About
Dymension Hub (Dymension) is a Layer-1 network that serves as a modular settlement and consensus layer, whereas its application-specific Layer-2s serve as modular execution layers. Dubbed “RollApps,” the Layer-2s are “enshrined,” meaning Dymension is aware of them and is optimized for maintaining the state of each one. This is in contrast to Ethereum Layer-2s, which rely on smart contracts on Ethereum for settlement and data availability.
History
Founded by Yishay Harel and Barry Kuts, Dymension was first announced in April 2022 and aims to be the “home for easily deployable and lightning fast app-chains, called RollApps.” In September 2022, Dymension released an updated roadmap for its testnet and mainnet launches. In February 2023, the permissioned Dymension Hub 35-C non-incentivized testnet went live. In August 2023, the permissionless Froopyland incentivized testnet went live.
On Feb. 6, 2024, Dymension’s mainnet was launched. Simultaneously, Dymension’s native token, DYM, went live as the Genesis Rolldrop distributed 70.00 million DYM (7.00% of the initial total token supply).
Dymension’s mainnet is live and functional, with usage metrics seen here. As of February 2024, no RollApps have been deployed, and DYM can only be used to stake to operate a validator, delegate to a validator, or vote on governance proposals. Several of Dymension’s features, such as IBC Bridge and the embedded automated market maker (AMM), will become live once RollApps launch. While no timelines have been announced, Dymension plans the following formal stages for the network:
“The Singularity Point:” This stage plans to introduce the first governance proposals and begin an incentive program to incentivize users to bridge tokens to Dymension and provide liquidity to the network.
“2D Permissioned RollApps:” This stage plans to launch the first RollApp, “RollApp X,” after which “The Draft” will be launched where governance can approve various prominent testnet RollApps to launch on mainnet. This stage is also planned to be the start of Rolldrop Season 2.
“3D Permissionless RollApps:” This stage plans to remove the need for governance to approve RollApp launches and make RollApp creation permissionless. This stage also plans to introduce RollApp Credit Streams that distribute DYM to the top RollApps by total value bridged (TVB).
“4D Internet of RollApps:” The final stage envisions a “circular and self-sustainable onchain economy that interconnects countless autonomous crypto services, games, and applications throughout the globe.”
