DYM Price Surges 30% in 24 Hours with Mainnet Launch and Dymension Airdrop
Dymensions much-anticipated airdrop made headlines on Tuesday as the networks mainnet finally went live. Early users and select communities were in for a treat, with over $390 million worth of DYM tokens being served up. The tokens value skyrocketed following the launch, with DYM currently enjoying a 30% surge to reach a price of $5.08, as per CoinMarketCap data. Trading volume on exchanges has already surpassed $398,947,749. The Dymension airdrop itself encompasses a whopping 700 million DYM tokens, which represent 7% of the total supply.
What is Dymension (DYM)?
Dymension stands out as a network designed to empower developers by enabling them to deploy app chains, known as RollApps. It operates as a layer-1 blockchain, leveraging Cosmos technology and the inter-blockchain communication protocol (IBC) to establish connections with various other chains. Builders have the flexibility to choose from a range of virtual machines and tokens when creating their RollApps.
Dymensions genesis rolldrop, as they dubbed it, reached out to over a million unique wallets across diverse chains and communities. This included users on prominent networks like Solana, Celestia, and Ethereum scaling networks such as Arbitrum, Optimism, Base, and the upcoming Blast.
Certain communities, such as holders of the popular Pudgy Penguins NFT collection on Ethereum, along with Mad Lads and Tensorians on Solana, were also eligible to participate in the airdrop.
Although over a million wallets were eligible to claim a share of the 700 million airdropped tokens, the claiming process actually occurred back in January. Surprisingly, only 528,523 wallets ended up making a claim. This means that around half of the eligible users missed out on claiming their share of the tokens, effectively leaving money (or DYM) on the table. Consequently, these unclaimed tokens were redistributed to other users.
What is the Genesis Rolldrop launched by the Dymension?
Dymension, a platform enabling developers to create their own application chains known as RollApps, recently introduced its layer-1 blockchain solution. Leveraging Cosmos technology and the Inter-Blockchain Communication (IBC) protocol, Dymension ensures seamless interoperability with various other chains. Developers are given the flexibility to select virtual machines and tokens tailored to their RollApps specific needs.
The highly anticipated genesis rolldrop by Dymension attracted participation from over a million unique wallets across various blockchain communities. Users from ecosystems such as Solana, Celestia, and Ethereum scaling networks like Arbitrum and Optimism, along with emerging networks like Base and Blast, eagerly joined the initiative.
Notably, certain NFT communities, including renowned Ethereum collections like Pudgy Penguins, as well as Solana-based projects such as Mad Lads and Tensorians, were also eligible participants.
Despite the significant outreach, only 528,523 wallets successfully claimed their share of the 700 million tokens allocated for the airdrop. This highlights the importance of user engagement, as nearly half of the eligible users missed out on the opportunity, resulting in the redistribution of unclaimed tokens to other participants.
The launch of Dymensions genesis rolldrop closely follows the highly anticipated $527 million JUP airdrop by decentralized exchange aggregator Jupiter on Solana, indicating growing momentum within the blockchain community.
What are the phases of Roll-ups?
Furthermore, Dymension introduces significant developments in its RollApps infrastructure, aiming to revolutionize the deployment of decentralized applications (dApps).
2D Permissioned RollApps: With the success of Genesis and the stabilization of Dymension Hub, RollApp X, the first-ever mainnet IBC-rollup, is poised to launch on the Interchain. This milestone sets the stage for The Draft, where prominent RollApps transition from testnet to mainnet, kicking off Rolldrop Season 2.
3D Permissionless RollApps: With stable rollups on The Draft, Dymension enters the Permissionless RollApps phase, eliminating the need for governance approval. This phase promotes decentralized innovation, leveraging human creativity and crypto incentives to drive exponential growth in the blockchain marketplace.
4D Dymension leaps: In the final phase, known as 4D, Dymension leaps into an interconnected online ecosystem. This advanced stage ushers in a self-sustaining on-chain economy that seamlessly integrates a multitude of autonomous crypto services, games, and applications from across the globe. This integration fosters a vibrant digital marketplace where users can explore, interact, and transact with ease.
Where to Buy Dymension in 2024?
Tron can be purchased on various exchanges, with Bitget being a notable option. Bitget offers a user-friendly platform with robust security measures, making it an excellent choice for buying and trading Tron. Additionally, Bitget fees are one of the lowest in the market, so you wont have to worry about high fees if you trade regularly.
Read more: https://cryptoticker.io/en/dym-price-surges-dymension-airdrop/
Text source: CryptoTicker
