Eligible users of Ethereum Layer 2s, Solana and Cosmos have until Jan. 21 to claim their DYM allocations.
Airdrops have been a hot topic for market participants over the last year, and after the recent success of Celestia, DeFi users are eagerly awaiting the next Cosmos ecosystem airdrop, Dymension.
Dymension has announced its upcoming token launch, which is currently in a “claim period” for eligible users. Eligibility for the airdrop is based on a variety of criteria centered around Ethereum Layer 2 usage, Solana DeFi, and Cosmos token staking.
Users can check their eligibility by visiting the website and claim their airdrop allocations with no wallet connection necessary up until Jan. 21.
What is Dymension?
Dymension aims to be the operational hub for RollApp development in the Cosmos ecosystem by standardizing rollups with the Inter-Blockchain Communication Protocol.
Application development through rollups and modular chains has grown increasingly popular due to their customizability on a per-app basis. However, when each of these apps is launched as a custom L2, the user experience for multi-application users becomes more fragmented and less secure as each rollup is responsible for its own backend.
RollApps are modular blockchains that operate specifically with the Dymension Hub, which offer the effective business model of rollups but allow 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.
DYM Airdrop
At an undisclosed date after the manual claiming period concludes on January 21st, 7% of the total $DYM supply will be airdropped to users who claimed their allocations.
Similar to Celestia’s TIA airdrop, any unclaimed DYM supply will be redistributed amongst the eligible wallets at the time of the airdrop, so any claimable amount of tokens during this window represents the minimum allocation per wallet.
While purely speculative, the Perpetual Futures market on Aevo currently has the DYM token trading at $4.5 at the time of writing, which correlates to a fully diluted valuation of over $4B.
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