Shimmer (SMR) is a distributed ledger technology (DLT) network that serves as the official L1 staging and validation network for IOTA. It is designed as a rapid innovation playground with short development cycles, providing developers with the opportunity to build applications and utilize features that are not yet available on the IOTA mainnet. Shimmer is built on a UTXO-based parallelized, directed acyclic graph (DAG), which strives to offer higher scalability than conventional blockchains. It provides the core building blocks for a scalable, modular multi-chain architecture. The native token of the Shimmer network, $SMR, facilitates value transactions and interactions within the Shimmer ecosystem.

Shimmer operates on a UTXO-based parallelized, directed acyclic graph (DAG), which strives to ensure higher scalability than traditional blockchains. It aims to ensure interoperability and composability of L2 smart contract chains and is capable of connecting any type or flavor of L2 smart contract chain anchored to it. Shimmer's tokenization framework allows it to become a multi-asset ledger for minting and transfer of native assets without middlemen or crippling gas fees. The $SMR token is used within the Shimmer ecosystem for the development of new DeFi applications, DEXs, NFTs, DAOs, and other dApps.

Shimmer aims to provide a platform for developers to build applications and use features that are not yet available on the IOTA mainnet. It offers a tokenization framework that allows for the minting and transfer of native assets without the need for intermediaries or high gas fees. This makes it a potential platform for the development of new DeFi applications, DEXs, NFTs, DAOs, and other dApps. Additionally, Shimmer's interoperability and composability features make it a potential platform for connecting any type or flavor of L2 smart contract chain.

Shimmer was developed as the official L1 staging and validation network for IOTA, a distributed ledger technology (DLT) network. It was designed to be a rapid innovation playground with short development cycles, allowing developers to build applications and use features that are not yet available on the IOTA mainnet. Shimmer was built on a UTXO-based parallelized, directed acyclic graph (DAG), striving to offer higher scalability than conventional blockchains. Shimmer was designed with the intention of accelerating the transition to a fully decentralized, permissionless, and feeless network. The $SMR token, the native token of the Shimmer network, was allocated to early adopters through a process involving MIOTA tokens and SMR tokens.