The highly anticipated Dymension network launched its mainnet on Tuesday, accompanied by a massive airdrop of DYM tokens worth over $390 million.
The highly anticipated Dymension network launched its mainnet on Tuesday, accompanied by a massive airdrop of DYM tokens worth over $390 million. This fueled a 30% surge in the token's price, reaching $5.20 at the time of writing, and generating almost $376 million in trading volume across major exchanges.
Dymension is a unique platform enabling developers to build their own application chains, dubbed "RollApps." This layer-1 blockchain leverages Cosmos technology and the IBC protocol for seamless interoperability with other chains. Developers enjoy flexibility in choosing virtual machines and tokens for their RollApps.
The "genesis rolldrop," as Dymension termed it, reached over a million unique wallets across various blockchains and communities. Participants included users on Solana, Celestia, Ethereum scaling networks like Arbitrum and Optimism, and upcoming networks like Base and Blast. Certain NFT communities were also eligible, such as the popular Ethereum collection Pudgy Penguins, along with Mad Lads and Tensorians on Solana.
While over a million wallets were eligible for the 700 million airdropped tokens, only 528,523 actually claimed them. This means nearly half of eligible users missed out, with their unclaimed tokens being redistributed to others. This follows the recent, highly-anticipated $527 million JUP airdrop by decentralized exchange aggregator Jupiter on Solana.
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