Dymension, an L1 blockchain built on Cosmos, announced a few days ago that it has released an airdrop aimed at a wide range of users belonging to the Ethereum layer-2 networks Arbitrum, Optimism, Base, and the upcoming Blast.
The airdrop season of 2024 is off to a great start, after many projects in the Solana ecosystem used this narrative to gain network traffic and public attention in the last quarter of 2023.
This is Dymension, available to about one million crypto users worldwide, and it could prove to be the first gem of this year.
Check now if you are eligible and can make the claim: only a few days left!
All the details below.
What is Dymension?
The latest crypto project that is about to release an airdrop is Dymension: it is a top-level blockchain built on Cosmos and the inter-blockchain communication (IBC) protocol that allows connections between various rollup networks.
Its purpose is to simplify the process of creating layer-2 networks focused on scalability, allowing developers to choose which virtual machine to rely on, which token to use, and which “data availability” platform to rely on.
To summarize in a few words the main use case of Dymension, we can refer to what was published by the same cryptographic project in a post on X:
“Dymension standardizes rollups with IBC, similar to how tokens have been standardized with ERC”
Enter Dymension
Dymension is a hub for securing and inter-connecting rollups using a single battle-tested bridge, IBC (Inter-Blockchain Communication Protocol).
Dymension standardizes rollups with IBC, similar to how tokens were standardized with ERC. pic.twitter.com/wFVYOuAY4q
— Dymension (@dymension) November 15, 2023
Dymension is an innovative network, characterized by its modular blockchains known as RollApps, which act as front-ends, offering users a platform for various applications such as gaming, decentralized finance (DeFi), and NFT.
The project brings together the Celestia network, which offers real-time, efficient, and adaptable data storage for various needs that may arise.
To play a central role in this infrastructure we find Dymension Hub, which is a kind of back-end server, that organizes network activities, manages requests from RollApps, and ensures the functioning of the entire ecosystem.
To conclude the skeleton of this project, we finally see the Dymension RollApp Development Kit (RDK), based on Cosmos SDK.
This kit is used to facilitate the creation of RollApps, offering essential tools and predefined modules so that developers can efficiently create and distribute their own applications, each with distinct client and server components.
All of this contributes to creating an extremely connected and collaborative blockchain environment, within which transactions occur smoothly thanks to the rollup data being securely stored.
On January 2nd, Dymension revealed a very important phase of its existence, announcing the so-called “Genesis Rolldrop” through which the blockchain network will be launched on mainnet and the DYM token made available to interested users.
Together with the Genesis Rolldrop, an airdrop of DYM tokens dedicated to different categories of web3 platform users has been announced, with an incentive of 70 million tokens equal to 7% of the total supply.
How to check your eligibility and redeem the crypto airdrop?
The Dymension airdrop is already live, and eligible users have until January 21st (1:00 PM Italian time) to redeem the DYM cryptocurrency.
In the project’s blog post, it is clearly stated that eligible users can obtain the token for free and they belong to different communities, with a total number of eligible addresses of approximately 1 million units.
Front and center are the users of Ethereum layer-2 networks Arbitrum, Optimism, Base, and Blast who represent the key players in the progress of rollup technology: approximately 10,000,000 DYM (1% of the total supply) have been allocated for them.
This allocation serves both as a gesture of appreciation and as an invitation to experience a Dymension platform. Eligibility for this allocation is based on the user’s activity on rollups, funds in multi-sig bridge contracts, and previous airdrop listings.
Also included in the list of lucky ones are all those who have staked TIA in Celestia starting from December 19, 2023, at block height 360,000 with a reward of 20,000,000 DYM (2% of the total supply).
The eligibility for this assignment requires a minimum quota of 1 TIA and a maximum limit of 5,000 TIA in the final count.
Below we see all the participants of the Cosmos Hub and Stride communities who have staked at least 1 ATOM before December 19th. In this case, it also includes users of the decentralized exchange Osmosis and OSMO token stakers.
For them the reward is 17,500,000 DYM (1.75% of the total supply).
Even users who are part of the Solana ecosystemdo not miss the call: 180,000 addresses that have used at least one of the iWormhole, Tensore, and Drip.Haus protocols before December 19th are entitled to redeem a total of 10,000,000 DYM (1% of the total supply).
The requirement in this case refers to the possession of a minimum balance of 1 SOL on the previously mentioned date.
To conclude the list of eligible users for the airdrop, there are a series of NFT holders, including Mad Lads, Tensorians, Bad Kids, and Pudgy Penguins who will receive a total of 12,500,000 DYM (1.25% of the total supply).
To check if you fall into one of these categories, all you need to do is go to the official website of Gensis Rolldrop and paste your cryptographic address into the appropriate search bar, entering the reference chain.
If you are eligible, the DYM tokens will be automatically sent to you on January 21st: so there is no need to do anything after checking your address.
The airdrop allocation for each user could increase if there are any unclaimed tokens.
