IOTA Unlocking New Investment Opportunities with Shimmer & Multichain Partnership

• Shimmer partners with Multichain to enable cross-chain interoperability between networks.
• IOTA holders can access different investment opportunities which include staking, yield-farming etc.
• MultiChain will support Shimmer with a cross-chain interoperability solution between the upcoming ShimmerEVM chain and supported blockchains in the MultiChain ecosystem.

Partnership Announcement

A partnership agreement between L1 innovation network Shimmer and Web3 cross-chain infrastructure provider Multichain has been announced to enable seamless interoperability between ShimmerEVM and other networks. This opens more opportunities for IOTA holders as they can access the fast-growing shimmer ecosystem and earn yields on their IOTA tokens through different investment opportunities including staking, yield-farming, etc.

Multichain Support

Multichain was launched in 2021 and provides support for all ECDSA and EdDSA encrypted chains. As of now, it has 56 supported EVM and non-EVM chains and has more than 2460 integrated projects. Furthermore, Multichain will support Shimmer with a cross-chain interoperability solution between the upcoming ShimmerEVM chain and supported blockchains in the MultiChain ecosystem, enabling asset transfer and smart contract execution between multiple chains.

Shimmer Built on UTXO

Shimmer is built on UTXO-based parallelized DAG ledger technology which enables higher scalability compared to conventional blockchains while ensuring that the interoperability and composability of L2 smart contract chains are anchored to it. Recently ShimmerEVMM testnet was launched where users would have the chance to experience the potential utility of MultiChain by transferring test tokens easily between IOTA and ShimmerEVM testnet.

Cross Chain Solutions

The partnership would make way for Shimmers tokens to be bridged between two ecosystems i.e., IOTA & Shimmers’s EVM network hence making way for new possibilities such as transferring assets & executing smart contracts across multiple chains smoothly without any hassle or hindrance from one another’s blockchain protocols or systems.

Conclusion

This collaboration brings greater exposure & accessibility for both networks as it allows users to explore new avenues & gain further insight into various decentralized technologies like Ethereum Smart Contracts & Decentralised Apps (DApps). It also makes way for new investment options such as yield farming & staking that could benefit both sides of this partnership significantly going forward!