Shimmer Token
Similar to the IOTA token, the Shimmer token (SMR) also acts as a medium for value exchange, has no inflationThe process of increasing the total supply of a cryptocurrency by minting or creating new tokens., and is not subject to any fees. However, unlike the IOTA token, SMR could not be bought beforehand in an ICO but was only distributed to IOTA token holders who staked their tokens during the Shimmer staking periods on the IOTA mainnet.
Note that the smallest denomination of SMR is called "glow" with 6 decimal points. The total supply consists therefore out of 1,813,620,509 SMR tokens or 1,813,620,509,061,365 glow.
Supply & Distribution
The initial supply of SMR was distributed in the following way:
| Allocation | Percentage | # of SMR Tokens | Purpose |
|---|---|---|---|
| IOTA Stakers | 80% | 1,450,896,407 | Rewarded to IOTA token holders who staked their tokens on the IOTA mainnet. |
| Community DAO | 10% | 181,362,051 | To foster community involvement and governance, enabling members to contribute to the Shimmer ecosystem's development and growth. |
| Tangle Ecosystem | 10% | 181,362,051 | To support and incentivize projects that leverage the IOTA Tangle, contributing to the ecosystem's development. |
The distribution of Shimmer tokens across these categories aims to create a balanced and inclusive network, promoting participation, community engagement, and innovation within the Shimmer ecosystem.
IOTA Stakers Allocation
A significant portion of the Shimmer tokens, accounting for 80% of the total supply, is allocated to IOTA stakers. This amounts to 1,450,896,407 SMR tokens. IOTA token holders who staked their tokens had the opportunity to receive SMR tokens as rewards for participating in the IOTA mainnet.
Community DAO Allocation
To foster community involvement and governance, 10% of the Shimmer token supply, equivalent to 181,362,051 SMR tokens, is dedicated to the Community DAO. This allocation ensures that community members have a voice in decision-making and can contribute to the development and growth of the Shimmer ecosystem. Read more about the community DAO [here](TODO: FIX).
Tangle Ecosystem Allocation
Another 10% of the Shimmer token supply, totaling 181,362,051 SMR tokens, is designated for the Tangle Ecosystem. This allocation aims to support and incentivize projects and initiatives that leverage the IOTA Tangle and contribute to the overall ecosystem's development.
Buying Shimmer
You can buy Shimmer tokens currently on the following exchanges and marketplaces: