Dymension, the blockchain network powering “RollApps,” has successfully launched its mainnet, dispersing substantial amounts of DYM tokens to users on Solana, Ethereum scaling platforms, and other connected communities.
The much-anticipated airdrop occurred on Tuesday simultaneous with the activation of the network’s mainnet, delivering a total value exceeding $390 million in DYM tokens to early adopters and selected communities, amplifying the token’s value post-launch.
As of the latest data from CoinGecko, DYM has experienced a 58% surge in a single day, reaching a current price of $5.60. Trading activity, totaling around $246 million, has been observed on prominent exchanges like Binance, ByBit, and KuCoin. The airdrop encompasses 700 million DYM tokens, constituting 7% of the total supply.
Dymension stands as a versatile network, enabling developers to deploy app chains named RollApps. Built on Cosmos technology and the inter-blockchain communication protocol (IBC), this layer-1 blockchain seamlessly connects with various other chains. Builders have the flexibility to select from a range of virtual machines and tokens for their RollApps.
The “genesis rolldrop,” a term coined by Dymension, was accessible to over a million unique wallets spread across diverse chains and communities. Notable networks like Solana, Celestia, and Ethereum scaling networks such as Arbitrum, Optimism, Base, and the upcoming Blast were included. Additionally, specific communities, including holders of NFT collections like Pudgy Penguins on Ethereum, Mad Lads, and Tensorians on Solana, had the opportunity to participate.
Despite more than a million wallets being eligible for a share of the 700 million airdropped tokens, the claiming process occurred in January, with only 528,523 wallets making a claim. This implies that approximately half of the eligible users did not participate, leaving potential earnings (in DYM) unclaimed. These unclaimed tokens were subsequently redistributed to other users.
As of now, the DYM airdrop holds the position of being the second-largest token distribution in 2024, based on the total value of the distributed tokens. It follows the decentralized exchange (DEX) aggregator Jupiter on Solana, which airdropped 1 billion JUP last week, valued at $527 million at the current price.
