The Shimmer Development Committee, made up of community members and representatives from the Tangle ecosystem, has announced incentives to strengthen the ShimmerEVM ecosystem. They airdropped over 1.5% of Shimmer’s total supply, which is currently valued at over $1 million. Planned in collaboration with the Shimmer community, this strategy aims to promote use of the recently launched Shimmer Bridge and encourage community-led development.
Beginning January 31, 2024, this incentive aims to increase the inflow and use of liquidity in the new connected ecosystem through the Shimmer Bridge operated by Tangle DAO LLC. It’s about driving growth, innovation, and community engagement in the Shimmer ecosystem. The program will incentivize the provision of liquidity and therefore total value locked (TVL) in dApps within ShimmerEVM. With Shimmer Bridge, participants can easily transfer value into the ShimmerEVM ecosystem and explore the 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 assets provided in the form of TVL in dApps on the Shimmer EVM. Participants will receive rewards in SMR tokens based on their contribution. To participate, users must register with a Web3 wallet address. They will then receive a special NFT for tracking purposes.
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