EVM Layer 1 blockchain Shardeum has launched its mainnet, transitioning from a token-only network to a fully functional smart contract platform. The upgrade aims to bring faster transactions, lower fees, and broader developer access to India’s Web3 ecosystem.
The transition includes a major token redenomination, with all SHM tokens—whether staked or unclaimed—automatically adjusted at a 1:240 ratio.
The process began with the suspension of the token-only network at block 2,639,029 on October 28 and the launch of the new mainnet at block 2,639,030 on October 30.
Trading and transfers of SHM are expected to resume across exchanges once migration updates conclude, likely by October 31.
Built with Proof-of-Stake (PoS) consensus and full EVM compatibility, the new Shardeum mainnet supports smart contracts, enabling developers to build decentralized applications (dApps) on a network optimized for scalability and cost efficiency.
The blockchain’s India-first design emphasizes accessibility for both startups and enterprises seeking to deploy real-world Web3 solutions.
“The launch of Shardeum’s EVM mainnet is a key step toward driving real on-chain adoption in India,” said Nischal Shetty, Co-Founder of Shardeum.
“By making it easier for developers to build and deploy decentralized applications on a fast and low-cost network, we are empowering a new wave of innovators,” he added.
As the blockchain ecosystem in India matures, Shardeum’s mainnet positions it alongside emerging L1 networks focused on localized innovation. The network’s next phase will include validator node setup instructions and further incentives for developers joining the Shardeum ecosystem.
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