The mainnet is about to be launched, with nearly 530,000 addresses airdropped: Is Dymension really going to be popular this year?

Dymension has obvious advantages in terms of shared security, developer friendliness, and embedded Rollup ecosystem. These features make it attract attention in the blockchain field.

Written by: Mr. Gumiho

According to the latest information released by Dymension on the X platform, its first season Rolldrop event has successfully concluded, with a total of 528,523 addresses participating in the event. Currently, unclaimed DYM tokens are being redistributed. In addition, the Dymension mainnet will also be launched soon. This series of major events has attracted widespread attention to Dymension.

The following will introduce this hot project in detail, aiming to provide investors with valuable information.

Dymension platform introduction: The modular blockchain platform on Cosmos has many innovations in technical architecture.

Dymension is a modular blockchain platform based on Cosmos with built-in scalability aggregation technology. This design differs from monolithic blockchains such as Ethereum, which handle all key functions such as consensus and settlement on the main chain and then provide a separate layer 2 network for such chains. Dymension’s exceptional success is built on several core building blocks, detailed below:

1. RollApps Internet: RollApps Internet consists of RollApps (Layer 2) and Dymension Hub (Layer 1), providing security, mobility and connectivity to provide users with a seamless experience while promoting the entire blockchain ecosystem. increase.

2. Simplify the blockchain: Dymension responds to the complexity of the blockchain and adopts IBC standardized aggregation to provide a simpler and more efficient way for blockchain users and promote the rise of the aggregation Internet.

3. Continuous optimization of the token model: Dymension’s monetary policy is one of the key elements of its success, adopting a carefully designed dynamic issuance model to ensure the stability, security and sustainability of the DYM token. The core idea of this policy is to automatically adjust the issuance amount according to the actual situation of the network to maintain the stability and sustainability of the token. This intelligent dynamic adjustment mechanism enables DYM tokens to maintain solid performance under different market conditions while motivating more holders to participate in staking, thereby enhancing the security and stability of the network.

4. Core building blocks:

Security: Secure cross-chain communication is achieved through IBC, eliminating the risk of multi-signature bridges.

Liquidity: Dymension Hub has a built-in liquidity layer that facilitates asset pricing, exchange, and efficient token routing.

Data, scale and cost: RollApps publishes transaction data to an external blockchain, creating a data marketplace that provides a foundation for ecosystem development.

Encrypted user experience: Simplified user experience, allowing developers to easily deploy RollApp and users to conveniently perform operations such as deposits, games, and withdrawals.

Overall, Dymension’s key building blocks provide it with a strong foundation, making it a high-profile project in the cryptocurrency space. Its innovative solutions and key building blocks will drive the entire blockchain ecosystem towards a simpler, safer and more efficient future.

From airdropping 70 million tokens to completing financing at a valuation of US$200 million, Dymension has been in hot spots recently.

Dymension’s recent activities and events have attracted widespread attention within the blockchain ecosystem. Next, we sort out these major events in timeline order:

1. Genesis Drop airdrop activity:

Dymension announced the launch of the Genesis Drop airdrop event on January 2, providing users of ecosystems such as Celestia, Ethereum, Cosmos and Solana with the opportunity to receive DYM tokens. A total of 70 million DYM tokens (7% of the total supply) were airdropped to eligible participants. This initiative attracted over one million addresses to participate, demonstrating Dymension’s appeal within the blockchain community.

2. Airdrop progress and updates:

On January 3, Dymension posted an update on the progress of the airdrop on social media. So far, 298,439 addresses have received airdrops, including some Cosmos ecosystem tokens. In addition, Dymension officials have added the previously missing SOL and ATOM addresses to ensure that qualified users can successfully receive airdrops. To further improve the user experience, Dymension has also added Solana’s Backpack and Phantom signatures to allow more users to participate.

3. Token economic model announced:

On January 18, Dymension announced its token economic model, providing more information to holders and stakers. According to the model, the initial supply of DYM tokens is 1 billion, and the initial issuance is 8%. The token distribution plan covers community pools, airdrops, investors, core developers and ecosystem, as well as incentive plans. In addition, Dymension adopts a mechanism to dynamically adjust the inflation rate to adjust the token’s inflation rate based on the actual pledge ratio to promote more DYM holders to participate in pledges and enhance the security and stability of the network.

4. The airdrop activity ended successfully:

On January 21, Dymension’s airdrop event concluded successfully, with a total of 528,523 addresses successfully applying for the airdrop. This event attracted great attention in the Cosmos ecosystem. More than one million addresses had the opportunity to participate in Dymension’s genesis Rolldrop and receive a total of 70 million DYM tokens.

5. Latest valuation and outlook:

Dymension recently successfully completed a funding round valuing the company at $200 million. While the token economics and market outlook are still developing, Dymension’s innovative nature and activity within the blockchain ecosystem have put it in the spotlight. The future development of Dymension will be affected by many factors, including whether major Dapps choose to launch Rollapp on it, and the marketing strategy of the Dymension BD team. With the end of the airdrop event, Dymension will continue to move towards successful development in the blockchain field, bringing more opportunities and challenges to the entire cryptocurrency market.

Comparing with AltLayer in multiple dimensions, Dymension has a series of outstanding advantages.

Dymension and AltLayer are both emerging projects in the blockchain space. They both focus on building rollup solutions, but they differ in some key aspects. This section will compare the two projects and highlight the advantages of Dymension.

1. Embedded rollup ecosystem: Dymension uses an embedded approach to build the rollup ecosystem, which means that it serves as a Tendermint PoS chain as the settlement center for the entire ecosystem. This approach enables all connected rollups to enjoy the same trust and security as the base layer, but is simpler, more secure, and more efficient. In contrast, AltLayer focuses more on launching its own dedicated execution environment, which can result in lower security and complexity.

2. Developer friendliness: Dymension provides a simple and easy-to-use framework that enables developers to build and deploy their own specific application rollups. This developer-friendly approach attracts more developers to participate, providing fuel for ecosystem growth. Although AltLayer also provides similar functions, it is more focused on the EVM world, while Dymension is more focused on vertically expanding Cosmos, providing more dimensions for the ecosystem.

3. Shared security and mortgage mechanism: Dymension’s shared security mechanism enables the security of the network to continue to increase as more RollApps are deployed on it. In order to deploy their own RollApp, developers need to bind DYM tokens to network validators, and these DYM tokens are staked in the Dymension Hub. This staking mechanism requires malicious actors to hold 2/3 of the staked DYM to gain control of the network, thus improving security. In comparison, AltLayer’s security mechanism may be lower because it focuses more on initiating its own rollup without the advantages of shared security.

4. Interconnection attributes: One of the core components of the Dymension ecosystem is the Inter Rollup Communication protocol (IRC), which is an IBC customized and fine-tuned specifically for rollup. This makes Dymension Hub a common foundation for rollups, enabling seamless bridging between rollups and providing users with an experience similar to Cosmos. This also opens the door for interoperability with other IBC-enabled App chains. Although AltLayer is also interoperable, it may not be as finely tuned as Dymension’s IRC.

To sum up, Dymension has obvious advantages in terms of shared security, developer friendliness, and built-in rollup ecosystem. These features make it highly visible in the blockchain field. Its innovative solutions and key building blocks provide a simpler, safer and more efficient future for the development of the entire blockchain ecosystem.