IOTA

Shimmer

<blockquote>TL;DR: The Tangle Ecosystem Association, via its Shimmer Growth Committee, announces a new initiative for the ShimmerEVM ecosystem: a $1M Shimmer Airdrop Injection. Planned in partnership with the Shimmer community, the airdrop aims to encourage the use of the newly launched Shimmer Bridge and spur community-driven development. The program begins on 31 January 2024, at 3:00 PM CET, and is designed to attract fresh liquidity to ShimmerEVM.</blockquote>The Shimmer Growth Committee, which comprises community members and Tangle Ecosystem representatives, announces a major incentive to bolster the ShimmerEVM ecosystem: it has allocated over 1.5% of Shimmer’s total supply, currently valued at over $1M for an Airdrop. Starting tomorrow, 31 January  2024, at 3:00 PM CET, this incentive aims to enhance the inflow and utilization of fresh liquidity from connected ecosystems via the newly launched <a href="https://shimmerbridge.org/bridge" rel="noopener noreferrer nofollow">Shimmer Bridge</a>, powered by <a href="https://www.tangletreasury.org/tangle-governance-log" rel="noopener noreferrer nofollow">Tangle DAO LLC</a>. This strategy is about more than just numbers; it&#39;s about promoting growth, innovation, and community engagement in the Shimmer ecosystem.The incentive is designed to boost liquidity provision and, consequently, the Total Value Locked (TVL) in dApps within ShimmerEVM. By using the Shimmer Bridge, participants can effortlessly transfer value into the ShimmerEVM ecosystem and explore its new DeFi ecosystem.<h3 id="how-it-works">How it Works</h3><a href="https://landing.tideprotocol.xyz/" rel="noopener noreferrer nofollow">Tide</a>, a Web3 incentive protocol that has recently integrated with ShimmerEVM, will monitor the incentive program&#39;s participants with its set of smart contract monitoring tools. Tide ensures that contributions to the ShimmerEVM dApp ecosystem are recognized and rewarded.The Tide platform will use a tier and points system to track the amount of capital, in the form of LayerZero wrapped assets, provided as TVL in dApps within Shimmer EVM. Participants will receive higher rewards in SMR tokens based on their tier and points earned.To participate, users must register on the <a href="https://www.tideprotocol.xyz/users/campaign/58ab133e-c54c-481a-aedf-e552aef7b6f5" rel="noopener noreferrer nofollow">Tide campaign board</a> with their Web3 wallet address and will automatically receive an NFT for tracking purposes. Users can verify their eligibility for rewards at any time on the Tide board by connecting their wallets.<h3 id="step-by-step-guide">Step-by-Step Guide</h3>Step 1: Prepare Your Web3 Wallet. Before you participate in the ShimmerEVM Airdrop, make sure you have a Web3 wallet ready. This wallet will be used to register and receive your rewards. Popular options include <a href="https://bloomwallet.io/" rel="noopener noreferrer nofollow">Bloom</a>, <a href="https://metamask.io/" rel="noopener noreferrer nofollow">MetaMask</a>, or any other Web3-compatible wallet.Step 2: Understand the Eligibility Criteria. To qualify for the Shimmer Airdrop, you must meet the following eligibility criteria:<ul><li>Bridge a minimum of $1,000 in LayerZero Wrapped Assets into Shimmer EVM. These assets include WETH, WBTC, USDT, USDC, MATIC, BNB, AVAX, and FTM.</li><li>Use these assets in TVL-generating activities within Shimmer EVM, either directly or by purchasing SMR tokens or other eligible ecosystem tokens listed on the Tide campaign board. Use them in the allowed pools and contracts of selected dApps, also listed on the Tide Campain board.</li></ul>Step 3: Register on the Tide Campaign Board. To participate, go to the <a href="https://blog.shimmer.network/p/14596445-06ee-48b9-9467-e75f54956b72/" rel="noopener noreferrer nofollow">Tide campaign board</a> and register with your Web3 wallet address. You will receive an NFT for tracking purposes, so make sure to connect your wallet to verify your eligibility for rewards at any time. The window for participation in the Tide questboard and asset deposit starts on 31 January  2024, at 3:00 PM CET, and remains open until February 14. Accounts reaching the required TVL by the end of these 14 days will qualify for participation.Step 4: Hold Your TVL for at Least 30 Days. The value you brought into Shimmer EVM must be held in TVL-generating smart contracts for a minimum of 30 days. Eligible projects and Pools are listed on the Tide campaign board. The longer you hold your assets beyond the initial 30 days, the higher your rewards will be, with a 1% increase in total points for each day beyond 30 days.Step 5: Stay Informed. Keep an eye on the Tide campaign board to check your eligibility status for the airdrop. This board will continuously display your progress and qualification status.Step 6: Wait for Reward Distribution. After the 45-day tracking period concludes at 3:00 PM CET on 16 March 2024, and a phase of validating and crosschecking tracking and results, rewards will be available to claim via the Tide Campaign Board to participants. The reward distribution will occur over six weeks following a vested release schedule. Final reward amounts will be calculated based on the total reward pool (1.5% of the SMR supply, equating to $1M in SMR tokens) divided by the total points generated by all users during the tracking period. Further details are available on the Tide campaign board.That&#39;s it! Following these steps and meeting the eligibility criteria, you can participate in the ShimmerEVM Airdrop and earn Shimmer tokens as rewards. Stay informed and engaged throughout the process to maximize the benefits of this exciting incentive program.Important: The campaign will track and reward all assets ever bridged into Shimmer EVM via ShimmerBridge. So if you have already bridged in assets and are currently providing liquidity with these assets in eligible dApps, you don’t need to remove/re-add them. We reward everyone who was an early supporter of Shimmer EVM and fulfills the requirements.Just register for the campaign on our Tide board, and the system will track and recognize your previous activities.<h3 id="invite-a-friend">Invite a Friend!</h3>You can invite a friend to participate in the airdrop!<ul><li>Participate in the <a href="https://www.tideprotocol.xyz/users/campaign/4a0207bd-1b86-412d-950c-b8116767076a" rel="noopener noreferrer nofollow">Shimmer Supporter Campaign</a> and receive a badge for your participation.</li><li>Then, use the &#34;Invite a Friend&#34; function on <a href="https://www.tideprotocol.xyz/users/spaces/1500" rel="noopener noreferrer nofollow">Shimmer Network’s Tide space</a> to generate your referral link.</li></ul>If the person you’ve invited participates successfully in the airdrop campaign, you&#39;ll receive 5% of their SMR airdrop allocation.<h3 id="a-milestone-for-the-shimmer-ecosystem">A Milestone for the Shimmer Ecosystem</h3>This campaign is more than an incentive program; it&#39;s a step towards realizing the full potential of the ShimmerEVM ecosystem. It underscores our dedication to innovation, community involvement, and the sustained growth of the Shimmer ecosystem. We invite you to join us in shaping the future of Shimmer in collaboration with our valuable ecosystem projects and community members. Let&#39;s bridge towards a more connected ecosystem together.<h3 id="disclaimer">Disclaimer</h3>This blog post is for informational purposes only and is not financial advice. Participants should always conduct due diligence when engaging with any crypto projects.<a href="https://discord.shimmer.network/" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://twitter.com/shimmernet" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://www.linkedin.com/company/shimmernet" rel="noopener noreferrer nofollow">LinkedIn</a> | <a href="https://www.reddit.com/r/shimmer/" rel="noopener noreferrer nofollow">Reddit</a> | <a href="https://coinmarketcap.com/currencies/shimmer/" rel="noopener noreferrer nofollow">CoinMarketCap</a>Follow us on our official channels for the latest updates:

Announcing the Shimmer Liquidity Mining $1 M Airdrop

Table of Contents

IOTA

Other articles published on Jan 30, 2024

Chainlink Price Hints Bullish Reversal! LINK Price To Record 20% Jump Soon?

Prominent Analyst Reveals the Date He Claims Altcoins Will Begin to Rebound

Ethereum Price Trajectory: Analysis and Expert Forecasts

Standard Chartered foresees Ethereum ETF approval by May 23

Google AI Teases Bard and Gemini Pro Update on Feb 1st

dYdX Community Likely to Approve Foundation’s $30 Million Funding Proposal

Join our free newsletter for daily crypto updates!