What is Dymension? Introduction to DYM token

1. What is Dymension?

Dymension is a layer 1 blockchain, constructed using the Cosmos SDK toolkit, and intricately connected to the Cosmos ecosystem via the IBC bridge. This platform boasts a modular blockchain structure, providing the flexibility for upgrades and maintenance across its various components.

On February 9, the project celebrated a successful private round of capital raising, securing an impressive 6.7 million USD from notable investors such as Big Brain Holdings, Stratos Technologies, MatchboxDAO, and Shalom Meckenzie...

Recently, Dymension launched a share airdrop program, featuring a substantial prize pool of up to 1,000,000 DYM tokens. The platform has outlined numerous unique campaigns as part of its ongoing efforts to attract investors in the future.

2. Dymension structure

RollApp:

RollApp, developed by Dymension, is an appchain built upon the Dymension RDK (RollApp Development Kit). Inspired by the Cosmos SDK, the Dymension RDK has been finely tuned to suit a Rollup Chain.

Dymension RDK enables the deployment of smart contract frameworks, including EVMOS EVM, Polaris EVM, and CosmWasm, within the RollApp ecosystem. Positioned as part of the Inter Blockchain Communication (IBC) ecosystem, RollApp exhibits the capability to interact with all IBC-supported chains, utilizing the Dymension Hub. RollApp distinguishes itself by delegating consensus to the Dymension Hub instead of the Cosmos Hub, setting it apart from other appchains within the Cosmos network.

Dymension Hub:

Dymension Hub is a blockchain utilizing the Delegated Proof-of-Stake consensus mechanism, serving as the authentication, security, and liquidity center for RollApps within the Dymension ecosystem. Additionally, Dymension Hub functions as the settlement layer and centralized data source for the entire Dymension network.

The native token of the network, DYM, is employed for network fees and is facilitated through an Automated Market Maker (AMM) embedded in the Dymension Hub. This AMM serves to generate liquidity, allowing users to swap tokens or bridge assets across different chains. The integration of AMM by RollApps becomes seamless, providing liquidity and facilitating transactions within a specific appchain.

IBC Bridge:

Dymension seamlessly incorporates an Inter Blockchain Communication (IBC) Bridge, enabling users to swiftly convert assets (tokens) directly between blockchains or RollApps on the Dymension platform.

Liquidity:

Dymension's Liquidity page encompasses the following features:

Swap: The Automated Market Maker (AMM) enables users to engage in token transactions.
Pools: Aggregates liquidity pools, allowing users to contribute liquidity to existing pools or create new ones.
Assets: Consolidates information pertaining to tokens within the system, including token prices, price fluctuations over the last 7 days, and liquidity.

3. Outstanding features of Dymension

Easily RollApp Deployment: Developers can effortlessly implement RollApps on Dymension using the Dymension RDK toolkit. This enables developers to tailor RollApps to their preferences by adjusting parameters such as tokens and smart contracts.

High-Performance Network: By employing the consensus mechanism of Dymension Hub, RollApps exhibit a remarkable capacity to deliver elevated throughput with reduced latency in comparison to alternative blockchains. This translates to superior performance for RollApps, accommodating substantial transaction volumes across the Dymension network.

Flexible Transaction Fee Options: Beyond utilizing the native token DYM for transaction fees, users possess the flexibility to use any token supported by Dymension. This flexibility enhances user convenience and choice when engaging in transactions within the Dymension network.

4. How does Dymension work?

Dymension operates with RollApps capable of maintaining an average processing time of 0.2 seconds and achieving a maximum Transaction Per Second (TPS) of around 20,000 transactions. The platform functions through the following steps:

User Trading Orders: Users initiate trading orders on the RollApp.
Transaction Verification: Transactions are verified by the Sequencer and automatically included in a block.
Block Submission: The Sequencer forwards the block containing the transaction as Call Data to the Dymension Hub. Simultaneously, it sends the transaction proof to the DA layer.
Proof Confirmation: Upon receiving the path to the stored evidence from the DA layer, the Sequencer verifies the current state of the RollApp. It then sends the state root information and the evidence path to the Dymension Hub.

5. Team

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6. Investors & Partners

Dymension has successfully raised over 6.7 million USD in its Seed funding round, garnering participation from investment funds including Big Brain Holdings, Stratos Technologies, Matchbox DAO, and others.

7. Tokenomics

7.1. DYM token overview

DYM serves as the native token of the Dymension blockchain, playing a crucial role in enhancing security, fostering growth, and ensuring the sustainability of RollApps within the ecosystem.

7.2. Key metrics

Token name: Dymension.
Ticker: DYM.
Blockchain: Updating…
Contract: Updating...
Token type: Updating...
Total Supply: 1,000,000,000 DYM.
Circulating Supply: Updating...

7.3. DYM token allocation

Incentive Manager: 33%
Core Contributing Team: 20%
Ecosystem & R&D: 20%
Backers: 14%
Public allocation: 8%
Community Pool: 5%

7.4. DYM Token Release Schedule

8. How to store and trade DYM tokens?

8.1. E-wallet

Investors can securely store DYM tokens in various wallets such as Metamask, Keplr Wallet, Trust Wallet, and Leap Wallet. For added convenience in trading, investors also have the option to store DYM on the wallets provided by exchanges listing this token.

8.2. Exchanges

Investors have the opportunity to engage in DYM token trading on:

Centralized Exchanges (CEX): Binance, Bybit, KuCoin,...
Decentralized Exchanges (DEX): DODO (Polygon) and Jupiter.

9. Roadmap

Updating

10. Channel

Website: https://dymension.xyz/
Twitter: https://twitter.com/dymension

11. Conclusion

In conclusion, Dymension and its native token, DYM, stand at the forefront of a dynamic blockchain ecosystem. With a focus on security, growth, and sustainability, DYM plays a pivotal role in the functionality of the Dymension platform. As investors explore trading opportunities on various exchanges and securely store their tokens in different wallets, the Dymension ecosystem continues to evolve, offering a promising landscape for the future of decentralized technologies.