Dymension is a network of easily deployable and lightning-fast modular blockchains called RollApps. Dymension launched their mainnet with a $300 million airdrop last February. Here in this guide, we will tackle more ways to earn from Dymension Network.
What is Dymension?
Dymension is similar to a full-stack web application where users interact with RollApps, and Dymension acts as the coordinator for the ecosystem. While RollApps acts in the front end, Dymension works through the data availability networks (database) in the back end and provides a place to publicize data.
Dymension provides infrastructure for RollApps. It almost acts like its own blockchain connecting to EVM (Ethereum Virtual Machine) and Cosmos. Dymension is popular among RollApp builders. Several RollApp projects are running on Dymension. There is a strong chance for all those projects to airdrop soon.
What are Dymension RollApps?
RollApps are interactive applications for the Dymension network. You can build games, DeFi, NFT projects, and much more!
Dymension RollApps works by mimicking standardized blockchains to provide a seamless user experience. RollApps can mint, charge gas fees for transactions, and distribute tokens according to custom configurations. RollApps are equipped with a decentralized, on-chain governance mechanism. This enables the distribution of control over certain on-chain parameters and funds owned by the RollApps.
They are equipped with gainful IBC (Inter-Blockchain Communication) bridging, which includes native currencies such as the USDC, USDT, and others. RollApps are in an evolution process and are potential assets to future crypto developers.
How to Participate?
You can participate Dymension reward system in several ways. You can look for airdrops, you can stake your DYM, and you can earn by participating in governance proposals.
Earn by Staking
The first way to earn DYM is by staking it. But, for that, you should get some DYM first. Let’s check in detail:
- Get Some DYM: Visit any of the exchanges selling DYM Tokens. You can get it from Binance. Here I will explain how to transfer some DYM from Binance to your wallet. Skip this step if you are already aware of it.
- Create a wallet. You can use MetaMask or Trust Wallet.
- Add Dymension Network to your wallet by copying the smart contract address.
- After adding DYM, click the Recieve DYM option.
- Copy your receiver address.
- Log into Binance and go to DYM in the spot trade.
- By some DYM with your USDT.
- Go to your assets in Binance and click DYM.
- Press the send option and paste your receiver address.
- Make sure that you are transferring through the same chain.
- After some minutes, DYM will be added to your wallet.
- Stake the DYM: Now you have DYM in your wallet, and you can stake it now. Please note that it will take 21 days to unstake your DYM Tokens. Here is the step-by-step guide:
- Visit the official webpage of Dymension.
- Then scroll down, and go to the Dymension Staking Page.
- Connect your wallet
- Now, you have signed up on Dymension platform.
- Fill in your details.
- Click the “Validators” option, and you’ll see a list of validators.
- Select a validator to start staking.
- Staking rewards will reach your wallet after 21 days
You can select any of the validators. But I recommend using Enigma, PRYZM, or Kahuna. Also note that, if you stake too little DYM, there is a strong chance that you won’t be able to get the airdrop.
Earn by Participating in the Airdrop
- Visit Dymension’s website and click on the airdrop option. If the airdrop option is unavailable, that means the campaign has ended. But, don’t worry, they have many airdrops every Quarter. Just bookmark the site and check daily.
- If there is a clickable airdrop option, then it will lead you to a page to connect your wallet.
- Connect your wallet. (Preferably Metamask or you can use any popular wallets like OKX, Rabby, Coinbase, or Trust Wallet)
- After connecting the wallet, you have to check your eligibility.
- Click “Check”, and if you are eligible, the “Claim” option will pop up.
- That’s it. After clicking “Claim”, be ready to receive DYM Tokens.
- Now you have to check your eligibility. For that, copy your connected wallet’s address paste it into the space provided, and click “check address allocation.”
- Then you’ll get a pop-up that shows how many COOKIE Tokens are available for you to claim. Mostly you will get an allocation of 999 Tokens.
- Tick the terms and conditions, then click the “claim” option to continue.
- That’s it! You will now instantly get 199 COOKIE Tokens in your wallet, and after completing the further tasks you can claim the whole allocation.
Earn by Governance Proposals
GoThe Dymension ecosystem provides governance proposals to interested users. You can earn a significant amount of DYM by participating in governance proposals. Now five of them are active. If you are not getting space in them, follow Dymension’s Twitter, Discord, and Telegram for more governance proposal announcements.
DYM Token Use-Cases
DYM is the native token of Dymension. It is used for all purposes throughout the ecosystem. DYM is listed on every CEX (Centralized Exchange). It is one of the popular coins on Binance.
Dymension Token Allocation
| Ticker | $DYM |
| Total Supply | 1.026 Billion |
| Allocated for Onchain Governance | 381.6M DYM (37.19%) |
| Allocated for Vesting | 457.23M DYM (44.56%) |
| Currently Circulating | 187.35M DYM (18.26%) |
Is it Trustable?
Dymensions is a prestigious project and it is 100% trustable. The project is backed by some top-notch organizations. It isn’t a scam at all.
Conclusion
If you are looking for a stable way to earn and participate in crypto, then Dymension is the right choice for you. Dymension secures RollApps for users and provides a bridge for easy deposit, play, and withdrawal. The user experience is highly commendable. Dymension also has a decentralized exchange to trade your favorite RollApp tokens. All the best for your travel through Dymension.
Read more: How To Claim Zircuit Airdrop, Eligibility& Launch Date.
