Shardeum, a layer 1 blockchain co-founded by Wazirx founder Nischal Shetty, scheduled a token generation event on May 5, 2025.
This project will check the launch date in X’s April 17th post and note that details about its airdrops, token sales and SHM list will soon be shared. This is a major step forward in the project, and we found that the mainnet launch was a few times behind the original timeline.
This is at ➡️Chardum Tge➡️05.05.2025
Details of airdrops, token sales $shm allocation and list will be announced soon 🎊
stay tuned! pic.twitter.com/mpljbnjsam
– Shardeum (@shardeum) April 16, 2025
Earlier this month, Shardeum announced it would be released on April 15th. Citing the unfavorable market situation, Shardeum delayed the launch planned in an update released on April 10th. The team has made it clear that the technology is ready, but strategic delays will ensure a stronger debut as market conditions are still at a disadvantage.
You might like it too: Vaneck launches “node” ETF targeting crypto-related stocks on May 14th
The upcoming launch of Shardeum followed a lengthy development cycle that included multiple testnets, “Liberty”, “Sphinx”, and incentivized “Atomium”, which helped scalability of platform testing and community involvement. According to the team, Shardeum’s testnet has broken records with over 171,000 validators and trades of over 81 million people.
The project faces internal disruption despite its technical milestones. As the economic era reported earlier, more than 12 employees left last year, including key members of the community and business teams. However, the company claims its leadership is stronger than ever, citing the recent employment of Sriniva Sampalta Sarati as Chief Technology Officer.
To reward early supporters, Shardeum also details the three-phase airdrop campaign. In the first phase, more than 3.6 million SHM tokens will be distributed to contributors in the development, community and validator roles. Participants in the incentived testnet and mainnet launch campaign will receive rewards at later stages.
SHM tokens are used for many network functions, such as governance, staking, and gas payments. To support the deflationary model, Shardeum burns all transaction fees. The total supply concludes with SHM 508 million, with over half allocated to the community.
read more: Synthetix’s SUSD Stablecoin falls below $0.8 despite PEG recovery measurements
