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Reported by The Defiant, Dymension, a Cosmos-based modular blockchain platform, has launched its mainnet and nature DYM token. Eligible claimants can now access their tokens by connecting their wallets to the network.
DYM is trading at around $5 at the time of writing, giving the project a fully diluted valuation of $5B. The team allocated 70M DYM - 7% of the supply - to the airdrop.
Dymension aims to be the operational hub for RollApp development in the Cosmos ecosystem by standardizing rollups with the Inter-Blockchain Communication Protocol.
RollApps are modular blockchains that operate specifically with the Dymension Hub, offering the business model of rollups but allowing for a more efficient and scalable user experience. Through Dymension, all these RollApps can access the security, liquidity, and connectivity benefits of the larger Dymension Hub, which makes multi-app usage more convenient.
The initial phase focuses on enhancing economic security by aggregating substantial liquidity and stake to support the first batch of roll-ups on the mainnet. This is aimed at ensuring a robust and stable foundation for the network.
As the Dymension blockchain acquires a sufficient amount of delegated stake and the network's validators are effectively operational, the platform will move forward with "The Draft," involving Dymension governance approving various prominent RollApps to transition from testnet to mainnet.
Once the roll-ups successfully transition from testnet to mainnet and demonstrate stability, the permissionless RollApps phase will begin, allowing more developers to participate in the ecosystem.
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