It's a new year, but the airdrop season shows no signs of slowing down in 2024. The latest project to join the airdrop frenzy is Dymension, a network for deploying app chains called RollApps. Dymension, built on Cosmos and the inter-blockchain communication protocol (IBC), aims to enable connections across various rollup scaling networks. The network recently announced a token drop for over a million crypto users across different chains and projects.
Standardizing Rollups with IBC
Dymension sets itself apart by standardizing rollups with IBC, similar to how tokens were standardized with ERC on Ethereum. This approach allows RollApp creators to choose their preferred virtual machine and token and publish data to external chains like Celestia or Avail. By leveraging Ethereum Virtual Machine (EVM) addresses, Dymension aims to provide a familiar environment for developers and users.
Genesis Rolldrop and Eligibility
On Tuesday, Dymension unveiled its genesis rolldrop, offering DYM tokens to eligible users until January 21. Unfortunately, residents of the United States cannot participate in the airdrop. However, a wide array of other crypto users are eligible, with a total of 70 million DYM tokens (7% of the supply) being offered.
Cosmos Hub and Stride users who meet certain eligibility criteria can claim DYM tokens, along with users of the Osmosis decentralized exchange (DEX). Additionally, more than 500,000 Solana users, including those who have used protocols like Wormhole, Tensor, and Drip Haus, are also eligible for the airdrop. Furthermore, owners of Pudgy Penguins, Mad Lads, Tensorians, and Bad Kids NFTs can claim an allotment of DYM tokens. Each of these NFT projects represents a different chain, with Pudgy Penguins on Ethereum, Mad Lads and Tensorians on Solana, and Bad Kids on the Cosmos-based Stargaze chain.
Further Incentives for Bridging Funds
In addition to the initial airdrop, Dymension has proposed allocating an additional 2.5 million DYM tokens to users who bridge funds to the chain from other networks. Eligible tokens include USDC, TIA, USDT, and WBTC. This move aims to encourage users to bring liquidity and assets from other networks, further expanding the reach and adoption of the Dymension ecosystem.
Conclusion
Dymension's token drop for over a million crypto users across various chains and projects demonstrates the continued popularity and appeal of airdrops in the crypto space. By standardizing rollups with IBC and leveraging EVM addresses, Dymension aims to provide a seamless experience for developers and users. The eligibility criteria for the airdrop encompass a wide range of users, including those on Cosmos, Solana, and Ethereum-based projects. Furthermore, the proposal to allocate additional tokens for users who bridge funds from other networks highlights Dymension's commitment to building a vibrant and interconnected ecosystem.
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