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Dymension (DYM)

Dymension (DYM) is leading advancements in Web3 technology by introducing a network of fast, adaptable blockchains known as RollApps. These RollApps are crafted for easy deployment, simplifying the creation of various blockchain applications. 

At the core of Dymension’s innovation is its RollApp Development Kit (RDK), similar to the Cosmos SDK for RollApps, equipping developers with a comprehensive set of tools to accelerate the development of these applications.

The DYM token plays a central role within the Dymension ecosystem as its native cryptocurrency. It serves multiple functions, including securing the network, enabling governance, and fostering interoperability between blockchain networks. Its design is focused on encouraging engagement from various stakeholders, ensuring network security, and fostering long-term sustainability.

What is Dymension (DYM)?

Dymension operates as a layer 1 blockchain, utilizing the Cosmos SDK toolkit and linked to the Cosmos ecosystem via the IBC bridge. Its structure is modular, enabling individual upgrades and maintenance across its system components.

Dymension recently initiated a share airdrop program, offering up to 1,000,000 DYM tokens in total, with plans for diverse campaigns aimed at attracting investors in the future.

Founders & Team

The Dymension team, under the leadership of co-founder and CEO Yishay Harel, has secured $6.7 million in funding for their adaptable blockchain project. This financial support, primarily achieved through a private token round, involved notable investors such as Big Brain Holdings, Stratos, Matchbox DAO, and Shalom Mackenzie of DraftKings.

The funding, obtained through a simple agreement for future tokens (SAFT), is crucial for advancing Dymension's development and expansion. With a current team of nine members, they aim for further expansion and intend to raise approximately $20 million before launching their mainnet.

Key Features of Dymension

• Blockchain Technology: Dymension employs blockchain technology with a Proof-of-Stake consensus mechanism from the SDK, integrating centralized network and consensus layers via Tendermint software for user and developer ease.

• RollApp: Developed on RollApp, Dymension utilizes Dymension RDK to customize Rollup Chain, operated through Sequencer, requiring users to stake DYM tokens for order execution.

• Dymension Hub: Leveraging the Tendermint Core state replication model, Dymension Hub confirms transactions and enhances network connectivity with an aggregate service optimization feature, acting as an interaction hub between RollApps.

• Modular Structure: Utilizing a modular approach, Dymension offers flexibility in execution environments (such as EVMOS EVM, Polaris EVM, CosmWasm) and cost-effective data storage options.

• Optimistic Rollup: Dymension adopts Optimistic Rollup technology and Fraud Proof for transaction verification.

• DYM Token: The DYM token serves for fee payments and platform governance through voting, while AMM provides liquidity for token trading.

• Asset Transfer via IBC Bridge: Dymension facilitates asset transfer between RollApps and layer 1 through the IBC Bridge, ensuring safety and security via verification by Dymension Hub.

How Dymension Operates

With RollApps maintaining an average processing time of 0.2 seconds and a maximum TPS of around 20,000 transactions, Dymension's operational process unfolds as follows:

• Users execute trading orders on RollApp.

• The sequencer verifies transactions and includes them in a block.

• The block, containing transactions as Call Data, is sent to Dymension Hub, along with transaction proofs to the DA layer.

• After receiving the path to stored evidence from the DA layer, the Sequencer confirms the current RollApp state, sending state root information and evidence path to Dymension Hub.

Latest Developments

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Future Developments

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