$1 Million Airdrop: IOTA’s Shimmer Issues Crucial Warning

Tue, 6/02/2024 – 13:36

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Shimmer, IOTA’s staging network, recently launched a $1 million airdrop campaign to promote the growth and innovation of the ShimmerEVM ecosystem. The incentive, which began on Jan. 31, 2024, aims to enhance the inflow and utilization of fresh liquidity from connected ecosystems via the newly launched Shimmer Bridge.

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However, along with the excitement and opportunity presented by the airdrop, the risk of scams does exist. In this light, the Shimmer team has issued a warning to the IOTA community, as potential scams and frauds may try to exploit the airdrop campaign.

In a tweet, Shimmer warns the IOTA community to be wary of scammers because there is only one Shimmer EVM IOTA airdrop campaign running. As a precaution, they should not follow any links other than official ones.

In other precautionary measures, users should also ensure that they do not click on any suspicious links, nor should they trust any unofficial sources or channels claiming to provide information or assistance with the airdrop.

Likewise, they should always double-check addresses before confirming any transaction and use a safe wallet that supports the ShimmerEVM network.

Users should bear in mind that rewards for the Shimmer airdrop will be available to claim via the Tide Campaign Board to participants after a phase of validating, cross-checking, tracking and results, once the 45-day tracking period concludes at 3:00 p.m. CET on March 16, 2024.

The reward distribution will occur over six weeks following a vested release schedule. The final reward amounts will be calculated based on the total reward pool equating to $1 million in SMR tokens divided by the total points generated by all users during the tracking period.

Shimmer shares updates as the $1 million ShimmerEVM airdrop enters its first week. So far, there have been 700 eligible participants: 3.44 million in TVL Bridge inflow and 12 million in TVL for Shimmer EVM per DefiLlama data. Also, 1000 tx/day has been hit using the Shimmer bridge.

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