The co-founder of IOTA has lately been very vocal about the ideas that he has about how the Shimmer community should move forward. Schiener has finally introduced the ShimmerEVM chain, along with the launch of their DeFi ecosystem and their new system of on-chain governance.
While DeFi exchanges will instead make use of other tools for governance, Shimmer is looking to make its mark on the DeFi space. Users will be able to vote for certain changes through their wallets, making it a unique way for the community to engage in the best types of changes that can come.
Looking for a Win
Shimmer is not just the newest DeFi to launch in the market; it is also the venture that is going to bring back IOTA from the brink of irrelevance. Shimmer becoming successful is a definitive win for IOTA, which means that this needs to be their best project yet.
They are looking to offer better speed and features than most other builders and networks on the market, bringing in plenty of new users.
The community’s native asset saw an incredible launch where it was able to rally by more than 19,000 pace just days after its launch. After seeing the incredible launch that his product has just had, he proceeded to announce the next steps that the DeFi space will follow.
The first major step that they will be taking is making ShimmerEVM into a sensible contracts community, along with contract executions that have bottom charges.
Keeping all of their Records in a Scalable Ledger
One of the best parts about ShimmerEVM is that it comes with a very scalable ledger, which they can use to scale, construct, and create decentralized purposes. Of course, this is not the only advantage that it is offering all of its users.
Some of the other benefits include a permit that allows for Native asset transfers without having to use a bridge and allowing new builders to introduce native tokens. And given the many perks that are offering individuals, many builders are keeping their eyes on what Shimmer is cooking up.
Shimmer is already part of a public test chain, which allows them to check the different integrations that the new DeFi already has.
Enough Time and Resources to Getd it Right
IOTA has the time, resources, knowledge, and experience to effectively work on a DeFi chain. This ecosystem can grow significantly and is usually based on analysis alone. Of course, IOTA will not be the only success story in the DeFi space to make a major comeback, as this is a very similar story to Kusama and Polkadot.
And although people are still holding out hope, the chain is still in its infancy stage.