2024 First Hair! A quick look at the modular blockchain Dymension genesis airdrop distribution rules

Winter is leaving, spring is not far away, and Cosmos Ecology is blowing the horn of the first hair in 2024.

Written by: Peng SUN, Foresight News

Winter is leaving and spring is not far away.

On the first working day of 2024, the market was flooded with good news about Bitcoin spot ETFs. Since the morning, Bitcoin has exceeded 45,000 USDT, a new high since April 2022; ETH has also exceeded 2,400 USDT.

In the evening, Cosmos Ecosystem sounded the horn for the first hair of 2024. Modular blockchain network Dymension announced the launch of the Genesis Drop event and will airdrop 70 million DYM (accounting for 7% of the total supply) to Celestia, Ethereum, Cosmos and Solana ecological users.

It has long been a consensus in the industry that the Cosmos ecology will see many big profits in the next bull market. Accordingly, Foresight News will explain the details of the Dymension airdrop in detail to see if you are eligible to claim the DYM Season 1 Genesis Airdrop.

What is Dymension?

Dymension is a modular blockchain network using Cosmos and Celestia technologies designed to ensure RollApp security and interoperability using IBC standards.

Currently, Dymension has launched the incentivized test network Froopyland, allowing developers to deploy IBC RollApp without permission.

Previously in February 2023, Dymension completed a US$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

Currently, Dymension has not announced token economics, but it can be calculated that the total supply of DYM is 1 billion. In August this year, Dymension said that 1% (10 million) of the total genesis supply of its token DYM would be allocated to the Froopyland incentivized test network that will last for three months. 10% of the rewards are allocated to RollApps (1 million pieces), 10% of the rewards are allocated to users (1 million pieces), 40% of the rewards are allocated to verification nodes (4 million pieces), and 40% of the rewards are allocated to RollApp deployers (4 million pieces).

Who can get the airdrop?

Dymension issues airdrops to Celestia, Ethereum Layer 2, Cosmos, Solana and NFT holders, and users can complete the claim before 20:00 on January 21, 2024, Beijing time. in particular:

• Celestia: As of December 19 (block height 360,000), users who have pledged at least 1 TIA and up to 5,000 TIA in Celestia are eligible to be allocated 20 million DYM, accounting for 2% of the total supply;
• Ethereum Layer2: Dymension will provide 10 million DYM to Arbitrum, Optimism, Base, and Blast users, accounting for 1% of the total supply. Eligibility for distribution depends on user activity, assets in the multi-signature cross-chain bridge contract, and previous airdrops;
• Cosmos: Dymension will allocate 17.5 million DYM to Cosmos ecological users, accounting for 1.75% of the total supply; among them, users who have pledged at least 1 and up to 5,000 ATOM on Cosmos Hub as of December 19 will be allocated with Stride. 15 million DYM will be allocated to users who hold at least 1 and up to 5,000 stATOM; 2.5 million DYM will be allocated to users who hold at least 10 and up to 10,000 OSMO on Osmosis as of December 19;
• Solana: 10 million DYM will be allocated to more than 500,000 addresses on Wormhole, Tensor, Drip.Haus and other protocols, accounting for 1% of the total supply;

At the same time, Dymension will also allocate 12.5 million DYM to holders of Pudgy Penguins, Mad Lads, Tensorians, and Bad Kids. in:

• Pudgy Penguins: The holder limit as of December 19 is 20 tokens per address, with a total of 5 million DYM allocated;
• Mad Lads: 2.5 million DYM can be allocated to independent holders as of December 19;
• Tensorians: 2.5 million DYM can be allocated to independent holders as of December 18;
• Bad Kids: As of December 19, the holder limit is 20 tokens per address, with a total of 2.5 million DYM allocated.

In addition, Dymension will also launch a liquidity incentive plan one week after the launch of the mainnet, allocating 2.5 million DYM genesis airdrops to users who cross-chain to Dymension. The tokens supported by this plan include USDC, TIA, USDT, ATOM, ETH, SOL.

It is worth noting that this airdrop is Dymension’s first season genesis Rolldrop airdrop, and there will be other airdrops in the future.