- TangleSwap and GroupFi partner to enhance SocialFi capabilities for NFT holders.
- Shimmer’s technology provides the backbone for the integration, offering robust scalability and compatibility with diverse ecosystems.
Following our recent update on IOTA and Shimmer Powerhouse: TangleSwap and GroupFi unite to supercharge SocialFi for NFT owners. Crypto enthusiast, Collin Brown, took to Twitter to express his excitement,
🔗 Revolutionizing #SocialFi with @TangleSwap on @shimmernet! 🚀 Now, $VOID, Souls, Genesis NFT, and #IOTA holders can unite and engage on their favorite platform. 🌐 Let's shape the future of #Crypto together!
Retweet and like #IOTA and #Shimmer fans! 👇👇👇 https://t.co/RdmH9wh0dl
— Collin Brown (@CollinBrownXRP) September 8, 2023
This sentiment was echoed in the GroupFi Protocol’s announcement of their alliance with TangleSwap, which stated,
“@TangleSwap, the premier DEX on @shimmernet, partners with @groupficom to unlock #SocialFi for users🛸. $VOID, Souls, and Genesis NFT owners will now have the platform to engage and share insights in dedicated channels with peers.”
In the Web3 domain, GroupFi stands out not just for safeguarding users’ private keys, but also as a propellant for dApp evolution. The ease with which dApp sites can integrate GroupFi, demanding minimal coding, results in enhanced user acquisition, retention, and heightened engagement.
Shimmer: Setting the Benchmark for Web3 Evolution
The decision to incorporate Shimmer, part of the IOTA framework, into GroupFi’s operations wasn’t arbitrary. ShimmerEVM’s broad compatibility spectrum, coupled with the resources from Shimmer Layer 1 often not found in other blockchain networks, makes it a go-to choice. Shimmer’s model, which negates transaction fees and assures scalability, is a boon for Web3 product progression.
This is further validated by Nakama Labs, a notable Web3 Builder and Venture Fund, which has rigorously assessed Shimmer’s prowess. Their findings underscore Shimmer’s capacity to facilitate an impressive 700 transactions per second (TPS) even during persistent mainnet attacks, with an operational cost nearing $250,000 per hour. It’s also noteworthy that IOTA’s Shimmer Layer-1 staging network, with its commitment to decentralization ethos, showcases a feeless, parallel DAG ledger. This assures paramount security and paves the way for diverse smart contract chains, hinting at a future replete with scalable multi-chain networks.
