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IOTA (MIOTA) Reveals Result of Shimmer Governance Vote: Details

Mon, 04/10/2023 - 15:50
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Tomiwabold Olajide
Shimmer token holders had opportunity to vote on four proposals
IOTA (MIOTA) Reveals Result of Shimmer Governance Vote: Details
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On its official Twitter account, IOTA has revealed the results of the Shimmer governance token.

The IOTA team reported significant milestones in governance in its Q1 report. In March, the first four Shimmer governance proposals were put to a vote by the Shimmer community, thanks to a collaboration between the governance team and the Firefly team.

Shimmer token holders had the opportunity to vote on the four proposals from March 16 to March 30. As stated in a blog post, all four of the governance proposals voted on by the Shimmer community have been accepted.

The community agreed to set up a Shimmer Growth Committee and a Shimmer Community Treasury Grant Committee and decided who the members of these committees would be.

IOTA (MIOTA) Shares Exciting Growth Updates in First 2023 Report: Details

SMR token holders accepted a proposal to establish a Community Treasury Grant Committee and set it up as a legal DAO entity in the Marshall Islands with a budget of 27,204,307 SMR tokens for a one-year grant program.

Shimmer Multichain partnership and EVM testnet launch

Shimmer recently announced its partnership with Multichain, a cross-chain router protocol that enables interoperability between ShimmerEVM and other networks. This will enable Shimmer and IOTA tokens to be bridged between the two ecosystems, with future cross-chain solutions between the Shimmer EVM and other major blockchains supported by Multichain.

With 56 supported EVM and non-EVM chains and more than 2,460 integrated projects supported by Multichain, the integration is believed to be a major milestone and will contribute the growth of the Shimmer and IOTA ecosystems.

IOTA's Shimmer Token Records 19,000% Rise in Market Value Shortly After Launch

Last month, the ShimmerEVM testnet chain was launched, another major milestone for the staging network.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.