Dymension’s Mainnet Launch Sparks $390 Million Token Airdrop Frenzy
Dymension’s highly anticipated airdrop unfolded on Tuesday with the simultaneous launch of the network’s mainnet, distributing over $390 million worth of DYM tokens to early users and select communities.
CoinGecko data reveals a remarkable 58% surge in DYM’s value, reaching $5.60, accompanied by a substantial $246 million trading volume on platforms like Binance, ByBit, and KuCoin. The airdrop encompassed 700 million DYM tokens, equivalent to 7% of the total supply. Dymension, a network facilitating the deployment of app chains known as RollApps, operates as a layer-1 blockchain utilizing Cosmos tech and the inter-blockchain communication protocol (IBC) to connect with various chains.
The “genesis rolldrop” welcomed participation from over a million unique wallets across diverse chains and communities, including Solana, Celestia, and Ethereum scaling networks like Arbitrum, Optimism, Base, and Blast. Notable communities, such as Pudgy Penguins NFT holders on Ethereum, Mad Lads, and Tensorians on Solana, also had the opportunity to partake in the airdrop. Despite over a million eligible wallets, the January claim event saw participation from 528,523 wallets, resulting in the redistribution of unclaimed tokens. Currently, DYM ranks as the second-largest token airdrop of 2024, trailing Solana-based DEX aggregator Jupiter, which distributed 1 billion JUP tokens last week, valued at $527 million.
Clever Robot News Desk 7th February 2024
