Overview of the Distribution Rules for the Genesis Airdrop of Modular Blockchain Dymension
Dymension is airdropping to Celestia, Ethereum Layer2, Cosmos, Solana, and NFT holders. Users can claim before 20:00 Beijing time on January 21, 2024.Author: Peng SUN, Foresight News
Winter is leaving, and spring is not far away.
On the first working day of 2024, the market was filled with positive news about Bitcoin spot ETFs. Starting from the morning, Bitcoin broke through 45,000 USDT, reaching a new high since April 2022; ETH also surpassed 2,400 USDT.
In the evening, the Cosmos ecosystem sounded the horn for the first major event of 2024. The modular blockchain network Dymension announced the launch of the Genesis Drop event, which will airdrop 70 million DYM (7% of the total supply) to users in the Celestia, Ethereum, Cosmos, and Solana ecosystems.
It has become a consensus within the community that the Cosmos ecosystem will see multiple major events in the next bull market. Accordingly, Foresight News will detail the Dymension airdrop rules to see if you qualify to claim the DYM Genesis airdrop for the first season.
What is Dymension?
Dymension is a modular blockchain network that uses Cosmos and Celestia technology, aiming to ensure the security and interoperability of RollApps using the IBC standard.
Currently, Dymension has launched the incentivized testnet Froopyland, allowing developers to deploy IBC RollApps without permission.
Previously, in February 2023, Dymension completed a $6.7 million seed round of financing, led by Big Brain Holdings and Stratos, with participation from Matchbox DAO, Shalom Meckenzie of DraftKings, and others.
Token Economics
At present, Dymension has not disclosed its token economics, but it can be calculated that the total supply of DYM is 1 billion. In August last year, Dymension stated that 1% (10 million) of its token DYM's initial supply would be allocated to the three-month-long Froopyland incentivized testnet. Specifically, 10% of the rewards will be allocated to RollApps (1 million), 10% to users (1 million), 40% to validating nodes (4 million), and 40% to RollApp deployers (4 million).
Who can receive the airdrop?
- Dymension will distribute airdrops to holders of Celestia, Ethereum Layer2, Cosmos, Solana, and NFTs, and users can claim them before 20:00 Beijing time on January 21, 2024. Specifically:
- Celestia: As of December 19 (block height 360,000), users who staked at least 1 TIA and up to 5,000 TIA on Celestia are eligible to receive 20 million DYM, accounting for 2% of the total supply;
- Ethereum Layer2: Dymension will provide 10 million DYM to users of Arbitrum, Optimism, Base, and Blast, accounting for 1% of the total supply. Eligibility depends on user activity, assets in multi-signature cross-chain bridge contracts, and previous airdrop situations;
- Cosmos: Dymension will allocate 17.5 million DYM to users in the Cosmos ecosystem, accounting for 1.75% of the total supply; among them, 15 million DYM will be allocated to users who staked at least 1 and up to 5,000 ATOM on Cosmos Hub as of December 19, and to users who held at least 1 and up to 5,000 stATOM on Stride; 2.5 million DYM will be allocated to users who held at least 10 and up to 10,000 OSMO on Osmosis as of December 19;
- Solana: 10 million DYM will be allocated to over 500,000 addresses on protocols such as Wormhole, Tensor, and Drip.Haus, accounting for 1% of the total supply;
Additionally, Dymension will allocate 12.5 million DYM to holders of Pudgy Penguins, Mad Lads, Tensorians, and Bad Kids. Among them:
- Pudgy Penguins: As of December 19, the holder limit is 20 tokens per address, with a total allocation of 5 million DYM;
- Mad Lads: Independent holders as of December 19 can receive 2.5 million DYM;
- Tensorians: Independent holders as of December 18 can receive 2.5 million DYM;
- Bad Kids: As of December 19, the holder limit is 20 tokens per address, with a total allocation of 2.5 million DYM.
- Furthermore, Dymension will launch a liquidity incentive program one week after the mainnet launch, allocating 2.5 million DYM for the Genesis airdrop to users who cross-chain to Dymension. The supported tokens include USDC, TIA, USDT, ATOM, ETH, and SOL.
It is worth noting that this airdrop is the first season Genesis Rolldrop airdrop from Dymension, and there will be other airdrop activities in the future.
Additionally, Dymension will launch a liquidity incentive program one week after the mainnet launch, allocating 2.5 million DYM for the Genesis airdrop to users who cross-chain to Dymension. The supported tokens include USDC, TIA, USDT, ATOM, ETH, and SOL.
It is worth noting that this airdrop is the first season Genesis Rolldrop airdrop from Dymension, and there will be other airdrop activities in the future.
