Dymension, a network built to deploy app chains called RollApps, recently completed its highly anticipated airdrop as its mainnet went live. The airdrop distributed over $390 million worth of DYM tokens to early users and select communities. Following the launch, the value of DYM tokens surged, with a 58% increase in price to $5.60. The airdrop included 700 million DYM tokens, representing 7% of the total supply.
Dymension’s network is built using Cosmos technology and the inter-blockchain communication protocol (IBC) to connect with various other chains. Developers can choose from different virtual machines and tokens on their RollApps.
The “genesis rolldrop” airdrop was available to over a million unique wallets across various chains and communities, including Solana, Celestia, and Ethereum scaling networks such as Arbitrum, Optimism, Base, and Blast. Certain communities, such as Pudgy Penguins NFT holders on Ethereum, as well as Mad Lads and Tensorians on Solana, were also eligible for the airdrop.
While over a million wallets could have claimed a share of the airdropped tokens, the claim process already took place in January, and only 528,523 wallets ultimately made a claim. This means that around half of eligible users did not participate, resulting in the redistribution of those tokens to other users.
DYM is now the second-largest token airdrop of 2024 based on the total value of the dropped tokens. The largest airdrop of this year was carried out by Jupiter, a decentralized exchange (DEX) aggregator on Solana, which airdropped 1 billion JUP tokens with a total value of $527 million.