- ShimmerEVM launches a $1 million airdrop, starting January 31, 2024, to incentivize liquidity and support its ecosystem.
- The initiative involves over 1.5% of Shimmer’s total supply, targeting enhanced liquidity through Shimmer Bridge and boosting Total Locked-in Value (TVL) in dApps.
Catalyzing Growth in the ShimmerEVM Ecosystem
In a significant move to foster development and enhance community engagement, the Tangle Ecosystem Association and its Shimmer Growth Committee have introduced a groundbreaking $1 million airdrop in the ShimmerEVM ecosystem. This strategic initiative marks a pivotal step in attracting new liquidity and leveraging decentralized applications (dApps) within the ShimmerEVM framework.
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
Driving Liquidity and Innovation
The airdrop program, set to commence on January 31, 2024, is designed to stimulate the inflow and utilization of ecosystem liquidity connected through the Shimmer Bridge. This bridge, powered by Tangle DAO LLC, represents a vital component of the strategy, extending beyond mere financial incentives. The focus is on promoting growth, innovation, and robust community participation in the Shimmer ecosystem.
The incentive is structured to increase liquidity provision, consequently enhancing the Total Locked-in Value (TVL) in dApps operating within the ShimmerEVM. Participants will utilize the Shimmer Bridge to transfer value seamlessly into the ecosystem, thereby exploring the burgeoning DeFi landscape that ShimmerEVM offers.
Rewarding Community Contributions
Tide, a Web3 incentive protocol, plays a crucial role in this initiative by integrating with ShimmerEVM and employing its suite of smart contract monitoring tools. This integration ensures that contributions to the ShimmerEVM’s dApp ecosystem are duly recognized and rewarded.
The reward mechanism involves a tier and point system, tracking capital contributions in the form of LayerZero wrapped assets used as TVL on dApps within Shimmer EVM. Participants stand to gain higher rewards in SMR tokens based on their achieved level and points.
To partake in this campaign, users need to register on the Tide campaign board with their Web3 wallet address, maintain their TVL for at least 30 days, and comply with the eligibility criteria. Participants will be issued an NFT for tracking purposes and can verify their reward eligibility at any time.
Beyond Incentives: A Vision for the Future
This airdrop campaign transcends the traditional incentive program, embodying a commitment to unlocking the full potential of the ShimmerEVM ecosystem. It represents a concerted effort to establish a thriving and innovative environment that encourages active participation and development.
In conclusion, ShimmerEVM’s $1 million airdrop initiative is a testament to the evolving landscape of decentralized finance and the growing emphasis on community-driven development. By incentivizing liquidity and fostering innovation, ShimmerEVM is paving the way for a more dynamic and inclusive DeFi ecosystem.
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