Yesterday, the Dymension project launched an airdrop, targeting users who staked TIA and ATOM on the Celestia and Cosmos networks, and other players to airdrop DYM tokens.
Chuxiao Chain just happened to be staking TIA and received a small amount of DYM; another Ethereum wallet address may have done some interactions and was active on the chain before, and also received a minimum living allowance.
What an unexpected harvest. Although I don’t know the future price of DYM, Liao is better than nothing. It can be regarded as the first airdrop harvest in 2024.
①What is Dymension?
Dymension is a modular blockchain network designed to ensure RollApp security and interoperability using the Inter-Blockchain Communication (IBC) standard.
Dymension uses Data Availability Networks to enhance data processing capabilities and provides a RollApp development toolkit that is easy for developers to use.
Dymension has modular blockchains called RollApps. These RollApps serve as front-ends and provide users with a diverse application platform, such as games, decentralized finance (DeFi) and NFT.
The Dymension Hub is the core of its operation, similar to a backend server, responsible for coordinating network activity, managing requests from RollApps, and ensuring consistency of functionality within the ecosystem.
Dymension has gained the attention of the market and developers through innovative consensus mechanisms and interoperability functions. RollApps delegates the consensus process to the Dymension Hub, which maintains network integrity and manages state root updates.
This delegation mechanism enables fast transaction processing and high transaction throughput, and also promotes smooth interoperability within the Cosmos ecosystem through the IBC protocol, thereby establishing an interconnected and collaborative ecosystem.
②How to receive the Dymension airdrop?
Dymension’s native token is DYM, with a total supply of 1 billion. It is part of network operations and user rewards. It initiates token distribution through Genesis Rolldrop to attract and develop its community.
Users who are eligible for the airdrop can apply for the airdrop at genesis.dymension.xyz before January 21st. The Genesis Airdrop allocates 70,000,000 DYM, which is 7% of the total supply.
Addresses for staking TIA and ATOM in Celestia and Cosmos;
Addresses that are active in Ethereum L2 projects, such as Arbitrum, Optimism and Base, or have high gas consumption;
Wormhole, Tensor and Drip on the SOLANA network are waiting for protocol active addresses;
Users who hold Pudgy Penguin, Bad Kids and other NFTs can check to see if they are eligible for short investment.
Judging from the airdrop profits shared on Twitter, the number ranges from dozens to hundreds. There is a player who is relatively active on the SOL chain and received more than 900 DYM airdrops.
③Dymension project background
Dymension has secured $6.7 million in funding, primarily through private token financing.
The team, which currently consists of nine members, is planning to grow further and plans to raise approximately $20 million more in funding before the mainnet launch.
As the Cancun upgrade approaches, Ethereum L2 projects such as ARB and OP have seen good growth. The upgrade has promoted the continued development of the Ethereum ecosystem.
Modular blockchain, due to its scalability, simplified blockchain creation and flexibility, is becoming more and more popular in the market and attracting more and more developers.
Last year's Celestia airdrop, coupled with the recent huge increase in TIA, showed the market and capital's continued attention to modular blockchain.
I don’t know what the launch price of DYM will be, but Dymension has launched the first airdrop in 2024, and we look forward to more performance and opportunities for DYM.
The crypto market may develop into a bull market in 2024. Although the Matrixport agency’s one-sided view of “bullish and bearish” orders in the past two days has caused huge fluctuations in the market, the overall market is developing towards a bull market.
We look forward to more airdrops coming online to stimulate the market, such as the airdrops of several L2 projects, zkSync, Starknet, Layerzero and other projects, which make interactive players love and hate them, and they don’t know when the airdrops will be online.
There are opportunities in the market, but as long as you don't leave the market and don't move forward with a heavy contract, there will always be unexpected gains.
The above is just my personal opinion, no investment advice. I am Chuxiaolian, and I am paying attention to the encryption market and web3.
