Dymension’s anticipated airdrop took place on Tuesday as the network’s mainnet went live, serving up over $390 million worth of DYM tokens for early users and select communities as the token surged in value following the launch.
DYM is currently up 58% on the day to a current price of $5.60, according to data from CoinGecko, with some $246 million worth of trading volume already on exchanges including Binance, ByBit, and KuCoin. The airdrop spans 700 million DYM tokens, representing 7% of the total supply.
Dymension is a network built to let developers deploy app chains that it calls RollApps, and it’s a layer-1 blockchain built using Cosmos tech and the inter-blockchain communication protocol (IBC) to connect with various other chains. Builders can choose from various virtual machines and tokens on their RollApps.
The “genesis rolldrop,” as Dymension called it, was available to more than a million unique wallets across various chains and communities, including users on the networks Solana, Celestia, and Ethereum scaling networks such as Arbitrum, Optimism, Base, and the upcoming Blast.
JUP Up Over 70% as Solana Holds Steady for Jupiter Airdrop
The long-awaited Jupiter token airdrop kicked off Wednesday morning, as the Solana-based decentralized exchange (DEX) aggregator launched its JUP token to nearly a million eligible wallets. And despite the immediate demand, the network is holding steady. According to data aggregation platform Birdeye, JUP opened at a price of about $0.42 and has since climbed above $0.72, marking an increase of over 70% in just over an hour. JUP currently has a market cap of around $1 billion based on the circul...
Certain communities could also take part in the airdrop, including holders of the popular Pudgy Penguins NFT collection on Ethereum, as well as Mad Lads and Tensorians on Solana.
While more than a million wallets could have claimed a share of the 700 million airdropped tokens, the claim already took place in January—and only 528,523 wallets ultimately made a claim, which means that around half of eligible users left money (or DYM) on the table. Those tokens were ultimately redistributed to other users.
Solana Went Down Again—It Likely Won't Be the Last Time
Solana just had another major outage—and that’s OK, the developers behind the network say. It’s likely going to happen again. That’s what happens when you’re building on the bleeding edge of tech, and at least one prominent builder on the network—Helius Labs co-founder and CEO Mert Mumtaz—says he’s prepared to take the heat that comes with it. “What we can't do is be afraid of progress for the sake of not being harassed on Twitter,” Mumtaz told Decrypt. Solana nearly made it a full year without...
DYM is currently the second-largest token airdrop of 2024 based on the total value of the dropped tokens. It follows decentralized exchange (DEX) aggregator Jupiter on Solana, which airdropped 1 billion JUP last week—which, at the current price, puts the total value of that drop at $527 million.
Edited by Ryan Ozawa.
