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Dymension is a layer-1 blockchain built on Cosmos and the inter-blockchain communication protocol (IBC) to enable connections across various rollup scaling networks. “Dymension standardizes rollups with IBC, similar to how tokens were standardized with ERC,” Dymension wrote on Twitter (aka X), referring to Ethereum’s token standards.
The network lets RollApp creators choose which virtual machine and token to use, and can publish data to external chains like Celestia or Avail. Dymension CEO and co-founder Yishay Harel told Decrypt that the L1 network uses Ethereum Virtual Machine (EVM) addresses.
On Tuesday, Dymension revealed its “genesis rolldrop,” which offers up DYM tokens to eligible users until January 21. United States residents cannot participate in the airdrop. However, a wide array of other crypto users are eligible for the airdrop, with some 70 million DYM tokens (7% of the supply) being offered up.
Starting today, over one million addresses have the opportunity to participate in Dymension’s Genesis Rolldrop!
Eligible participants can claim up to 70M DYM (7% of total supply), the native asset of Dymension, until 21 January 2024, 12:00 UTC
— Dymension (@dymension) January 2, 2024
Full details are available in this blog post, but eligible users include those who staked the TIA token in Celestia as of December 19, 2023, along with users of Ethereum layer-2 networks Arbitrum, Optimism, Base, and the upcoming Blast based on certain criteria.
Cosmos Hub and Stride users who meet certain eligibility can also claim DYM tokens, along with users of the Osmosis decentralized exchange (DEX).
More than 500,000 Solana users are also eligible, according to the post, including addresses that have used protocols like cross-chain bridge Wormhole, leading NFT marketplace Tensor, and NFT distribution platform Drip.Haus.
Additionally, owners of Pudgy Penguins, Mad Lads, Tensorians, and Bad Kids NFTs can also claim an allotment of DYM tokens. Pudgy Penguins is minted on Ethereum, Mad Lads and Tensorians are on Solana, and Bad Kids is on the Cosmos-based Stargaze chain.
Lastly, following the genesis airdrop, Dymension has proposed allocating a further 2.5 million DYM to users who bridge funds to the chain from other networks. Eligible tokens include USDC, TIA, USDT, ATOM, ETH, and SOL, with that program expected to begin about a week following the upcoming Dymension airdrop launch.
Dymension joins a growing list of networks and projects that are dropping their tokens lately, including recent high-profile airdrops from Jito and Pyth Network and upcoming drops from the likes of Jupiter, Starknet, Portal, Frame, and Blast.
Edited by Ryan Ozawa.