Dymension (DYM) Price Jumps 50% Amid Mainnet Launch and Airdrop

Within two hours of its debut, the Dymension (DYM) price skyrocketed by a staggering 50% following the successful mainnet launch of the platform. The launch of the Dymension platform comes along with a massive airdrop of $390 million worth of DYM tokens.

The trading volume for DYM token has surged by 2838852.88% all the way to $412 million. At press time, the DYM token is trading 26% up at a price of $5.04, subsiding considerably after touching a high of $6.08 earlier today.

Dymension Launches Genesis Rolldrop

Dymension is an innovative platform empowering developers to construct their own application chains called “RollApps”. They have recently debuted their layer-1 blockchain solution. Built on Cosmos technology and the Inter-Blockchain Communication (IBC) protocol, Dimension ensures seamless interoperability with a multitude of other chains. Developers get the freedom to select virtual machines and tokens tailored to their RollApps’ specific requirements.

The much-anticipated “genesis rolldrop” by Dymension has made waves across various blockchain communities, attracting participation from over a million unique wallets. Engaging users from ecosystems such as Solana, Celestia, and Ethereum scaling networks like Arbitrum and Optimism, alongside emerging networks like Base and Blast, the initiative garnered significant attention.

Notably, select 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 substantial outreach, of the 700 million tokens allocated for the airdrop, only 528,523 wallets successfully claimed their share. This outcome underscores the significance of engagement, as nearly half of the eligible users failed to seize the opportunity, resulting in the redistribution of unclaimed tokens to other participants.

The launch of Dymension’s genesis rolldrop follows closely on the heels of the highly-anticipated $527 million JUP airdrop by decentralized exchange aggregator Jupiter on Solana, adding to the growing momentum within the blockchain community.

Different Phases for Dymension Roll-Ups

Furthermore, Dymension also unveils significant developments in its RollApps infrastructure, aiming to revolutionize decentralized applications (dApps) deployment.

1. 2D Permissioned RollApps: Following the success of Genesis and the stabilization of Dymension Hub, RollApp X, the first-ever mainnet IBC-rollup, is set to launch on the Interchain. This milestone paves the way for ‘The Draft,’ where prominent RollApps transition from testnet to mainnet, kicking off Rolldrop Season 2.
2. 3D Permissionless RollApps: With stable rollups on ‘The Draft,’ Dymension enters the Permissionless RollApps phase, eliminating the need for governance approval. This phase encourages decentralized innovation, leveraging human ingenuity and crypto incentives to foster exponential growth in the blockchain marketplace.
3. 4D Internet of RollApps: The ultimate phase, 4D, propels Dymension into an interconnected online ecosystem. This self-sustainable on-chain economy integrates numerous autonomous crypto services, games, and applications worldwide, facilitating a thriving digital marketplace.

Thus, Dymension’s advancements signify a significant step towards decentralization, fostering innovation and growth in the blockchain industry

✓ Share:

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.