Soonaverse Shimmer Launch

SHIMMER is here.

After years of hard won progress and research, the IOTA Foundation is on the verge of its most ambitious milestone to date. The launch of Shimmernet represents the culmination of YEARS of collaborative effort by the Foundation and IOTA ecosystem, a historic next step down the path to decentralization.

We’ve dedicated an immense amount of our limited resources to guarantee we would be here today, actively supporting this momentous occasion as the only official IOTA Foundation Solutions Partner and Exchange & Financial Services Partner. So, you can imagine our excitement as we guide you through what to expect from the Soonaverse on 28.09.22 or what we will always know as Shimmer Day!

Dev update and scheduled downtime

Over the weekend we pushed live the Soonaverse Release 0.14. This is the final release before the Shimmernet launch, which includes improvements to the trading experience and fixes to our massive 0.13 release.

For all users of the Soonaverse, please note that immediately after the launch, the Soonaverse will go down for 1–2 hours as we finalize the upgrade of the platform. During that time we will complete the migration to the decentralized Shimmernet, validate that we are operationally sound, and then launch!

Please prepare accordingly for this lull in operations.

Day One features

As stated in previous announcements, DAY ONE Shimmer launch features for the Soonaverse will include:

• Shimmer Token Exchange
• MIOTA / SMR pair
• SMR / Native Tokens pair
• Full Shimmer integration for NFT Marketplace

Note: Token Airdrop and Launchpad functionality will only be available for non-minted tokens. If you mint your tokens all at once, you cannot access these features. Please use wen.soonaverse.com to test out the token minting, Token Airdrop and Launchpad settings and process before using our mainnet as you will be unable to redo or edit your token configuration. We highly recommend you practice on our testnet before you build.

Post Launch Roadmap

We’ve already begun building our next series of updates. So, we’ll be adding additional features over the next few weeks through development sprints which will enable the following features:

• Token airdrop support for minted tokens
• Token launchpad support for minted tokens
• Shimmer functionality for Soonaverse Awards (XP will be native token on Shimmer, Award will always have to be funded with Shimmer Native Token, Support for locking periods when user can spend received token (i.e. when they’re given badge))
• SOON / Native Tokens pair (We’ll introduce Native token / Native Token pairs, this will allow all SOON holders to use their tokens to buy / sell other tokens)

But wait, there’s MOAR!

Once we complete those post launch update features, we’ll move on to ANOTHER historic update for our community, our platform, our future…$SOON staking! Your $SOON will give you access to features on the platform, allow you to promote collections, collectively monitor bad actors on the platform together with other stakers, and YES! GENERATE YIELD!

SOON Staking

• Spaces will be able to define staking items on their space and their communities will be able to stake space’s token on those staking items
• When users stake, their funds stay in their custody!!!
• Goes back to your wallet, you choose staking period

SOON Staking rewards

• We will utilize new SOON staking across the system and introduce staking items:
• Ability to create collection / token
• Ability to be on collections (subsequently NFT) “discover” pages
• Ability to promote collection into Highlighted collections
• Ability to be on token discover pages
• Ability to promote token on discovery pages
• Ability to ban collection from Soonaverse

SOON Yield rewards

• Staking for yields will be developed to enable SPDR
• More information on staking will follow in future posts.

The move to Shimmer and the introduction of $SOON staking to the platform are 2 vital steps in our progress to a fully functional BETA version of the SOONAVERSE. We hope you will join us in celebration of a breathtaking week of progress for the entire IOTA community. NOW, stop reading, get ready and LFGO!