Dymension (DYM)
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About DYM
Dymension is a Layer 1 blockchain designed to power modular blockchains known as RollApps. By offering a scalable and interoperable framework, Dymension enables developers to build application-specific blockchains that inherit security and liquidity from the main network while maintaining their own execution environments. This unique architecture allows for optimized performance, reduced congestion, and enhanced customization for decentralized applications (dApps). Dymension leverages the Inter-Blockchain Communication (IBC) protocol to enable seamless interaction between RollApps and external blockchain networks. This ensures interoperability across different ecosystems, allowing RollApps to communicate with established chains like Ethereum, Cosmos, and others. The platform is built with efficiency in mind, reducing transaction costs and increasing speed, making it an attractive solution for developers seeking to launch scalable blockchain applications. The ecosystem is powered by the DYM token, which serves as the primary utility asset for staking, governance, and transaction fees. Users can stake DYM to participate in securing the network while earning rewards. Additionally, token holders can engage in on-chain governance by voting on proposals that shape the future of the Dymension ecosystem. Dymension simplifies the process of deploying new blockchain networks by offering a plug-and-play environment for launching RollApps. These modular chains provide projects with greater flexibility, enabling developers to design chains that suit specific use cases, such as gaming, DeFi, and NFT platforms. RollApps can customize their consensus mechanisms, execution environments, and governance structures while leveraging Dymension's shared security model. By bridging the gap between modular blockchain infrastructure and interoperability, Dymension positions itself as a key player in the evolution of Web3. Its focus on scalability, security, and user-friendly deployment tools makes it a robust solution for developers looking to build the next generation of decentralized applications.
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Frequently Asked Questions about Dymension
What is Dymension?
Dymension is a blockchain platform that enables the creation and management of modular blockchains called RollApps. These application-specific chains benefit from Dymension's security and interoperability features, allowing for scalable and efficient decentralized applications.
Is Dymension (DYM) an L1?
Yes, Dymension is a Layer 1 blockchain that offers security, interoperability, and scalability for application-specific chains called RollApps.
What is the DYM token?
Dymension (DYM) is the native utility token of the Dymension ecosystem. It serves multiple purposes, including governance participation, staking to secure the network, and facilitating transactions within the platform.
Where can I buy Dymension tokens?
DYM tokens are available for purchase on various cryptocurrency exchanges, including Binance, Gate.io, Bitget, Bybit, and LBank.
Where can I store Dymension tokens?
DYM tokens can be stored in Cosmos wallets like Keplr and Leap, and in Gem Wallet. It can be added to MetaMask using a third-party RPC gateway.
How to add Dymension to MetaMask?
You can add Dymension to MetaMask using a third-party RPC gateway. Open MetaMask, go to 'Add Network,' and input the following details. Network name: Dymension; New RPC URL: https://dymension-evm-rpc.publicnode.com; ChainID: 1100; Symbol: DYM.
How to stake Dymension?
You can stake DYM tokens by delegating them to a validator on the Dymension staking platform. Stakers earn rewards while helping secure the network. Visit the official staking dashboard to get started.
How can I participate in Dymension's governance?
Holders of DYM tokens can participate in the platform's governance by staking their tokens and voting on proposals that influence the development and direction of the Dymension ecosystem.
How to swap Dymension?
DYM and RollApp coins can be swapped with ETH, WBTC, and other tokens right on Dymension's platform. Connect a supported wallet, select a trading pair, and execute the swap.
What are RollApps in Dymension?
RollApps are modular, application-specific blockchains built on top of the Dymension platform. They leverage Dymension's infrastructure for security and interoperability, allowing developers to deploy customized blockchain applications efficiently.
How does Dymension ensure interoperability?
Dymension utilizes the Inter-Blockchain Communication (IBC) protocol to facilitate seamless interaction between RollApps and other blockchain networks. This ensures that different chains can communicate and transact with each other effectively.
What is the total supply of DYM tokens?
The total supply of DYM tokens is capped at 1 billion. As of now, approximately 25% of this supply is in circulation, with the remaining tokens subject to various vesting schedules and allocations.
Is Dymension compatible with other blockchains?
Yes, Dymension is designed to be compatible with other blockchains through the use of the IBC protocol. This allows for interoperability and seamless communication between Dymension's RollApps and external blockchain networks.
Is Dymension a good investment?
Dymension's focus on modular blockchain solutions and interoperability positions it uniquely in the blockchain space. However, as with any investment, potential investors should conduct thorough research and consider market volatility before investing.