ShimmerSea's Magic LUM is already built for scaling to
#IOTA EVM!
1
$MLUM = 1
$MLUM, on all chains.
This is enabled by leveraging OFTs (Omnichain Fungible Tokens), a new standard set by
@LayerZero_Labs .🚀
What is special about the OFT standard? 🧵👇
🛡️ SECURITY
OFTs like
$MLUM will not be a wrapped assets, eliminating the risk of token depegging on one of the chains. The token will be natively minted where it is needed
🛠️ IINTEROPERABILITY
OFTs like
$MLUM simplify the transition from one chain to another, ensuring a user-friendly experience for newcomers and enabling smooth, large-scale transfers.
Magic LUM is the next step in unleashing the tokenomics of ShimmerSea!🌊