Shimmer Launches $1M Liquidity Mining Campaign to Kickstart DeFi Growth – Blockonomi


The Tangle Ecosystem Association has unveiled a $1 million incentive program on layer-2 blockchain ShimmerEVM aimed at bootstrapping growth and decentralize finance (DeFi) activity. The rewards will be distributed in Shimmer’s SMR token to liquidity providers who direct external assets into the ecosystem’s nascent DeFi platforms over its new cross-chain bridge.

TLDR

Dubbed the “Shimmer Liquidity Mining $1M Airdrop,” the campaign was devised by the Shimmer Growth Committee, which includes Tangle Ecosystem representatives and community members. It allocates over 1.5% of the total SMR token supply for incentives valued at over $1 million based on the current SMR price.How to ParticipateMore Than Just Rewards

While the $1 million in prizes will likely attract participants, Shimmer’s Growth Committee views this liquidity mining initiative as more than just an incentives campaign. It signifies their dedication to collaborating with community members and ecosystem projects to continue advancing the ShimmerEVM vision.

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As part of this collaborative effort, participants who actively contribute to the program can also generate a referral code on Tide Finance and invite friends to take part as well. Any friends onboarded via referrals who successfully participate will net the referrer a 5% portion of their earned rewards.

By jumpstarting development activity on ShimmerEVM, the Shimmer Growth Committee aims to showcase the potential of the ecosystem and Layer 2 blockchain technology to supporters and observers across the wider crypto industry.

The major incentive program may be just the first of many cross-community campaigns to come as ShimmerEVM charts its roadmap for the year ahead.

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Author: Oliver Dale


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