IOTA's Shimmer Launches Massive $1 Million Airdrop, How to Claim

Shimmer, the IOTA staging network, has announced a massive $1 million liquidity mining airdrop.

The Tangle Ecosystem Association, through its Shimmer Growth Committee, has launched the $1 million Shimmer Airdrop Injection, a new initiative for the ShimmerEVM ecosystem.

The airdrop, planned in collaboration with the Shimmer community, intends to promote the use of the recently launched Shimmer Bridge as well as community-driven development.

The $1 million airdrop represents over 1.5% of Shimmer’s total supply at its current value.

The initiative begins on Jan. 31, 2024, at 3:00 p.m. CET and is intended to draw new liquidity to ShimmerEVM, increase liquidity provision, and therefore Total Value Locked (TVL) in dApps within ShimmerEVM.

How to claim airdrop

A blog post provides a step-by-step guide on how users can participate in the ShimmerEVM Airdrop and earn Shimmer tokens as rewards.

Before participating in the ShimmerEVM Airdrop, users should have a Web3 wallet ready. This wallet will be used to register and collect airdrop rewards. Popular wallets include Bloom, Metamask and any other Web3-compatible wallet.

To be eligible for the Shimmer airdrop, users must meet the following criteria: bridge at least $1,000 in LayerZero-wrapped assets to Shimmer EVM. These assets are WETH, WBTC, USDT, USDC, MATIC, BNB, AVAX and FTM.

Furthermore, they should use these assets to generate TVL within Shimmer EVM, either directly or by purchasing SMR tokens or other eligible ecosystem tokens listed on the Tide campaign board, and use them in the pools and contracts of selected dApps, which are also listed on the Tide campaign board.

Others include registering with the Tide Campaign Board and holding their TVL for at least 30 days.

Tide, a Web3 incentive protocol that was recently integrated with ShimmerEVM, will monitor the incentive program's participants using its set of smart contract monitoring tools.