Dymension is a modular blockchain that allows for easy and quick deployment of app-chains, called RollApps.
On February 6th, Binance announced the listing of the DYM token at 15:00 on the same day. Dymension stated that the mainnet will soon be launched. DYM will be allocated to Genesis Rolldrop addresses on the Dymension blockchain.
Users can access http://portal.dymension.xyz to easily access the platform's utilities (swap, staking, RPC...).
Prior to this, Dymension announced the implementation of the Genesis Rolldrop airdrop program with 70 million DYM tokens (equivalent to 7% of the total supply) to be distributed through Genesis Rolldrop.
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What is Dymension?
Dymension is a layer 1 blockchain, built on the Cosmos SDK toolkit and connected to the Cosmos ecosystem through the IBC bridge. The platform possesses a modular blockchain structure, allowing upgrades and maintenance of each part of the system.
On February 9, the project announced a successful private round of capital raising of $6.7 million from large investors such as Big Brain Holdings, Stratos Technologies, MatchboxDAO, and Shalom Meckenzie...
Dymension launched a share airdrop program with a total prize pool of up to 1,000,000 DYM tokens recently, promising many unique campaigns to attract investors in the future
See more: Guide to participate in the Dymension testnet share pool 1,000,000 $DYM reward
Characteristics of Dymension
Blockchain technology: The platform uses blockchain technology with Proof-of-Stake consensus mechanism provided by SDK. The mechanism allows connecting the centralized network layer and the consensus layer using Tendermint software, helping to build an intuitive, easy-to-operate interface for users and developers.
RollApp: Dymension is developed based on RollApp, uses Dymension RDK to customize Rollup Chain, and operates through Sequencer. Users need to stake DYM tokens to execute orders on Sequencer.
Dymension Hub: Dymension Hub uses the Tendermint Core state replication model for transaction confirmation and network connectivity. Aggregate service optimization feature, creating an interaction hub between RollApps.
Modular structure: The project is built according to a Modular structure, allowing the choice of execution environment (including EVMOS EVM, Polaris EVM, CosmWasm) and data storage at low cost.
Optimistic Rollup: The platform uses Optimistic Rollup technology and Fraud Proof to verify transactions.
DYM token: DYM token is used to pay fees and participate in platform governance through voting. AMM provides liquidity for token trading.
Asset transfer with IBC Bridge: Dymension allows RollApps to link together and transfer assets with layer 1 via IBC Bridge. Tokens are locked on the source chain and new mints are on the destination chain. Trading on the platform is verified by Dymension Hub, ensuring safety and increased security.
How Dymension works
RollApps can maintain an average processing time of 0.2 seconds with a maximum TPS of approximately 20,000 transactions. The operating mechanism of the platform is carried out in turn according to the following steps:
Users execute trading orders on RollApp.
Transactions will be verified by Sequencer and automatically included in a block.
The Sequencer sends the block containing the transaction as Call Data to the Dymension Hub and sends the transaction proof to the DA layer.
After the DA layer returns the path to the stored evidence, the Sequencer will confirm the current state of the RollApp and send the state root information and the evidence path to Dymension Hub.
Conclude
Dymension is RollApps scalable modular blockchain, helping to create favorable conditions for developers to build their own application chains. The project uses the RDK infrastructure and development toolkit to enhance the connectivity of RollApps. The platform is implementing airdrops, promising strong growth in the future.
