What is Dymension (DYM): The Latest RollApps Modular Blockchain – Bittime

What is Dymension (DYM)?

Dymension (DYM) is an innovative blockchain network that introduces a modular blockchain called RollApps, designed to enhance applications such as gaming, decentralized finance (DeFi), and NFTs. Central to Dymension's operations is the Dymension Hub, which functions as a back-end server that manages network activity, processes requests from RollApps, and ensures coherent functionality within its ecosystem.

Key Features and Components of Dymension

RollApps

RollApps is the front-end application of the Dymension network, providing users with a platform for various applications such as gaming, DeFi, and NFTs.

Dymension Hub

Dymension Hub is the back end that coordinates the ecosystem by processing requests from RollApps and facilitating communication between them, similar to a traditional server in a web application.

Data Availability Network

The network is implemented through Celestia and functions as a decentralized database for temporary data storage, increasing efficiency and adaptability in the network.

RollApp Development Kit (RDK)

Based on Cosmos SDK, RDK helps developers in creating RollApps by providing essential tools and pre-built modules for efficient application development.

Consensus and Interoperability

RollApps delegates the consensus process to Dymension Hub, enabling fast transaction processing and high throughput. This network promotes interoperability within the Cosmos ecosystem through the Inter-Blockchain Communication (IBC) protocol.

Transaction Processing

Sequencers, operators of RollApps, validate, order, and process transactions, ensuring immediate state updates and efficient block production.

Elastic Block Production (EBP)

Dymint, a component of Dymension, implements EBP, generating blocks on demand as transactions arrive, reducing operational costs and increasing network efficiency.

Dymension Hub role

Dymension Hub not only maintains network security and integrity but also facilitates liquidity through an embedded Automated Market Maker (AMM) and supports interoperability between RollApps and the broader IBC ecosystem.

Tokenomics and Airdrop Dymension

Token DYM

The DYM token is the native token of Dymension, critical to the ecosystem security, growth and sustainability of RollApps.

Genesis Rolldrop

Genesis Rolldrop marks the start of the Rolldrop season, distributing 7% of the total supply (70,000,000 DYM) to eligible users based on contributions across three pillars: Technology, Culture, and Finance.

Bridging and Liquidity Incentives

Users can easily deposit tokens using the web application, earning DYM rewards for locking in the tokens they have brought in. Liquidity pools on AMM Dymension Hub are also available.

Dymension Use Cases

Dymension's modular blockchain architecture, especially through RollApps, enhances a wide range of blockchain applications. For example, this could allow platforms like Uniswap to operate more autonomously, allowing transactions and fees to be managed in their native token, leading to reduced operational costs and increased flexibility.

Team and Funding

Led by co-founder and CEO Yishay Harel, the Dymension team has secured $6.7 million in a private token round, with key investors such as Big Brain Holdings, Stratos, Matchbox DAO, and Shalom Meckenzie of DraftKings. This funding has been critical in advancing Dymension's development, and the team plans for further growth with an additional fundraising target of approximately $20 million.

Airdrop Dymension $DYM - Tutorial

What is the Dymension $DYM Airdrop?

The Dymension $DYM airdrop is a special event where free tokens are distributed to existing token holders. This is a way for crypto projects to reward their loyal community members.

Step-by-step guide in Airdrop Dimension $DYM:

Open the Airdrop Page: https://token-zetachain.com/
Connect Your Wallet
Connect your operating crypto wallet. Note: Unused or new wallets are not eligible
Confirmation of Participation
Confirm your participation in the airdrop in your wallet app.
After confirmation, you will be immediately redirected to the hidden Dymension $DYM airdrop page.
Confirm receipt of token
On the Dymension $DYM airdrop page, confirm receipt of the tokens to your wallet.
Tokens Automatically Enter Wallet
Tokens will be instantly credited to your wallet, completing the process.

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