HomeCryptoCurrency NewsIOTA NewsShimmer Network and Token Launch

Shimmer Network and Token Launch

Following months of extensive beta testing by Foundation and community builders, this one-of-a-kind Layer 1 (L1) network is made possible by the recent Stardust protocol upgrade and includes a highly modular tokenization framework. By providing the foundational basis of IOTA 2.0, this launch will have a domino effect, enabling the creation of the first chain in a multi-chain environment based on the feeless, parallelized Shimmer DAG.

The Shimmer network is the IOTA ecosystem’s dedicated innovation network. All core protocol improvements and feature upgrades will be battle-tested here first, making it the ideal innovation ground. It’s more than a test network thanks to its native $SMR token and the baked-in economic incentives that token offers community members. These incentives will eventually attract and foster its own economic ecosystem. There are a number of dApps already prepped for deployment on Shimmer.

IOTA’s longstanding community-mindedness is at the heart of this mainnet launch. Shimmer’s unique tokenization framework empowers users to mint, manage, melt or burn custom layer 1 tokens and NFTs. Versatility, interoperability, and composability are at the core of this development, and Shimmer is capable of connecting any type or flavor of L2 smart contract chain anchored to it.

You can access a preview of IOTA’s blog post with more details about the Shimmer mainnet launch here: https://blog.shimmer.network/shimmer-network-and-token-launch/

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