Cosmos-based ‘RollApp’ Platform’s Dymension Launched Mainnet with $350M Airdrop

Cosmos-based ‘RollApp’ Platform’s Dymension Launched Mainnet with $350M Airdrop

Reported by The Defiant, Dymension, a Cosmos-based modular blockchain platform, has launched its mainnet and nature DYM token. Eligible claimants can now access their tokens by connecting their wallets to the network.

DYM is trading at around $5 at the time of writing, giving the project a fully diluted valuation of $5B. The team allocated 70M DYM - 7% of the supply - to the airdrop.

Dymension aims to be the operational hub for RollApp development in the Cosmos ecosystem by standardizing rollups with the Inter-Blockchain Communication Protocol.

RollApps are modular blockchains that operate specifically with the Dymension Hub, offering the business model of rollups but allowing for a more efficient and scalable user experience. Through Dymension, all these RollApps can access the security, liquidity, and connectivity benefits of the larger Dymension Hub, which makes multi-app usage more convenient.

The initial phase focuses on enhancing economic security by aggregating substantial liquidity and stake to support the first batch of roll-ups on the mainnet. This is aimed at ensuring a robust and stable foundation for the network.

As the Dymension blockchain acquires a sufficient amount of delegated stake and the network's validators are effectively operational, the platform will move forward with "The Draft," involving Dymension governance approving various prominent RollApps to transition from testnet to mainnet.

Once the roll-ups successfully transition from testnet to mainnet and demonstrate stability, the permissionless RollApps phase will begin, allowing more developers to participate in the ecosystem.

Source

Cosmos

Airdrop

Related News
Linea filters over half a million Sybil addresses from upcoming token airdrop Linea filters over half a million Sybil addresses from upcoming token airdrop
Filecoin's largest protocol Glif set to airdrop 100 million tokens Filecoin's largest protocol Glif set to airdrop 100 million tokens
ZRO token falls 17% amid controversy over LayerZero’s ‘not an airdrop’ ZRO token falls 17% amid controversy over LayerZero’s ‘not an airdrop’
Layer 2 network Blast to roll out its token airdrop next week Layer 2 network Blast to roll out its token airdrop next week
LayerZero Introduces a Self-Reporting Mechanism to Tackle Sybil Activity LayerZero Introduces a Self-Reporting Mechanism to Tackle Sybil Activity
Latest News More More
1 Day Ago Ethereum devs agree to stop forking around and accelerate the roadmap
1 Day Ago CZ’s dog’s name sparks ‘Broccoli’ memecoin frenzy
2 Days Ago Ether shoots up 3.5% as CBOE, 21Shares seek to add ETH staking to ETF
3 Days Ago TON connects to Tether’s USDt ecosystem with LayerZero integration
5 Days Ago Story Protocol confirms public mainnet to launch on Feb. 1
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open