Iota And on Tuesday, Shimmer got a boost when SwissOne Capital announced its first ecosystem fund to support developers. Dedicated to IOTA and Shimmer, the fund will invest financial resources in developers working on the ecosystem.

The minimum investment offered by the Fund is €10,000 or its equivalent in $MIOTA and $SMR. His CEO at SwissOne Capital, Steffen Bassler, said in his statement:

“We are pleased to launch this fund and provide our clients with early access to projects built within the Shimmer and IOTA ecosystems. We believe the time is right and we will work with the Tangle Ecosystem Association to ensure that the fund is managed in the best interests of our clients.”

IOTA is one of the pioneers of distributed ledger technology (DLT). It pioneered a technology known as Tangle, an open, hassle-free and scalable ledger designed to support smooth data and value transfers.

Shimmer, on the other hand, is a Layer 1 network that provides staging and validation for IOTA DLTs. Similar to Polkadot’s Kurama, Shimmer will allow developers to build her dApps and test them before migrating to IOTA’s ecosystem. SMR has a native token market cap of over $71 million and a total of over 249,150 active addresses.

Shimmer is currently testing the EVM feature as we wrote here. Ethereum Virtual Machine is software that can process Ethereum smart contracts. This is one of the most popular approaches to improving network interoperability. In a memo, the IOTA founders said:

“With the introduction of EVM-compatible smart contracts, Shimmer and IOTA begin a new era of growth fueled by crypto-native use cases, primarily in DeFi, NFTs, gaming, etc. SwissOne Capital’s ecosystem-wide projects.” We are thrilled to be committed to investing in and to see SISO grow with the community.”

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By Jules

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