IOTA’s $1 Million Incentive Airdrop to Bolster ShimmerEVM

• The Shimmer Growth Committee introduced a groundbreaking initiative by announcing a $1 million airdrop injection into Shimmer within the ShimmerEVM ecosystem.
• The SPYCE.5 platform has demonstrated significant success, handling over 2 million requests for ShimmerEVM projects within the past 24 hours.

The Shimmer Growth Committee of the Tangle Ecosystem Association has introduced a groundbreaking initiative within the ShimmerEVM ecosystem while announcing a $1 million airdrop injection into Shimmer.

Developed in coordination with the Shimmer community, this strategic initiative aims to promote the utilization of the recently launched Shimmer Bridge and foster community-driven development. Commencing on January 31, 2024, at 3:00 PM CET, the program is designed to draw new liquidity to ShimmerEVM.

In a recent update, Holger Kother, an advisor to IOTA, expressed astonishment at the overwhelming activity within the ShimmerNet ecosystem, particularly regarding 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 within the past 24 hours. Notably, the platform demonstrated resilience and scalability, handling the influx of requests with ease, and in line with expectations.

Holy… the @shimmernet ecosystem going crazy with TVL for the airdrop 🤯

Our @SPYCE_5 platform handled over 2 Million requests for ShimmerEVM projects in the past 24 hours on and platform scales as expected! 💪#GetOnSPYCE https://t.co/8mlVGmviGd

— Holger Köther ✨ (@HolgerKoether) February 1, 2024

The significant surge in TVL and the remarkable activity within the ShimmerNet ecosystem suggest a heightened interest and engagement from users. As the airdrop continues to unfold, stakeholders and enthusiasts are closely monitoring these developments.

About SPYCE.5 Blockchain

IOTA unveiled the SPYCE.5 blockchain last year to boost its enterprise adoption as well as boost the Shimmer network. The SPYCE.5 platform also incorporates an enterprise-ready blockchain infrastructure and provides various features, including data management options and Web3 tools. This further 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. Moreover, 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, comprising community members and representatives from the Tangle Ecosystem, has unveiled a strategic incentive program aimed at fortifying the ShimmerEVM ecosystem. Allocating over 1.5% of Shimmer’s total supply, currently valued at over $1 million, the committee introduces a significant Airdrop initiative.

Effective January 31, 2024, this incentive program is strategically crafted to boost the influx and utilization of new liquidity within the ShimmerEVM ecosystem. Leveraging the Shimmer Bridge, powered by Tangle DAO LLC, the initiative transcends mere numerical metrics. This endeavor further focuses on fostering growth, encouraging innovation, and enhancing community engagement within the Shimmer ecosystem.

The primary goal of the incentive is to stimulate liquidity provision, consequently amplifying the Total Locked-in Value (TVL) within dApps operating on ShimmerEVM. Utilizing the Shimmer Bridge, participants gain seamless access to transfer value into the ShimmerEVM ecosystem, thereby exploring the potential of the new decentralized finance (DeFi) landscape.

Monitoring participant contributions and ensuring recognition and rewards is Tide, a Web3 incentive protocol that recently integrated with ShimmerEVM. Leveraging its suite of smart contract monitoring tools, Tide plays a crucial role in acknowledging and incentivizing contributors to the ShimmerEVM’s expanding dApp ecosystem.