ShimmerSea – Dex and NFT Marketplace. Here are the objectives and features of the project, and direct access to their official website.
ShimmerSea is the ultimate Decentralized Exchange (DEX) to launch an Automated Market Maker Service. It is a fully decentralized project. It has no transaction costs and low fees on the Shimmer network.
ShimmerSea, what is it?
ShimmerSea will be developed and powered by the TangleSea team. It will serve as a test environment to validate the TangleSea MVP. In addition, it will serve as a pilot platform to explore future advanced functionalities before launching them with TangleSea on the Assembly/IOTA network.
That said, ShimmerSea will become more than just a testing ground for us. ShimmerSea is intended to be an ecosystem gas pedal – so it would be a pleasure to support projects that want to test their ideas on the Shimmer network by promoting pools on this platform.
A few words from the team:
We love DeFi because it is the most ambitious attempt to rethink how our financial world should work! DeFi is building a trustless infrastructure on code that does not need to rely on trust(un)worthy centralised institutions!
Therefore, DeFi dApps in their purest form do not have any backend. Instead code is programmed in powerful smart contracts that are open source! The entire value is on chain and can not be corrupted by any individual, entity or dApp.
With the launch of smart contracts on Shimmer, DeFi will be enabled for the first time in the IOTA ecosystem!
ShimmerSea will have its own unique reward token called LUM. This luminescent seaweed brings light into the darkness of the deep shimmer sea. LUM creates an incentive for investors to provide early liquidity to the Shimmer network. The hotter a liquidity pool of a token is, the brighter LUM shines on it.
Three features to remember:
Protocol written in Solidity with unique features built on audited code
DEX stability and resilience through an innovative dual token approach
For the Community
The fair launch puts the community first. We all start together without hidden actors
ShimmerSea’s NFT Marketplace
Lumis love art and craftsmanship, but also value utility and functionality. It makes perfect sense to have a home where Lumis can not only be collected and traded, but also directly access their utility in the DeFi world! ShimmerSea’s NFT Marketplace combines both of these aspects, making it the perfect solution for their new home.
The Marketplace will be open for other NFT projects as well. ShimmerSea being a DEX first, the NFT Marketplace complements the offering of the protocol. NFT projects will be able to directly use the DEX functionalities of ShimmerSea to bring utility to their NFTs:
- Launch your NFT collection
- Distribute rewards to NFT holders through custom staking pools
- Do a Liquidity Fair Launch event of your token with NFT restricted access
- Gain visibility to a wide community
Just as the ShimmerSea DEX, the NFT Marketplace will be entirely deployed on the Shimmer EVM, layer 2.