Dymension’s modular future: RollApps and new airdrops coming soon

One month after its launch, it’s possible to take stock of Dymension, the brand-new layer 1 of Cosmos that allows any project to launch its protocol quickly and easily. The airdrop of its governance token, DYM, has been one of the most talked-about topics in recent weeks, and for those who believed in the project by staking, pleasant surprises are on the way. In this article, we will briefly discover what Dymension is and how it operates. To conclude, I will introduce three protocols coming to the chain that will distribute their tokens to DYM stakers.

Dymension

Dymension is a layer 1 blockchain implemented on the Cosmos ecosystem, secured by the Delegated Proof of Stake (DPoS) consensus mechanism. It’s interoperable, thanks to the Inter-Blockchain Communication (IBC) protocol, and has sufficient liquidity to fuel the ecosystem, guaranteed by an internal decentralized Automated Market Maker (AMM) exchange.

With these fundamentals, Dymension positions itself as a server and framework for developers who, through its infrastructure, can create decentralized applications called RollApps. These are seamlessly integrated into the Cosmos ecosystem and compatible with the Ethereum Virtual Machine (EVM). Users, on their part, will have the option to easily and securely access these dApps through one of the supported wallets.

Potentially, Dymension could attract a multitude of developers looking for an easy-to-use network to develop their projects.

RollApps

The real innovation introduced by Dymension is the RollApps, standardized blockchains that, thanks to predefined modules, incorporate features simplifying the lives of developers:

• Architecture: RollApps can be created using a series of virtual machines that interact with the central network, Dymension.
• Token: RollApps can mint new tokens and distribute them based on custom parameters.
• Bridge: Applications can leverage the IBC bridge to integrate all currencies present in the Cosmos ecosystem.
• Governance: All RollApps are configured with an on-chain governance mechanism that allows users to control the development address and protocol funds.

In essence, RollApps present themselves as simplified semi-independent blockchains, with security and liquidity access provided by the parent network, Dymension.

DYM

The network’s token, DYM, plays a fundamental role in the ecosystem as it ensures security through the DPoS consensus and enables functionality. To interact with RollApps and the network in general, users will need this token to pay gas fees. Also, to participate in Dymension’s governance votes, as in other PoS networks, having DYM in staking is necessary.

Staking can be done on the dedicated portal with EVM wallets like MetaMask or directly on Keplr through the Keplr wallet. Through these portals, users can express their votes on active governance proposals.

The maximum supply of DYM is set at 1 billion, with a gradual and proportional issuance over the years based on DYM staked on the network. This mechanism, called Algorithmic Issuance, regulates issuance as follows:

• If the percentage of DYM staked is below 67% (the reference target), the issuance rate will increase to reach a maximum annual rate of 10% or until the staking target is reached.
• If the staking percentage is equal to the 67% target, DYM emissions remain unchanged.
• If the staking percentage exceeds 67%, the issuance rate decreases to reach a minimum annual rate of 1% or until the staking target is reached.

To balance the demand and supply of DYM, mechanisms of burning and supply blocking are introduced:

• Burning: When a token exchange or asset transfer occurs between Dymension and RollApps, the proceeds from the fees related to these operations are converted into DYM and burned.
• RollApp Bonds: RollApps must stake DYM to propose network state updates. This process, besides enhancing network security, reduces the circulating supply of DYM.

These two mechanisms contribute to balancing the demand and supply of DYM and regulating its inflation rate.

Upcoming Projects

Numerous RollApps are coming to Dymension, and some have already expressed their intention to distribute their tokens to DYM stakers. Let’s briefly explore three of them:

• NIM: Is a gaming application developed with Celestia DA technology and based on EVM. $NIM will be the native token of the RollApp and will be used to pay transaction fees, for staking, and liquidity. In $NIM’s tokenomics, there is talk of a Genesis Rolldrop equal to 9% of the total supply, which presumably will also be distributed to DYM stakers.
• Aigisos: A project sponsored by Microsoft, focusing on network security and node verification, introducing a reinforced consensus algorithm called RSBFT (Robust and Secure Byzantine Fault Tolerant algorithm). Aigisos is implementing an ecosystem of 3–5 dApps on Dymension at launch. As the ecosystem gains traction, more applications will be released. The Aigisos team promises to distribute five airdrops to DYM stakers. In addition to $AIG, the RollApp governance token, tokens from released dApps will also be distributed.
• Dogmond: Let’s conclude with the first Rollup memecoin, $DGM. It’s a project entirely community-driven and developed by the Chihuahua team, another sovereign blockchain in the Cosmos ecosystem. DGM will be the main currency to pay transaction fees on the network (alongside HUAHUA), and 40% of its total supply will be distributed to DYM stakers.

https://x.com/ChihuahuaChain/status/1767169911963406809?s=20

While awaiting the announcement of new RollApps (and their respective airdrops), DYM stakers can enjoy the benefits of staking. If the future of the blockchain is modular, Dymension and its supporters will likely be part of it.

Disclaimer：

1. This article is reprinted from [Block Magnates], All copyrights belong to the original author [Francesco Di Nardo]. If there are objections to this reprint, please contact the Gate Learn team, and they will handle it promptly.
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