Dymension Price
(DYM)
USD($)
Dymension (DYM) Live Price Chart
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Dymension Live Price Data
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Dymension(DYM) Profile
Rank126
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Website
Documentation
Explorer
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Contract
Osmosis ibc/9A76...110
Audited By
https://solidity.finance/audits/VoltInuETH/--
Investors
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$1.5100
$1.7400
$8.6600
+4.85%
-5.51%
+1.89%
$331.61M
$212,901
214,285,622
1.02B
About DYM
How can I buy Dymension (DYM)?
What Is Dymension (DYM) Crypto?
Dymension (DYM) is an innovative blockchain network that introduces a new concept called RollApps, which are modular blockchains designed to enhance applications in various domains such as gaming, decentralized finance (DeFi), and non-fungible tokens (NFTs).
Dymension, a Cosmos SDK-based Proof-of-Stake blockchain, leverages the Tendermint Core for networking and consensus, offering key features like security, liquidity, interoperability, and scalability. Its core infrastructure, The Hub, facilitates seamless transactions between RollApps and potentially other Cosmos blockchains.
Dymension addresses scalability and security for decentralized applications (dApps) using a modular architecture, rollups, and Celestia’s light node technology. It also integrates the Inter-Blockchain Communication Protocol (IBC) to standardize and simplify the rollup landscape, enhancing usability and sustainability for crypto applications. Thus, Dymension is a significant Cosmos project focusing on scalability, security, and smooth operation of decentralized rollup applications.
It is a unique blockchain network featuring RollApps for a wide range of applications, including gaming and DeFi, powered by the Dymension Hub for efficient network management. The platform employs Data Availability Networks for improved data handling and offers a developer-friendly RollApp Development Kit.
The native token of the network, DYM, is intricately designed to synchronize the interests of the network's stakeholders—users, developers, and validators—thereby fostering a collective investment in the network's stability, expansion, and overall success.
Highlighting its commitment to community engagement, the Dymension "genesis rolldrop" successfully airdropped approximately 70 million DYM tokens, which is about 7% of its total supply, to over a million cryptocurrency enthusiasts across multiple blockchain ecosystems, including Ethereum, Solana, and Cosmos. This extensive distribution not only showcased the airdrop's popularity but also underscored the project's dedication to building a wide-reaching community.
The DYM token reached a market cap of over $1.1 billion shortly after its launch. The Dymension platform saw a significant surge, over 30% within 24 hours, following one of 2024's largest airdrops, emphasizing its focus on play-to-earn gaming and DeFi.
How Does Dymension Work?
Dymension, an innovative blockchain network, has been making significant strides in enhancing scalability, interoperability, and user experience within the blockchain space. Its unique framework utilizes RollApps, Dymension Hub, Data Availability Networks, and a RollApp Development Kit to revolutionize blockchain application development and deployment.
Key Components of Dymension Network
1. RollApps: Modular blockchains designed for specific applications such as gaming, DeFi, and NFTs. These allow for customized blockchain optimization, ensuring high performance and functionality while addressing the limitations of traditional blockchain environments.
2. Dymension Hub: Acts as the central point of the network, facilitating communication and interoperability between different RollApps. This enables seamless data and value sharing across the ecosystem, overcoming the isolated nature of many blockchain systems.
3. Data Availability Networks: Critical for the scalability and security of the network, these networks ensure data is stored and accessible in a decentralized manner, supporting the functionality of rollups and other layer 2 solutions.
4. RollApp Development Kit: Provides developers with the necessary tools and resources to build and deploy RollApps within the Dymension ecosystem, simplifying the development process.
Dymension's testnet rollups aim to channel data to Celestia and Avail, with plans to integrate Ethereum and additional Cosmos chains, promising secure bridging and unmatched interoperability. The platform's architecture supports a range of virtual machines, showcasing its flexibility and potential to reduce app deployment costs.
History of Dymension Network and DYM Coin
Yishay Harel, a co-founder and the CEO of Dymension, has been instrumental in steering the project through its foundational stages, including a significant seed funding round that raised $6.7 million in 2023. This early investment underscored the market's confidence in Dymension's vision for a modular blockchain ecosystem.
Dymension marked a significant milestone with its "Genesis Drop" event on January 21st, 2024, during which over 1 million addresses became eligible to claim DYM tokens, accounting for 7% of the total supply. This event was a precursor to the network's mainnet launch, signaling an early phase of operation but not the full functionality that the mainnet would offer.
The anticipation built around the Dymension network culminated in the mainnet launch on February 6th, 2024. This pivotal moment was quickly followed by listings on major cryptocurrency exchanges, including KuCoin, where DYM was made available for trading against several pairs, thereby enhancing its accessibility and liquidity for the broader crypto community.
What Is DYM Token Used for?
The Dymension (DYM) token serves multiple purposes within the Dymension ecosystem, reflecting its utility and importance in facilitating the network's operations and governance. The token is used for:
1. Pay Transaction Fees on Dymension: DYM tokens are essential for covering transaction fees within the Dymension network. This includes executing smart contracts, making transfers, and interacting with applications, facilitating a streamlined process for users and developers.
2. Dymension Staking and Network Security: By staking DYM tokens, participants contribute to the security and consensus mechanism of the network. This staking process not only helps secure the network but also rewards users, incentivizing them to support the network's integrity and efficiency.
3. Participate in Dymension’s Decentralized Governance: Holding DYM tokens grants users governance rights, allowing them to influence the development and strategic direction of the Dymension ecosystem. This participatory governance model ensures that the network evolves in response to its community's needs and preferences.
4. Incentivization and Rewards: The Dymension ecosystem uses DYM tokens to reward activities that contribute to the network's growth and security. This can include rewards for developers creating innovative applications on Dymension or users participating in network security measures.
5. Trade Dymension on KuCoin: Trade DYM coin on the KuCoin Spot Market against other cryptocurrencies to make the most of changing market conditions and volatility. Buy or sell $DYM or HODL if you believe in the future potential of the Dymension network. Ensure that you undertake trading decisions in the crypto market only after doing your own research (DYOR).
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Dymension (DYM) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $-0.1005 | -5.96% |
| 7 Days | $0.0254 | 1.63% |
| 30 Days | $-0.1834 | -10.37% |
| 3 Months | $0.2282 | 16.83% |
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Dymension Conversion Rate
FAQ
How much is 1 Dymension (DYM) worth?KuCoin provides real-time USD price updates for Dymension (DYM). Dymension price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time DYM to USD exchange rates.
Is Dymension (DYM) a Good Investment?
Here are some potential benefits of adding Dymension crypto to your portfolio:
1. Innovative Technology for Blockchain Scalability: Dymension's approach, leveraging RollApps and the Dymension Hub, introduces a scalable and interoperable blockchain solution. This modular concept is designed to optimize blockchain use cases, potentially offering greater efficiency and performance than traditional blockchain frameworks.
2. Focus on Scalability Solutions: Addressing scalability through Data Availability Networks and modular blockchain technology positions Dymension as a potential leader in solving one of the most pressing issues facing blockchain technology today.
3. Diverse Use Cases: The platform supports the development of RollApps across various sectors, including gaming, DeFi, and NFTs, suggesting a broad appeal that could lead to a vibrant ecosystem and enhance the DYM token price.
4. Early Adoption Opportunities: Those investing in Dymension at its early stages might see significant growth potential as the platform evolves, benefiting from network growth and token appreciation.
5. Governance Participation: Holding DYM tokens offers investors governance rights, allowing them to partake in decision-making and influence the platform's direction.
6. Staking Rewards: Dymension offers staking opportunities, providing a potential income stream for investors while contributing to network security.
7. Access to a Growing Ecosystem: As the Dymension ecosystem expands with more developers and applications, the demand for DYM tokens for transaction fees and services is likely to increase, potentially boosting the Dymension value.
What Is Dymension Price Prediction?
While the volatile nature of the crypto market makes it challenging to offer a reliable DYM price prediction, monitoring the following factors could help you better understand the price trends in Dymension cryptocurrency:
1. Level of Adoption and Usage: Dymension has seen a significant uptick in interest following its launch, with a focus on play-to-earn gaming and DeFi sectors. Its innovative approach, leveraging RollApps for deploying decentralized applications, has the potential to drive further adoption, supporting the Dymension price.
2. Future Developments in the Dymension Roadmap: Developments and updates to the Dymension platform, including enhancements to scalability, security, and functionality, can positively affect investor and user confidence, thereby influencing the DYM token price.
3. Partnerships and Collaborations: Strategic partnerships and collaborations with other projects, companies, and sectors can broaden the utility and acceptance of Dymension, driving up demand for DYM tokens and supporting the Dymension price.
4. Crypto Market Sentiment: General sentiment in the cryptocurrency market can also influence DYM's price. Positive sentiment, driven by bullish market trends or favorable news in the crypto space, can lead to an increase in the DYM to USD price, while negative sentiment can result in price declines.
5. Dymension Staking and Governance Participation: The mechanisms for staking DYM tokens and participating in the governance of the network can affect the token's supply and demand dynamics. High staking rewards may encourage holding the token, reducing its circulating supply and potentially increasing the DYM crypto price.
6. Level of Competition: The emergence of competing blockchain platforms offering similar or superior solutions can impact the perceived value and market position of Dymension, influencing the price of DYM tokens.
7. Economic Factors: Broader economic factors, including inflation rates, interest rates, and the performance of major fiat currencies, can also influence the investment attractiveness of cryptocurrencies like DYM.
8. DYM Liquidity: The liquidity of DYM tokens on exchanges affects price volatility. High liquidity tends to reduce volatility, while low liquidity can lead to more significant price swings in response to large trades.
9. Speculative Trading: As with many cryptocurrencies, speculative trading can lead to rapid price changes for DYM tokens. Traders' expectations about future price movements, often influenced by news, rumors, and market trends, can cause sudden increases or decreases in price.
How to Stake DYM on Dymension
Here’s how you can stake $DYM on Dymension:
1. Buy Dymension on KuCoin and transfer your tokens to a compatible crypto wallet.
2. Visit the Dymension Portal App and connect your wallet to its interface.
3. Click the Staking option under the Dymension tab at the top of the page.
4. Review the list of validators you can delegate your staked DYM tokens to based on their voting power and commission.
5. Select the validator to which you wish to delegate your tokens, and click Stake.
6. Enter the number of DYM tokens you want to stake, and approve the transaction from your wallet. Note that staking DYM will lock up your tokens for 21 days.
7. Sit back, earn rewards, and grow your crypto holdings by staking DYM on the Dymension network.
Who Are Dymension’s Investors?
Dymension successfully raised $6.7 million in a funding round, with investments from prominent entities like Big Brain Holdings and Stratos. Other contributors included Matchbox DAO and Shalom Meckenzie of DraftKings among others. This funding round underscores the confidence these investors have in Dymension's vision and execution, particularly in its innovative approach to blockchain scalability and interoperability through modular blockchains, known as RollApps.
Who Was Eligible for the Dymension Airdrop?
The Dymension airdrop allocated 70 million DYM tokens to various users in the Ethereum L2s, Cosmos, Celestia, Solana ecosystems, and certain NFT holders. Eligibility for claiming the airdrop included users who had staked specific tokens by December 19, 2023, and met other criteria based on their interaction with the blockchain networks mentioned. The claim period was open until January 21, 2024.
What is the all-time high price of Dymension (DYM)?
The all-time high price of Dymension (DYM) is $8.6600. The current price of DYM is down 0.82% from its all-time high.
What is the all-time low price of Dymension (DYM)?
The all-time low price of Dymension (DYM) is $0.9842. The current price of DYM is up 0.61% from its all-time low.
How much Dymension (DYM) is there in circulation?
As of 11 14, 2024, there is currently 214,285,622 DYM in circulation. DYM has a maximum supply of 1.02B.
What is the market cap of Dymension (DYM)?
The current market cap of DYM is $331.61M. It is calculated by multiplying the current supply of DYM by its real-time market price of $331.61M.
How do I store Dymension (DYM)?
You can securely store your Dymension in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your DYM include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
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2024-11-15 00:55:26 (UTC+8)
24h Volume4,892,314,556USDT