SwissOne launches fund for IOTA and Shimmer.

  • SwissOne Capital has launched a major ecosystem fund for IOTA and Shimmer.

  • The fund will invest in the most promising projects in the ecosystem.

On Tuesday, SwissOne Capital announced the first ecosystem fund to support developers, providing a boost to IOTA and Shimmer. The fund is dedicated to investing financial resources to developers working on the ecosystem of IOTA and Shimmer.

The minimum investment offered by the fund will be 10,000 euros or the equivalent in $MIOTA and $SMR. Steffen Bassler, the CEO of SwissOne Capital, said in a statement:

“We are excited to launch this fund and offer our clients early access to projects building within the Shimmer and IOTA ecosystem. With ShimmerEVM rolling out, we believe this is the perfect time to launch a dedicated fund. We are committed to working 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 in distributed ledger technology (DLT). It developed a technology known as tangle, which is an open, feeless, and scalable ledger designed to support frictionless data and value transfer.

On the other hand, Shimmer is a layer 1 network that provides staging and validation for the IOTA DLT. Similar to Polkadot’s Kusama, Shimmer enables developers to build decentralized applications (dApps) and test them before moving them to IOTA’s ecosystem. SMR, its native token, has over $71 million in market cap and over 249,150 total active addresses.

Shimmer is currently testing its Ethereum Virtual Machine (EVM) capabilities. EVM is a piece of software that handles Ethereum smart contracts and is one of the most popular approaches for improving a network’s interoperability. In a note, the founder of IOTA said:

“With the introduction of EVM-compatible smart contracts, Shimmer and IOTA kick off a new era of growth fueled by crypto-native use cases, primarily in DeFi, NFTs, gaming, and more. We are thrilled to see SwissOne Capital’s commitment to investing in projects across the ecosystem and to see SISO grow alongside the community.”

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