The IOTA co-founder, Dominik Schiener, has recently highlighted an incredible milestone for the Shimmer Layer 1 Network on his Twitter page. Through the launch of the Treasures of Shimmer airdrop campaign on May 3rd, 2023, an astounding 22,000 daily active addresses were reported. This innovative incentive campaign will reward participating projects and users for their involvement in the public testing of the EVM chain and the dApps deployed onto it. Everyone that takes part will have the opportunity to take advantage of a pool of 1,300,000 SMR tokens.
In his tweet, Schiener displayed a strong belief in the future of the SMR token, whilst praising the amazing technology and organic evolving of the Shimmer ecosystem. Evidently, since the launch of the IOTA staging network, seven months ago, there have been no technical bugs or issues.
Whereas IOTA and Shimmer are both Layer 1 Platforms that employ a DAG (Tangle) for data and transaction storage, a key distinction arises from their varying tokenization mechanics. The Stardust Protocol of Shimmer allows for both alias outputs and custom tokens on a Layer 1 basis, yet this is still yet to appear on IOTA's end. Furthermore, as per dust security, Shimmer operates by necessitating users to support any information they store onto the Tangle using SMR tokens.
The complete launch of the Shimmer EVM testnet in March was cause for widespread celebration. Shortly after, it reached a significant milestone of 1 million transactions with over 38,000 wallet addresses and 2,200 smart contracts deployed. As the recent quarterly report by the IOTA Foundation outlines, the development of the primary Layer 2 support for the Shimmer EVM kickstarts its planning and design phases, with iterations and releases expected to follow closely behind.
It is impressive to witness a platform as powerful as Shimmer attain this level of utility and participation. The remarkable success of the project brings us one step closer to creating an interconnected world of value exchange.
David Castillo
- 2023-05-04
Incredible Milestone for Shimmer Layer1 Network
Learn about the incredible milestone achieved by the Shimmer Layer1 Network, reached through the launch of the Treasures of Shimmer airdrop campaign. Discover more about the innovative incentive campaign, the upcoming IOTA development, and the unique Stardust Protocol utilized by Shimmer.
