$SHM will be a Cardano Native token deployed on the Cardano Blockchain. Its function as a utility token within the Shimmy platform is to facilitate our reward and incentive mechanisms in relation to in-app content, activities and group ('Shimmy') ownership and access. This brings a typical transactional element to the transfer of the Shimmy Token 'in-app', yet our smart contract protocol and user interface enable the surrounding context of the exchange to be based upon more widespread parameters than a typical buyer - seller exchange.
The proposed Dual-Token Structure, allows the giving, or donation use cases to be facilitated with a Cardano Native Stablecoin. This means that donations between parties, access & control fees, and conditional or contractual agreements, are facilitated with a widely usable Stablecoin, meaning that the $SHM Token can be accrued and held onto as the valuable in-app asset that will increase in value in alignment with demand and optimal usership.
Cardano does not claim exponential energy to boost performance and create blocks, unlike other blockchains. The performance-sustainability balance is achieved by combining novel technologies like multi-ledger, side chains, and equivalent deal reuse via multiple-party state channels. This means that building Shimmy Token on Cardano, is environmentally friendly and consumes the minimum amount of energy.
See below the basic Shimmy Token information:
Name: Shimmy Token
Type: Cardano ADA
Total Supply: 5,000,000,000
Initial Supply: 1,052,500,000
Token Listing: (Mainnet Date TBC - Between 11-28th November)
Vesting: See Vesting.
Contract Address: Coming Soon.
Policy ID: Coming Soon.
Chart: Coming Soon.