The Scope De-Fi Profile picture
May 9 11 tweets 4 min read Twitter logo Read on Twitter
Shimmer is more than just a staging network for #IOTA.

@shimmernet is a fully-functional network in its own right with great utility.

In this thread🧵, we will discuss the various features & use cases of Shimmer👇🏼

$SMR #ShimmerNetwork @iota #iota @shimmernet Image
What I will be covering in this thread:

-Shimmer Network
-Shimmer Ecosystem
-How Shimmer Works: Feeless and Scalable
-$SMR Token
-Conclusion

Shimmer Network

The #Shimmer Network is a staging network for $IOTA and operates as a Tangle-based multi-asset ledger.
This ledger enables users to mint their native tokens and NFTs with the Stardust Tokenisation Framework Protocol Upgrade. This upgrade also allows smart contract chains anchored to $SMR to transact with other chains on the Shimmer network.

Shimmer Ecosystem
@shimmernet is an open and permissionless network with over 70 DeFi and NFT platforms, DEXs, DAOs, and infrastructure projects in its ecosystem.
The $SMR token is a crucial step towards decentralization of the $IOTA network, and it represents the base currency for the entire multi-chain architecture.

How Shimmer Works: Feeless and Scalable
Shimmer's DAG base layer is feeless, which means that native tokens and NFTs will also be feeless and scalable. The DAG is UTXO-based and can handle higher transaction throughput with fast finality times of just 5 seconds.
Shimmer's Token Foundries mint L1 tokens and NFTs with the same security features as $SMR, making them safer than tokens created by exploitable smart contracts in L2 networks.

$SMR Token
$SMR is the native token of the #Shimmer Network and can settle fees on smart contract chains. Additionally, it is used in storage deposits when minting native assets or NFTs on the Shimmer network.

Conclusion
The @shimmernet's fundamentals and use cases are focused on the future of blockchain. Its association with $IOTA strengthens the $SMR token's position, and we can expect intense growth in the Shimmer Network ecosystem.
Get ready for the next big thing in blockchain with Shimmer and $SMR!
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Introduction
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