TL;DR
- ShimmerEVM announces a $1 million Airdrop in collaboration with the community to drive ecosystem growth and liquidity.
- Tide, the integrated protocol, will reward users who contribute capital to dApps on ShimmerEVM, strengthening participation in the new DeFi ecosystem.
- The campaign not only encourages individual participation, but also encourages community growth with an invitation system that awards 5% of the SMR token allocation for successfully referred friends.
The Tangle Ecosystem Association, through its Shimmer Growth Committee, has announced exciting news for the community: the launch of a $1 million Airdrop on Shimmer.
This initiative, planned in collaboration with the Shimmer community, has the main objective of driving the growth of the ShimmerEVM ecosystem, especially with the recent launch of the Shimmer Bridge, powered by Tangle DAO LLC.
🪂 $1M #Airdrop Alert!🪂 Starting this January 31st, @ 3PM CET, participate in the #Shimmer Liquidity Mining Airdrop Injection by @TangleEcosystem! How? Use the @shimmerbridge to bring liquidity into the #ShimmerEVM & boost its ecosystem ✨. All details here… pic.twitter.com/7uGiHg9hRm
— Shimmer (@shimmernet) January 30, 2024
The Shimmer Growth Committee, comprised of community members and representatives of the Tangle Ecosystem, has allocated over 1.5% of the total Shimmer supply, valued at over $1 million, for this Airdrop.
This strategic incentive, which begins on January 31, 2024, at 3:00 PM CET, is primarily intended to attract new liquidity to ShimmerEVM, promoting community-driven development.
The Tide protocol, a Web3 platform recently integrated with ShimmerEVM, will play a crucial role in monitoring participants in the incentive program.
Using a tier and points system, Tide will closely monitor the amount of capital contributed in the form of assets wrapped in LayerZero such as TVL in dApps within ShimmerEVM.
Participants will receive rewards in SMR tokens based on their level and points accumulated in ShimmerEVM
To participate, users must register on the Tide campaign dashboard with their Web3 wallet address and will automatically receive an NFT for tracking purposes.
The Tide campaign participation and asset deposit window begins on January 31, 2024, at 3:00 PM CET, and will remain open until February 14.
Those accounts that reach the required TVL at the end of these 14 days will qualify to participate.
Participants must maintain their TVL in TVL-generating smart contracts for at least 30 days, with a 1% increase in total points for each additional day beyond the first 30 days.
Reward distribution will occur via the Tide campaign dashboard after the 45-day tracking period, concluding on March 16, 2024.
Additionally, the campaign includes an invitation system, where participants can invite friends to join the Airdrop and receive 5% of their friend’s SMR token allocation if they successfully participate.
This approach not only seeks to encourage individual participation, but also encourage community growth.
This initiative is not just an incentive program, but a significant step towards realizing the full potential of the ShimmerEVM ecosystem.
It reflects the Shimmer community’s dedication to innovation, community involvement, and sustained growth.
Everyone is invited to join and contribute to building a more connected and prosperous ecosystem.
