Bitfinex Lists Shardeum's SHM Token, Highlighting 81M Transactions

Bitfinex, a leading digital asset trading platform, has announced that it will be among the first exchanges to list SHM, the native token of Shardeum. Shardeum is an EVM-based network designed for optimal scalability, founded in 2022. The network is built to achieve maximum security and stability without compromising decentralization, leveraging dynamic state sharding technology to facilitate low gas fees and higher transactions per second, even as the number of users on the network increases. Shardeum reported that it eclipsed 81 million transactions in testnet with 171,000 total validators, stating that it is the “highest number of physically run nodes ever recorded for a Layer 1 testnet”.

SHM, the native token of Shardeum, offers holders a variety of uses, including staking, governance participation, rewards distribution, gas fee coverage, and transaction fee reduction through burning. Bitfinex's decision to list SHM is driven by Shardeum’s design that maintains low gas fees and high speed while protecting its decentralized nature, aligning with Bitfinex's values. Anoush Bhasin, Head of Listings at Bitfinex, expressed pleasure in being among the first to list the native token of this highly anticipated network.

Deposits of SHM are anticipated to open at approximately 10:00 AM UTC on 12 May, 2025, subject to network conditions. Trading is planned to commence at approximately 10:00 AM UTC on 13 May, contingent upon liquidity requirements being met. SHM will be tradable against US Dollars (SHM/USD) and Tether tokens (SHM/USDt). Customers can visit Bitfinex's website to obtain access to SHM.

Bitfinex, founded in 2012, is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market, and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world.