Shimmer is a multichain, scalable network to build, connect, and secure sovereign Blockchain networks, enabling the frictionless transfer of assets and data across networks. The foundation of Shimmer is the parallelized UTXO-based DAG ledger. This allows anyone to mint and transfer native assets feelessly under a storage deposit model. On top of the DAG is a flexible application layer offering full EVM-compatibility and WASM support. Additionally, Shimmer will act as a staging network for upgrades to the IOTA ledger.
The first blockchain network to launch on Shimmer will be the ShimmerEVM, which removes traditional points of friction with asset composability.
Both the underlying DAG and the ShimmerEVM run on SMR token, with was allocated entirely to the community of IOTA stakers over a 90-day period.