It has been a year since the IOTA Foundation announced its plan to launch the Shimmer Network, laying the foundation for a new ecosystem focused on exploring Decentralized Finance opportunities. Shortly thereafter, the TangleSea team was first to announce the development of a DEX for the Shimmer Network. The DEX is named ShimmerSea and has since then built a strong community around its deep sea themed brand.
Now the launch of the Shimmer Network is around the corner and the TangleSea team is starting to reveal first glimpses of ShimmerSea to the public. Shimmer will be the first network in the IOTA ecosystem to have smart contract functionality, enabling for the first time fully decentralized applications built on IOTA technology. The dawn of Shimmer is upon us and ShimmerSea has positioned itself to become a major accelerator for the ecosystem.
But what makes the Shimmer Network and ShimmerSea DEX unique? There are many factors, but we would like to focus on two in particular.
IOTA technology is one of the most sustainable, if not the most sustainable, decentralized crypto protocols in the world. In a time where global warming is the biggest challenge for our human civilization, energy efficiency is a fundamental requirement for global mainstream adoption. And the Shimmer Network will unleash this power first, making ShimmerSea the most sustainable DEX on the market from an environmental perspective.
But sustainability does not just run deep in the technology of ShimmerSea. The team is also dedicated to developing a DEX with sustainable token economics. The way that ShimmerSea will achieve this and the role that the $LUM token will play is not public yet and will probably only be revealed with the release of the whitepaper. But the recent announcement that HashEx has started auditing the ShimmerSea codebase is a good sign that we won't have to wait too long anymore.
A huge advantage for Shimmer is its active community. Compared to many other networks that recently went live, Shimmer already has a large number of dApps ready to launch on the network as well as a strong fan base. These are the two main ingredients to enable powerful network effects that will boost the growth of the ecosystem. Judging by ShimmerSea's announcements on social media, the DEX has managed to develop partnerships with major projects in the Shimmer space and beyond.
Also the ShimmerSea community is strong with more than 6000 active followers on their socials. The team has earned their trust by:
- Closely collaborating with the IOTA Foundation for the technical development
- Transparent and clear communication
- Organizing community events around their free NFTs (Lumis)
- Offering free DeFi education
- Doing a FairLaunch
A FairLaunch means that the team did not do any token/NFT pre-sales before the official go-live. Instead the ShimmerSea will launch through an event in which we all can participate and kick-start the DEX together with the same risks and opportunities. A decision that puts the community first and significantly increases the upside for anyone investing in their $LUM token.
It can be said that we are all incredibly excited about the launch of ShimmerSea and look forward to the months ahead.