by Tangle DAO LLC. This strategy goes beyond numbers; it is about promoting growth, innovation and community engagement in the Shimmer ecosystem.

The incentive is designed to drive liquidity provision and, consequently, Total Locked-in Value (TVL) in dApps within ShimmerEVM. Using the Shimmer Bridge, participants can easily transfer value into the ShimmerEVM ecosystem and explore their new DeFi ecosystem.

Tide, a Web3 incentive protocol that has recently integrated with ShimmerEVM, will monitor incentive program participants with its suite of smart contract monitoring tools. Tide ensures that contributions to ShimmerEVM’s dApp ecosystem are recognized and rewarded.

The Tide platform will use a tier and point system to track the amount of capital, in the form of LayerZero wrapped assets, provided as LTV on dApps within Shimmer EVM. Participants will receive higher rewards in SMR tokens based on their level and points earned.

To participate, users must register on the Tide campaign board with their Web3 wallet address and will automatically receive an NFT for tracking purposes. Users can verify their eligibility for rewards at any time on the Tide board by connecting their wallets.

Steps to follow:

Set up your Web3 wallet.
Understand the eligibility criteria.
Register on the Tide campaign board.
Maintain your TVL for at least 30 days.
Stay informed.
Wait for rewards distribution.

The campaign will track and reward all assets that have been transferred to Shimmer EVM through ShimmerBridge. Therefore, if you have already transferred assets and are providing liquidity with these assets in eligible dApps, you do not need to remove or re-add them. Everyone who was an early supporter of Shimmer EVM and meets the requirements is rewarded.

invite a friend! You can invite a friend to participate in the airdrop.

Participate in the Shimmer Support Campaign and receive a badge for your participation. Then, use the “Invite a Friend” feature in the Shimmer Network’s Tide space to generate your referral link. If the person you invited successfully participates in the airdrop campaign, you will receive 5% of their SMR airdrop allowance.

This program is more than an incentive program; it is a step towards realizing the full potential of the ShimmerEVM ecosystem.

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Filed under: Bitcoin - @ January 30, 2024 6:54 pm