TL;DR: Key Dates and Details

• Bribing is live now: Protocols and projects can start submitting bribes to incentivize votes. A bribe needs to be created before the Epoch starts, otherwise it’s not included.
• First Voting Epoch starts Friday, December 13, 2024: This marks the beginning of the two-week voting period.
• First LUM farms go live after the first Epoch ends.
• 1 MLUM = 1 Vote. Doesn’t matter how long you have locked your MLUM or when you vote within one epoch.
• Early voting matters: The earlier you vote within an Epoch, the more you earn from potential bribes.
• Eligibility requires a 90-day MLUM lock: Only MLUM staked with at least a 90-day lock period is eligible for voting and your pending lock time needs to be longer than the Epoch duration.

How Voting Works

1. Vote with MLUM: To participate in voting, you must lock your MLUM tokens for at least 90 days. Locked MLUM provides voting power to decide how 30% of liquidity emissions (LUM) are distributed among different liquidity pools. 1 MLUM = 1 Vote, no matter the lock. Each MLUM NFT position needs to be voted separately for each epoch. You can only cast your votes per MLUM NFT position once per epoch. If you don’t use 100% of your voting power, the remaining voting power will be lost for this epoch for this NFT position.
2. Voting Epochs: Each voting period, or Epoch, lasts two weeks. During this time, MLUM holders can vote for their preferred liquidity pools.
3. Time sensitive Voting for Bribes: Your earned bribes within an Epoch depends on when you cast your vote. The earlier you vote in an Epoch, the more you earn from a bribe (linear decline).
4. LUM Farm Activation: After an Epoch ends, votes determine which liquidity pools receive a LUM Farm. A minimum of 500 Votes is required to get a LUM Farm. The LUM farms go live shortly after the epoch ends.

How Bribing Works

What are Bribes? Bribes are incentives offered by protocols or liquidity pool owners to sway your vote in their favor. By participating in the bribing process, protocols can attract liquidity and increase their pool rewards.Bribers need to earn at least 500 MLUM votes to trigger the creation of a LUM farm for their pool. If the benchmark of 500 MLUM is not reached, no farm will be created but voters will still earn the bribe.

How to Earn Bribes:

• Check Bribe Listings: Protocols will post bribes tied to specific liquidity pools in the voting dashboard.
• Vote Strategically: Cast your vote for the pools earning you the highest fee share for your liquidity or that offer the most appealing bribes.
• Vote Early: As earlier you vote for a pool which has a bribe, as more you will get from the bribe amount. There is linear decline in the bribe payout to incentivise early voting.
• Collect Rewards: Once the Epoch ends, you’ll receive the bribes associated with the pools you supported and the farms go live if they cross the 500 MLUM benchmark.

How to Bribe:

• Everyone can add bribes: Bribing is fully permissionless, if you want to bribe any pool, you can do so.
• Only Whitelisted token: Only whitelisted token can be used for bribing. If you want to see your token in this list, please contact the MagicSea team.
• Bribe before Epoch starts: Only bribes which are submitted before the epoch are included. Within the epoch, no further bribes can be added. If bribes are submitted while an epoch is running, they will be included for the next epoch.
• Max 5 bribes per pool: Only 5 bribes can be created for each pool. If your specific pool is already full, you can wait and bribe for the next epoch.

Why Participate in Voting and Bribing?

• Shape Liquidity Allocation: Your vote directly influences where LUM rewards are distributed, helping your preferred pools thrive.
• Earn Bribes: Maximize your returns by aligning your votes with the most lucrative bribes.
• Strengthen the Ecosystem: By participating, you contribute to a robust and efficient liquidity distribution process on MagicSea.

We’re excited to launch the MagicSea Builders Program, an initiative designed to empower the next generation of decentralized finance (DeFi) builders and developers on the IOTA EVM. As the premier Decentralized Exchange (DEX) and NFT marketplace on IOTA EVM, MagicSea is committed to creating a thriving ecosystem of growth, collaboration, and innovation. Sponsored by the IOTA Ecosystem DLT Foundation MagicSea is offering 80.000 $ worth of IOTA tokens to the winner of the MagicSea Builders Program!

TLDR: MagicSea Builders Program

• Purpose: Accelerate DeFi innovation on IOTA EVM.
• Funding: $80,000 in IOTA for the winning project.
• Phases:

1. Selection: Choose top projects with community pulse check.
2. Consulting: Two-weeks of expert advice on strategy and economics.
3. Launch & Scale: Execute launches, promote, and partner for growth.

• Join: Open call for innovative projects on IOTA EVM. Apply now!

https://forms.gle/SiRL2MD8KZcbmidK8

More Than Just a DEX

At its core, MagicSea is much more than a trading platform — it’s a launchpad for the IOTA ecosystem. From Fairlaunches, Token Trading, and Farming, to a dynamic NFT Marketplace, we provide the full suite of tools to help projects scale. With a growing presence on IOTA EVM, MagicSea is empowering projects to take their next big leap.

The Builders Program: A Launchpad for Growth

Our Builders Program is designed to accelerate the adoption and growth of the IOTA EVM ecosystem. By increasing Total Value Locked (TVL), boosting trading volumes, and fostering innovation, we aim to drive demand for the IOTA token while nurturing a diverse range of DeFi applications. The program offers expert consultation, liquidity support, and community-driven growth opportunities to ensure projects thrive from the ground up.

Who Can Join?

The MagicSea Builders Program is open to all promising projects eager to develop on IOTA EVM. Whether you’re building DeFi protocols, Launchpads, or other decentralized applications (dApps), our program gives you the opportunity to accelerate your project’s growth with hands-on support and guidance.

A Phased Approach to Success

Our program is structured into three key phases, each designed to ensure that projects not only launch successfully but also grow sustainably.

Phase 1: Selecting a Promising Project

In the first phase, we carefully select the most promising project. Our expert team narrows down applicants to a maximum of three standout projects, and the community is invited to chime in through Discord pitch sessions. We value community involvement in ensuring that the best projects get the opportunity to shine.

Phase 2: Consulting, Connecting, and Enabling

Once selected, the best project enters a two-week consulting phase. During this time, MagicSea provides deep insights into tokenomics, launch strategies, and market-making techniques. This tailored support ensures that the project is equipped with the knowledge and tools necessary to succeed.

Phase 3: Launch and Scale

In the final phase, we work closely with the project to execute their token launch and build long-term strategies for scaling. We leverage our extensive network within the IOTA ecosystem to offer promotional packages and connect with key partners, giving them the exposure and liquidity needed to thrive.

Why MagicSea?

We’ve been part of the IOTA ecosystem since 2021, and in that time, we’ve become the largest community-driven platform in the space. Our network and expertise allow us to give developers a significant leg up as they launch and grow on the IOTA EVM. With the support of the IOTA Ecosystem DLT Foundation Grant, we’re putting real resources behind the top project, providing up to $80,000 to support the liquidity pool and native token launch.

Join the MagicSea Builders Program

The MagicSea Builders Program is a golden opportunity for projects ready to take their ideas to the next level. Whether you’re building a new DeFi protocol, launching a new token launchpad, or bringing any innovative idea to the IOTA EVM, this program offers the guidance, resources, and support you need to succeed. Apply now!

https://forms.gle/SiRL2MD8KZcbmidK8

We’re excited to announce that the Booster has been upgraded and audited, and it’s launching on @IOTA EVM this Friday, October 4th 2024!
The Booster plays a crucial role in MagicSea, acting as the bridge between LUM and MLUM tokens. $LUM farmers can use the Booster to earn freshly distributed $MLUM, the governance token of MagicSea.

With this update, the interaction between LUM and MLUM has been significantly improved, making the token economics of our DEX more resilient and adaptable. Instead of distributing MLUM in a fixed, linear fashion the upgraded Booster will dynamically adjust MLUM distribution based on the growth of the DEX. When growth slows, fewer MLUM will be released; when growth picks up, distribution will increase to attract more liquidity. However, the hard cap of 1 million Magic LUM tokens remains unchanged.

For the next three months, 1,000 MLUM per month will be distributed through the Booster on IOTA EVM. The distribution rate of MLUM in the Booster will be evaluated and set every three months.

Additionally, to match this new approach, the MagicSea team has decided to stake 50,000 MLUM into the staking pool, a change from the originally planned 200,000 MLUM. This marks the first time the team will join the staking pool and earn a share of the DEX’s revenue. The remaining 150,000 MLUM will stay locked and vested linearly over the next two years on @hedgeyfinance.

MagicSea’s vision has always been to become the native DEX on #IOTA EVM. We started on Shimmer EVM and have now established our home on IOTA EVM, where we’ve become the largest DEX by all key metrics:

• We have the highest Total Value Locked (TVL) of all DEXes on the chain, with more than 2 million $.
• MagicSea facilitates 80% of all on-chain trading volume.
• Our community includes more than 1,000 active daily users, making us the largest DEX on IOTA EVM by far.

We will continue to build and continue to ship with new features like Emissions Voting and Bribing in the pipeline!

TL;DR for MLUM holders:

1. $MLUM Staking pool is going live on IOTA EVM by end of this week
2. Booster will stop on ShimmerEVM on 31st of July
3. $LUM to $LUM staking pool gets created on IOTA EVM
4. Booster will be updated before re-launching on IOTA EVM
5. During the Booster update no new $MLUM are distributed
6. During the Booster update all protocol revenue goes to the community — Team does NOT stake their $MLUM
7. Booster update intends to increase $MLUM resilience in low growth environments

The Booster on ShimmerEVM will close on the 31st of July — 11pm CET. During its lifetime on ShimmerEVM the Booster distributed more than 80k MLUM tokens. Effectively decentralising the governance tokens among our core community that has stuck with us during the ups and downs of the bear market.

Closing the booster means that all planned MLUM have been distributed, and no further MLUM emissions will take place on ShimmerEVM. The burn of LUM in the booster will stop as well and everyone is free to withdraw the remaining LUM in the Booster. We will deploy a LUM to LUM staking pool on IOTA EVM, which could be a new home for your LUM in the meantime.

The next step will be to re-deploy the Booster on IOTA EVM. However, before the Booster is re-deployed on IOTA EVM, it will be updated. ShimmerEVM and early IOTA EVM showed that there is an opportunity to improve the performance of the Booster in low growth phases of the chain and DEX. Ultimately hardening MLUM in such environments and making the DEX better, stronger and more resilient. The details of the Booster reconfiguration will be announced at a later stage.

However, the pause of the Booster does not mean a pause for MagicSea and MLUM holders! The MLUM staking pool (Stake $MLUM -> earn $USDC) is scheduled to go live by the end of this week. Stake your MLUM to earn a share of the protocol revenue. On top, to thank and reward the community for their resilience in the past months, the team will NOT allocate any MLUM from their team stake to the staking pool until the Booster is updated and live again on IOTA EVM. This means that the community gets to earn 100% of all protocol revenue until the update is complete!

With Liquidity Book farms going live MagicSea has the technology now to be among the most efficient DEXes out there and together with the community we have the chance to prove this! That’s why more functionality such as Voting and Bribing is coming next to empower our community more!

The HypeTrain to IOTA EVM is taking off this Sunday! Don’t miss to hop on board! IOTA EVM is live and we are celebrating it by putting 400.000 LUM tokens up for grabs! This mania will only last for 3 Months! Here’s everything you need to know to get on board:

Links

🌐MagicSea Homepage
🌐MagicSea DEX
🌐Tide Board
🌐Zealy Board
🌐HypeTrain Docs

Campaign Overview

The HypeTrain to IOTA EVM campaign is organised into three main pillars, each designed to reward different types of participation:

1. Liquidity Bootstrap (via MagicSea DEX): ~275,000 LUM tokens distributed via the MagicSea Leader-Board and later on through a Farming Frenzy on MagicSea.
2. Trading Competition (via Tide): ~115,000 LUM tokens awarded to top traders on MagicSea.
3. DEXPLORE (via Zealy): ~10,000 LUM tokens for social media participation through Zealy.

The weighting of the rewards for the three pillars can change over the course of the campaign. However, before each epoch the reward distribution will be clearly communicated.

The rewards will be continuously distributed in Epochs lasting two weeks each. Rewards will be distributed via Hedgey Finance with 7 days linear vesting. Before each Epoch the reward distribution among the three pillars will be clearly communicated. Continue, to read more in detail about the three pillars.

3 Reward Pillars

The campaign is built on 3 reward pillars through which the community can help grow MagicSea on IOTA EVM, and earn!

1. Liquidity Bootstrap (via MagicSea DEX)

The Liquidity Bootstrap phase is dedicated to building a strong foundation of liquidity on MagicSea. Here’s how you can participate:

• Provide Liquidity in V2 Pools and Farm with us: MagicSea is starting with a Farm Frenzy! Provide Liquidity to earn those juicy rewards! The earlier you join the higher the rewards are.
  🌐MagicSea DEX | Simple V2 Farms
• Provide concentrated Liquidity Book positions and join the competition: The LeaderBoard on MagicSea ranks the best performing concentrated LB positions in terms of fee revenue! The more fees you earn with your position the higher you can climb on the LeaderBoard. The leaderboard always showcases the top 200 positions over the past 2 weeks. If your liquidity position is in the top 200, you will earn LUM rewards on top of the earned trading fees!
  🌐MagicSea DEX | LB Leaderboard

Rewards: ~275,000 LUM tokens distributed based on your liquidity contributions and performance of your concentraded liquidity. Rewards are distributed in 2 week epochs.

2. Trading Competition (via Tide)

Showcase your trading skills and climb the ranks in our trading competition. Here’s what you need to do:

• Trade on MagicSea: Execute trades on MagicSea and accumulate points based on your trading volume.
• Only trading pools that feature either IOTA or a stable-coins such as USDC give you points
• The more trading volume you generate the higher is the amount of LUM rewards you earn.

🌐Tide Board
🌐MagicSea DEX | Trade

Rewards: ~115,000 LUM tokens distributed to the top traders based on their performance during the competition. Rewards are distributed in 2 week epochs.

3. DEXPLORE (via Zealy)

Get involved with MagicSea on social media and earn rewards for your participation. Here’s how to join:

• Engage on Social Media: Participate in challenges, share content, and engage with the MagicSea community on platforms like Twitter, Youtube, and more.
• Earn Points: Complete social media tasks and earn points for your activity.

🌐Zealy Board

Rewards: ~10,000 LUM tokens distributed to participants based on their engagement and points earned. Rewards are distributed in 2 week epochs.

Reward distribution is subject to change any time during the campaign. However, before each epoch the reward distribution will be clearly communicated.

The HypeTrain is going to stop at three stations! Each Station celebrates new features that are being unlocked on MagicSea, bringing more people on board the HypeTrain! To read more on whats to come follow here:

3 Stations to IOTA EVM

Throughout the campaign, new features will be unlocked on MagicSea in three thematic phases that resemble stations on our way to IOTA EVM. Each station opens new opportunities to Traders, Liquidity Providers, Projects and MagicLUM holders! At each station everyone on board the HypeTrain can dive into the new features and the HypeTrain will onboard new people!

1. Station: Liquidity kickstart

Kick off the campaign by contributing to our liquidity pools. This station focuses on building and incentivizing liquidity on MagicSea, setting the stage for a robust trading environment!

2. Station: NFT Mania

Immerse yourself in the world of NFTs with MagicSea. Trade collections, and earn rewards through our NFT marketplace as we celebrate the creativity and innovation within the IOTA ecosystem. Collect your favourite NFTs in the ecosystem.

3. Station: Magic Happening

Unlock the full potential of MagicSea with Magic LUM the governance token of MagicSea which is capped at 1 million token only. Stake your MLUM tokens to earn 100% of the DEX revenue in USDT, earn bribing rewards by voting on emissions and participate in shaping the future of MagicSea. Be part of shaping the future of MagicSea.

Join us on this exciting journey as we launch the IOTA EVM and unlock new features on MagicSea. Be part of the Hype Train to IOTA EVM and earn with IOTAs native DEX!

tl;dr: DEXPLORE is a tutorial series on YouTube teaching you how to use a DEX on the example of MagicSea. It covers trading, earning rewards, managing liquidity & more. Participants can earn token rewards while learning how to earn on MagicSea.

A Decentral Exchange (DEX) like MagicSea offers unparalleled power and freedom to communities and individuals. With DEXPLORE you will learn how to unlock this power. In this tutorial series, we’re diving deep into the functionalities of a DEX, equipping you with the knowledge and tools you need to trade tokens, earn fees and rewards, leverage NFTs, create liquidity pools for your tokens and much more.

Best of all: DEXPLORE does not just equip you with knowledge, it also rewards you!

Youtube: https://www.youtube.com/@magicsea
Zealy: https://zealy.io/cw/magicsea

What to Expect from DEXPLORE

Each week, we’ll release new tutorials packed with tips and tricks to help you navigate the dynamic landscape of DEX platforms. Whether you’re a novice looking to dip your toes into the world of DeFi or a seasoned trader seeking to optimise your strategies, DEXPLORE has something for everyone.

Earn Rewards by completing Zealy Quests

But that’s not all — accompanying our tutorial series is an exciting Zealy campaign where you can earn lucrative token rewards. Participate in the campaign now, and you could be eligible to receive a portion from the first wave of token rewards valued at ~500$. With each wave of rewards, the stakes get higher, offering you even greater incentives to engage with the DEXPLORE series.

Empower Yourself with Knowledge

By watching all the DEXPLORE videos, you’ll gain invaluable insights into navigating MagicSea and the broader DEX landscape. From understanding simple Farming to mastering Concentrated Liquidity Management, each tutorial will empower you to make informed decisions. The goal is to maximise your potential while mitigating your risk.

Are you ready to take matters into your own hands? Stay tuned for our first tutorial video, coming tomorrow to YouTube. Let’s navigate the wonderful world of MagicSea together with DEXPLORE!

Hidden in the deep, colourful ocean of ShimmerEVM lies ShimmerSea. A vibrant decentralised exchange and NFT marketplace dedicated to enable the power of DeFi built on IOTA technology. In 2021, the BlueLabs team was founded and has since been fully dedicated to supporting and growing the IOTA ecosystem. ShimmerSea was the first released protocol from the BlueLabs team and was launched on ShimmerEVM. Together with our partners, ShimmerSea grew to the leading DEX and NFT marketplace by TVL, Volume and Users on ShimmerEVM. This was only possible due to the trust and support which the community and partner projects placed in us from the beginning. Having this level of backing from the community and the ecosystem is a humbling honour for our team and pushes us to continue delivering.

With IOTA EVM on the horizon the ecosystem is ready to unleash its full potential. Now is the time for ShimmerSea to take the next big step towards its vision:

ShimmerSea evolves to MagicSea!

Keyfacts / TLDR

• Rename ShimmerSea to MagicSea
• Major Protocol Upgrade: Univ2 (AMM) + Liquidity Book (CLMM)
• MagicSea expands to IOTA EVM
• Booster will be on IOTA EVM
• Protocol Earnings $MLUM Staking on IOTA EVM
• Tokenomics stay the same
• Max supply of 1.000.000 $MLUM only
• 1 $MLUM = 1 $MLUM on all chains
• 1 $LUM = 1 $LUM on all chains
• 1 Lumi NFT = 1 Lumi NFT on all chains
• Full support for the community & projects on ShimmerEVM

Evolution to MagicSea

MagicSea captures the essence of the ShimmerSea brand in its purest form while also highlighting one of the protocols biggest features: Magic LUM and the Booster. MagicSea will be a premier multi-chain DEX and NFT marketplace fully dedicated to enable and grow DeFi built on IOTA technology. This includes ShimmerEVM and IOTA EVM as well as further expansions to other chains.

Expansion to IOTA EVM

The start of the Booster marked the birth of a unique tokenomic model which DeFi has never seen before. The Booster allows you to burn LUM ($LUM) which is the reward token of MagicSea for Magic LUM ($MLUM) which is the governance token of MagicSea. The Booster is the only smart contract through which $MLUM gets distributed. With IOTA EVM two larger tokenomic events for MagicSea will happen at the same time: First, the special Magic LUM staking pool will go live! This staking pool allows Magic LUM owners to earn all revenue the DEX is generating across all chains by staking their MLUM for USDT rewards. Only through owning and staking Magic LUM you will be able to participate in the DEXes revenue stream. Second, the Booster will transit over from ShimmerEVM to IOTA EVM. No matter on which chain you earn $LUM in the future, you will only be able to boost it to $MLUM through the Booster on IOTA EVM. A design decision that creates gravity towards IOTA EVM, as we expand the DEX together with our community and our partners beyond the current IOTA sphere.

Major Protocol Upgrade

The evolution to MagicSea represents more than just the transition from a single-chain to a multi-chain protocol. The evolution to MagicSea also marks a fundamental upgrade of the core protocol itself. Introducing Concentrated Liquidity in the form of Liquidity Book on MagicSea! MagicSea will offer everything you love about the DEX today, including Uni V2 liquidity positions with farms, but will offer Liquidity Book functionality with a market making incentive program on top of it! Liquidity Book allows you to earn significantly higher real yield from trading fees, by concentrating your liquidity into bins. With this major protocol upgrade, MagicSea will be able to compete with the most advanced, state of the art DEXes in DeFi also on a technical level.

The transition to MagicSea marks the starting point for our expansion! The unique token economics behind MagicSea with LUM and Magic LUM is designed to support growth over multiple chains without changing its key pillars:

1 $LUM = 1 $LUM on all chains.
1 $MLUM = 1 $MLUM on all chains.
1 Lumi NFT = 1 Lumi NFT on all chains.

Magic LUM holders can rest assured that the maximum token supply stays at 1 million Magic LUM tokens only. Beside governance and emission voting, staking Magic LUM on IOTA EVM will allow the holders to earn DEX revenue from all chains MagicSea expands to!

Over the past years we built a strong foundation. Now it is time to double down on our vision for MagicSea and expand! We do not go on this journey alone. We walk alongside our amazing community and partners! It is time to make magic happen on IOTA technology!

Magic LUM

Compared to $LUM which is the reward token of ShimmerSea, $MLUM is the Governance token of ShimmerSea and is therefore limited to 1 million tokens only!

Besides being limited in supply the token gives holders voting opportunities. These voting opportunities range from smaller every-day decisions like emission rates for $LUM in farms, to larger strategic decisions impacting the future of the protocol.

Finally, holders get to earn all protocol revenue in USDT through a special staking pool, which will go live on IOTA EVM. This includes revenue from trading fees on the DEX and the NFT marketplace, deposit fees, and revenue from fair launches. Until IOTA EVM a Lumi locked $MLUM->$LUM staking pool will be available.

Magic LUM Start and Distribution

Magic LUM will start trading shortly before the Booster goes live. This Friday the 1st of March 2024, at 1pm CET the MLUM-USDT trading pool will go live. The pool will have a total liquidity of 50.000 USDT and 2.500 $MLUM. This makes an initial $MLUM price of 20$.

Be cautious in the first days of trading as the total liquidity with 100.000 $ value is comparably low! High volatility is to be expected!

The initial liquidity will be locked with Hedgey. All other $MLUM tokens will either be locked in the Booster, locked with Hedgey or only minted later on IOTA EVM.
On IOTA EVM the team allocation will be locked in the $MLUM staking pool for another minimum of 6 months and a maximum of 12 months. All other not yet distributed $MLUM tokens will be locked in the new Booster contract on IOTA EVM where they will be distributed over the coming years.

Magic LUM distribution:
Booster — 79.5 %
Team — 20 %
Treasury — 0.5 %

Shortly after trading starts on the 1st of March, the Booster goes live and everyone can start refining their $LUM to $MLUM. The first month the Booster will have an increased $MLUM emission rate! On March the 2nd at 8pm the MLUM-USDT farm will go live.

The Booster

The Booster is a special staking pool in which you can refine $LUM to $MLUM. The smart contract works similar to a staking pool with some important modifications. Just like a staking pool a fixed amount of $MLUM tokens is distributed per second through the Booster. The amount of $MLUM a staker earns depends on his share of $LUM allocated into the smart contract. Different to a standard staking pool, the Booster burns the allocated $LUM on a percent basis. This means that your $LUM stake is burned away while the booster rewards you with $MLUM. The emission rate of the Booster in the first month is 30.000 $MLUM and continues with 13.200 $MLUM per month.

Security is at the centre of what we do at ShimmerSea. Therefore, the Smart Contract Booster has been audited twice by HashEx and as well has been audited by AuditOne.

Timeline

The birth of $MLUM and the activation of the Booster are two events that happen in sequence. In the following graph all the dates around the launch can be seen:

With Magic LUM and the Booster also new farms are being issued for Magic LUM and LUM. The new farms are rewarding liquidity pools with USDT. This will give both tokens, $LUM and $MLUM more price stability.

On the horizon we can already see the next big event approaching: ShimmerSea scaling to IOTA EVM. With this, ShimmerSea will evolve to a multi-chain DEX! With this magic evolution the last major puzzle piece of the protocol tokenomics will also go live: The $MLUM staking pool which distributes protocol revenue on IOTA EVM!

TLDR

ShimmerSea $LUM Fairlaunch, a launch strategy that puts the community and security first. Everyone can join to get the first $LUM ever minted and own the SMR-LUM liquidity Pool. NO pre-mint, NO pre-sale, NO pre-airdrop, NO ICO etc.

Total Fairlaunch cap is 12,5 Million SMR (~500k USD value). If that amount is reached early the Fairlaunch is closed. You enter the Fairlaunch with SMR and receive LUM-SMR LP.

$LUM Fairlaunch will have 3 Phases:

1. Whitelist phase:

- Starting on 14th of October at 8pm CET
- 24h duration
- Only whitelisted Lumi holders (Snapshot: 12.10.2023 — only Lumi NFTs in the wallet count!)
- Max cap per wallet: 50.000 SMR (~2k USD value)

2. Open phase:

- Starting on 15th of October at 8pm CET
- Duration 5 days
- Everyone can join
- No cap per wallet

3. Claiming phase:

- Starting on 20th of October at 8pm CET

- Ends when all SMR-LUM LP are claimed
- Claim your SMR-LUM LP
- Farming starts

The Fairlaunch can reach its cap already in the first phase. Trading of LUM-SMR will be enabled shortly after Fairlaunch closes.

Intro

ShimmerSea DEX was the first DEX to go live on ShimmerEVM! But until now only parts of the DEX were unlocked step by step. With the Fairlaunch of $LUM the ShimmerSea native reward token, the DEX will kickstart a new era!

LUM will be launched via a Fairlaunch event. A launch strategy that puts the community first! This means that no $LUM tokens have been minted yet and there has NOT been any distributed to users/community via ICO, private sale or pre-airdrops. The LUM one can obtain through the Fairlaunch are the very first LUM ever minted!

How does it work?

For the Fairlaunch 500.000 LUM will be minted and locked in the Fairlaunch SC. Afterwards everyone can enter in two phases with SMR into the Fairlaunch Event. With this approach all initial liquidity is distributed to the community and is not owned by the Bluelabs Team nor by ShimmerSea DAO. This diversified ownership approach increases the security significantly and excludes the possibility of a rug pull.

The maximum cap for the Fairlaunch is 12,5M SMR (~500k USD value). If this cap is reached before the end of the Fairlaunch the Fairlaunch closes early.

How can I participate?

The Fairlaunch consists of 3 phases.

The first phase is the Whitelist Phase, which starts on the 14th of October 2023! This phase lasts 24 hours and only whitelisted #Lumi NFT holders can enter the $LUM fairlaunch with a maximum of 50.000 $SMR (~2000 USD value) tokens per whitelisted wallet. In order for your wallet to be whitelisted the wallet needs to hold a LUMI NFT on the 12th of October 2023, when we will do a snapshot.

The second phase is the Open Phase, which starts on the 15th of October and ends on the 19th of October! Everyone can join the second phase of the Fairlaunch and there is no maximum cap per wallet. This phase takes a maximum of 5 days.

The third phase is the Claiming Phase, which starts the latest on the 19th of October! In this phase you can claim your SMR-LUM LP tokens. This phase will last until everyone has claimed their SMR-LUM LPs. After this phase farms will go live so you can take the opportunity to farm with your new LP token!

The $LUM Fairlaunch will catapult our community and the DEX to a completely new level! $LUM will launch on ShimmerEVM but will scale to IOTA EVM!

1 LUM on ShimmerEVM = 1 LUM on IOTA EVM

The ShimmerEVM is bustling with activity, and the very first NFT inhabitants are the Lumis! Lumis are the very first NFT collection minted on ShimmerEVM. With that, Lumis are the true pioneers who discovered this new, untouched land! How were they the first?

Lumis may look small and cute, but don’t make the mistake of underestimating them! Together, they form a uniquely strong community of successful risk-takers! Beyond their vivid and aesthetic visuals, Lumis have therefore been steadily claiming a space of their own in the world of Decentralized Finance (DeFi). This article delves into the unique utilities that Lumis bring to their fortunate holders.

What are Lumis?

Lumis are not just any ordinary Non-Fungible Tokens (NFTs). Lumis were, until the launch of ShimmerEVM, never bought or sold! They are symbols of friendship, distributed to community members who have been with ShimmerSea for years now. Every Lumi embodies a promise, made and delivered upon by a friend. A beacon of trust in a trustless crypto world. Born from the deep liquidity of ShimmerSea and native to the very first DEX deployed to ShimmerEVM, they are the inhabitants of one of the most prosperous regions in the vast expanse of ShimmerEVM: a buzzing centrepiece of the new promised land. With ShimmerEVM, collectors can now buy, sell, or trade Lumis at the ShimmerSea NFT Marketplace. But think twice before selling a friend!

Utility of Lumis

1) Access to the $LUM Fair-Launch and More:

Lumis are the inhabitants of ShimmerSea! As such, all Lumi holders will be granted a whitelist spot for the Fair-Launch of $LUM. With a Whitelist spot, Lumi holders can join 24 hours earlier and secure a spot. Afterwards, the floodgates are opened, and it’s first come, first serve! $LUM is not like other ecosystem tokens. At the fair-launch, the very first $LUM ever minted will be available! There was no $LUM pre-sale, no airdrop, no VC funding in short -> no sell pressure! But $LUM is not the only fair launch planned on ShimmerSea. Many other large projects are planning fair launches on ShimmerSea. If you hold a Lumi, you hold a privileged position!

2) Special Staking Pools:

As inhabitants of ShimmerSea, Lumis know how to get an edge on the DEX! It’s always beneficial to travel with a local. Having a Lumi in your wallet grants the holder access to exclusive staking pools. Thus, Lumis are not just great for the start of ShimmerSea but will continue to benefit their holders.

3) LUMI Treasury:

The total supply of Lumis is 3,333. To date, 2513 Lumis were earned through various activities. This means that there are still 820 Lumis in the treasury. What happens to this treasury will be decided by the Lumi holders themselves. Want to create a fun event incentivized with a Lumi? Just vote for it! Want to open liquid NFTs for Lumis? Just vote for it! Owning a LUMI means having a voice in one of the strongest communities on ShimmerEVM.

4) Digital Collectibles:

At their core, Lumis serve as digital collectibles. Their intricate designs, varied rarities, and the stories they tell make them sought-after assets in the digital art world. All Lumis hold the same utility, but not all Lumis are created equally! Each Lumi is unique. You will never find two identical Lumis. With super rare Lumis like the Lumi Pirate, Lumi Bot, or the golden, bronze, and silver Lumi, the collection also embodies special moments during the ShimmerSea development. If you want to see how rare your Lumi is, take a look here:

https://lookerstudio.google.com/reporting/8d904372-425c-49ec-95fa-8b2e6be430fe

Conclusion:

Lumis are more than just NFTs. They symbolise promises kept, friendships earned, and embody a community that stands firm through all market conditions. They were the first-ever minted NFT collection on ShimmerEVM — the pioneers of the space. Lumis are the native inhabitants of ShimmerSea and therefore come packed with a wealth of utility: whitelisting spots for the LUM Fair Launch and more, exclusive staking pools, and a treasury of Lumis.

Lumis are friends that keep on giving — friends you should think twice before parting with.