Shardeum’s $SHM Collapse: A Warning, and Why @MyriadMarkets Might Be the Future
Who remembers Shardeum? The Indian blockchain that spent over three years hyping its mainnet launch, promising an autoscaling, EVM-compatible Layer 1 solution? For many loyal followers, the wait ended in disappointment. Today, let’s unpack the $SHM token’s dramatic fall and use it as a lesson in crypto’s brutal PvP (player vs. player) landscape. Then, I’ll introduce MyriadMarkets, a project worth researching as a potential beacon in this chaotic space.
The Shardeum $SHM Debacle
Shardeum launched its EVM mainnet on October 30, 2025, after years of testnet phases and a $5.4 million funding round in 2022, led by co-founder Nischal Shetty (also behind WazirX). The project touted linear scalability, low gas fees, and a community of 1.4 million members. Its native token, $SHM, underwent a 1:240 redenomination, increasing the supply from 249 million to 60 billion tokens to boost accessibility in markets like India.
But the numbers tell a grim story:
- Token Generation Event (TGE) Market Cap: Over $20 million.
- Current Market Cap: A measly $5,000.
- Fully Diluted Valuation (FDV): A pitiful $75,000.
This isn’t just a devaluation—it’s a collapse. The devs, founders, and VCs appear to have milked every ounce of liquidity, leaving retail investors holding near-worthless bags. The project’s once-promising narrative of solving the blockchain trilemma (security, decentralization, scalability) has fizzled, with trading volume drying up and community trust eroded. If this isn’t a broad-day scam, I don’t know what is.
This is a stark reminder: crypto is a PvP game. It’s you—the retail investor—versus the insiders. Loyalty to a project without rigorous research is a recipe for disaster. Shine your eyes, folks. Don’t let anyone dump their bags on you.
A Glimmer of Hope: @MyriadMarkets
Amid the wreckage, let’s pivot to something promising. @MyriadMarkets is gaining traction as an innovative platform in the DeFi space, offering automated prediction markets that refresh every five minutes. Unlike Shardeum’s unfulfilled promises, Myriad focuses on a transparent, community-driven model that could sidestep the pitfalls of over-hyped Layer 1s.
- What is Myriad? Myriad (XMY) is a cryptocurrency tied to a decentralized prediction market platform, allowing users to trade on real-world outcomes. According to Bitget (as of November 08, 2025), Myriad aims to provide a secure and user-friendly way to engage with markets, with millions of users already leveraging platforms like Bitget to buy and trade XMY.
- How to Get Involved: You can acquire XMY via exchanges like Bitget using bank transfers, debit/credit cards, or even earn it for free through community participation. The process is straightforward—sign up, verify your identity, and connect a crypto wallet.
- Why It Stands Out: Myriad’s automated markets and leaderboard eligibility foster competition and engagement, contrasting with the centralized grift seen in projects like Shardeum. Its focus on micro-transactions and accessibility aligns with the needs of retail investors who’ve been burned before.
While Myriad isn’t immune to risks, its early-stage momentum and clear utility make it worth researching. Check out Myriad Markets for more details and dive into the whitepaper or community discussions to verify its potential.
Lessons Learned and a Call to Action
The $SHM saga teaches us to scrutinize team track records, tokenomics, and liquidity pools before committing. Shardeum’s downfall highlights how VCs and founders can prioritize exits over community value. In contrast, projects like MyriadMarkets offer a chance to engage with DeFi on your terms—provided you do your homework.
What do you think? Have you been burned by a project like Shardeum, or are you excited about Myriad’s potential? Share your experiences and research in the comments—I’d love to hear your take. And if you’re spreading the good news of @MyriadMarkets on the TL, let’s amplify it together!