NOIDA (CoinChapter.com) — Blockchain project Dymension recently revealed an airdrop campaign of its native token, DYM, along with the launch of its mainnet.
The announcement attracted buyers to the market and helped push DYM’s price to a new ATH on Feb. 7.
DYM price rocketed more than 32% to reach a daily high near $6 before paring some of its gains and trading near $5. The token also reached a trading volume of nearly $434 million over the past 24 hours, a nearly 2.9 million percent hike per CMC data.
Dymension Airdrops Tokens To Over A Million Users
Dymension announced that its airdrop, dubbed the “genesis rolldrop” by the project, would disburse 70 million DYM tokens to support its ecosystem’s growth and engage the community. The airdrop includes Ethereum L2 users, Cosmos, Celestia, Solana participants, and NFT holders.
The eligibility for the Dymension airdrop hinges on specific criteria, such as staking TIA, ATOM, stATOM, and OSMO by Dec. 19, 2023, and holding at least 1 SOL on Solana protocols. Additionally, NFT holders of selected projects also received airdrops.
The deadline for claiming the airdrop was set for Jan. 21, 2024, after which unclaimed tokens were redistributed to claimants. Out of a million eligible wallets, just over 528,000 wallets claimed their airdrops.
Interestingly, several users complained that the Dymension airdrop tokens mysteriously disappeared from their wallets. Some others shared that their DYM token holdings diminished by over 99% after connecting to the Dymension mainnet.
Moreover, many users also faced issues like getting error messages when transferring DYM tokens to other wallets. The issues prompted users to question the project’s legitimacy, with some alleging that they got scammed.
What Is The Dymension Project
Dymension is a blockchain network that aims to enhance user experience through its modular blockchains called RollApps. The RollApps help develop app-specific chains, facilitating various applications from gaming to decentralized finance (DeFi) and NFTs.
The project leverages the Cosmos SDK and Celestia DA for its infrastructure, scalability, interoperability, and efficient data management.
Central to Dymension’s architecture is the Dymension Hub, which acts as the ecosystem’s backbone, orchestrating network activities and managing interactions among RollApps.
The setup allows for rapid transaction processing and creates a collaborative ecosystem within Cosmos through the Inter-Blockchain Communication (IBC) protocol. The project’s native token, DYM, has a total supply of 1 billion tokens, of which 146 million DYM tokens are in circulation.
