Market Performance
Info updated 1 year ago
Project Introduction

Through its own token economy, Shimmer offers opportunities for users to put the Shimmer network thoroughly to the test. Before its launch, the Shimmer token is awarded to anyone actively staking the IOTA token during a period of three months. This makes Shimmer the first DLT project to fairly distribute its entire token supply on IOTA, with more to follow. During the staking event prior to the network launch, users are rewarded with one $SMR every 10 seconds for each staked MIOTA. Once the Shimmer network has been launched, users can stake Shimmer tokens to help secure the network and get rewarded with even more Shimmer tokens. The $SMR token also plays an important role in encouraging attackers to put the Shimmer network to the test and find certain loopholes or attack vectors.Overall, the Shimmer token has the following utility:- Staking rewards: Users are awarded Shimmer tokens when they stake on the Shimmer network, as well as receive Mana (the IOTA reward mechanism that promotes users’ transactions and messages, voting rights etc., which secures the network. By staking, earning and delegating $SMR tokens, users contribute to the growth of the Shimmer network.- Access to innovations: Using the $SMR token fast-tracks users to the latest innovations of IOTA, giving them early advantage in developing dApps and participating in the ecosystem. - New yield opportunities: Any new economy that wants to thrive needs participating users. Token holders will be able to benefit from a vast ecosystem of new DeFi, NFT and GameFi dApps. The token utility of Shimmer will be expanded with the growth of the ecosystem.Beyond being a test laboratory for innovations before integration with the IOTA mainnet, Shimmer is designed to evolve into its own ecosystem and community. The $SMR token is an integral part of that evolution.

Performance
*All info & data are for reference only, not investment advice!
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