In Jain tradition there are a few different “Shanti Stotras”, but commonly when people say the 1st gāthā of Shanti Stotra they mean the opening verse of Laghu Shanti Stotra, which (in simple Sanskrit/Prakrit form) is:

> śāntiṁ śānti–niśāntaṁ, > śāntaṁ śāntā–śivaṁ namaskṛtya, > stotuḥ śānti–nimittaṁ, > mantra–padaiḥ śāntyai staumi.

Simple meaning (arth) in easy English

• śāntiṁ śānti–niśāntaṁ –

I bow to Śānti (Lord Shāntināth), who is pure peace, in whom all disturbances have completely ended.

• śāntaṁ śāntā–śivaṁ namaskṛtya –

I first offer salutations to that calm, peaceful, and supremely auspicious Lord.

• stotuḥ śānti–nimittaṁ –

So that the devotee (the one who is praising) may obtain peace,

• mantra–padaiḥ śāntyai staumi –

I now praise Him using sacred mantra‑words, with the special purpose of bringing peace.

Essence in one line

“After bowing to Lord Shāntināth, who is complete peace and totally free of all agitation, I now praise Him with sacred mantras so that the devotee may obtain true peace.”

This verse is a humble mangal-ācharan (auspicious beginning): first namaskār to the vītarāga Tīrthaṅkar (Shāntināth Bhagwān), then the prayer, “May the recitation of this stotra become a cause of śānti (inner and outer peace) for all.”

You can read more about the meaning of Shanti Stotra here