Moving away from the typical monolithic chains, such as Bitcoin and Ethereum, the concept of modularity emerged. It separates the various functions of a blockchain into specialized platforms.
With each specialized layer executing a specific function, blockchains are no longer limited by their architecture and could go beyond what was originally possible.
What is Dymension?
Dymension is a delegated Proof-of-Stake (PoS) L1 chain that secures modular blockchains within its system, known as RollApps.
RollApps are blockchains built on top of Dymension, using their development kit – the RollApp Development Kit (RDK).
We can use a familiar analogy and compare RollApps as the front-end of an application we may use, while Dymension is the server on which it runs, connecting it to other apps and supporting various backend functions.
The development kit they use is quite similar to the one used on the Cosmos chain for rapid deployment of additional chains.
Dymension went live in early February last year, launching their native token DYM.
The total supply is set at 1 billion tokens, the market cap is just above the $70M mark, and the current circulating supply is at just below 320 million, as per the most recent data from CoinGecko.
Details On The Airdrop & Upgrade
The first airdrop they did, on Genesis day, distributed over $400 million in tokens to early adopters of the blockchain.
Participation in this airdrop will be organized in “waves”, with the first opportunity for registration reserved for long-time community members who have been staking the DYM token for a prolonged period.
The development team has stated that only a rudimentary version of the protocol was released on Genesis day; therefore, users can now expect numerous improvements with the upcoming Beyond upgrade.
“Season 2 is designed to reintroduce the Dymension protocol and accelerate its growth as it evolves into a Universal Settlement Layer.”
Perhaps the core focus of the upcoming upgrade will be the possibility of building rollups on top of existing L1 chains and ecosystems, without requiring modifications to the underlying core protocols.
The network’s block time will also be reduced, from approximately 5 seconds to 1, which brings it in line with major players such as Solana.
