Shimmer (SMR) announces a collaboration with Multichain (MULTI) and promises secure connections to foreign ecosystems.

IOTA's side project has gained 12% in daily gains due to the announcement.

For Spring and Summer, IOTA is hoping to take the first steps towards sectors such as Decentralized Finance (DeFi) or blockchain gaming. The basis for this will be the integration of the Ethereum Virtual Machine (EVM) to organize Smart Contracts in the IOTA side project Shimmer (SMR). While the EVM is currently being tested in a public testnet at Shimmer, there are already strategic decisions being made. Shimmer reports in a blog post that it is beginning a partnership with Multichain (MULTI). Multichain, formerly known as "Anyswap", is a project that specializes in providing bridges between originally incompatible blockchains and ecosystems. The news of the partnership with Shimmer gave SMR a noticeable daily gain of 12%.

Multichain and Shimmer want to accomplish two concrete tasks initially. First, Multichain is to construct a bridge between IOTA's Tangle network and Shimmer's Mainnet, enabling transactions from IOTA to SMR and vice versa. Subsequently, the goal will be to link the planned Shimmer EVM to Multichain and thereby to dozens of foreign ecosystems. According to its own statements, Multichain is currently connected to 88 blockchains, including Ethereum (ETH), Binance Coin (BNB), and Polygon (MATIC), almost all DeFi market leaders. Multichain supports transactions in more than 3,500 different cryptocurrencies and has over 1.8 billion US dollars in capital deposited for applications of all kinds in its network.

For Shimmer, with a current market capitalization of theoretically around 130 million US dollars, a future seamless bridge to Multichain and other partners is therefore a promising prospect. The plans of Shimmer and Multichain also offer new perspectives for IOTA itself, which has a market capitalization of around 640 million US dollars.

Conclusion: Shimmer becomes IOTA's flagship
Since Shimmer's stock market debut in September 2022, there have been voices that believe that IOTA is losing importance and that SMR is taking over market share because innovations for the ecosystem are happening there first. The integration of the EVM first at Shimmer and now the collaboration with Multichain support such theses. The news did not visibly affect the price curve of IOTA, while the impulse on SMR was significant. If Shimmer and Multichain succeed in their technologically demanding projects, it will be exciting to see how investors react.

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