Coin Edition -
- DYM’s value soars over 92% post-mainnet launch, hitting an $8.31 high.
- Mainnet event boosts DYM’s market cap by 17.92% and trading volume by 63.89%.
- “Big Brain Staking” controls 35% of DYM, raising governance concerns.
Dymension is a blockchain platform that has celebrated its mainnet launch, with the cryptocurrency underlying it gaining traction after recording new highs. For the last two days, DYM has observed extraordinary growth in value of over 92%, recording an all-time high of $8.31. At press time, DYM was trading at $7.77, a 17.87% surge from the intra-day low.
DYM/USD 24-hour price chart (source: CoinStats)
During the rally, DYM’s market capitalization and 24-hour trading volume surged by 17.92% and 63.89%, respectively, to $1,138,271,808 and $634,552,820.
Mainnet Launch Fuels Investor Optimism
The Dymension mainnet launch has been a pivotal event, contributing to the sharp increase in DYM’s value. The platform, known for its modular settlement layer, facilitates the seamless deployment of “rollApps,” blending the functionalities of layer-2 blockchains and decentralized applications. This unique offering has caught the attention of investors and developers alike, drawn to the platform’s promise of simplicity and economic viability in crypto app rollouts.
$DYM Mainnet Set to Launch on February 6◢ Key Points to Keep in Mind:• Approximately 14.6% (146M) of the token in circulation: Allocated to Ecosystem and R&D (20%), Airdrop (8%)• Core team and investor holdings subject to a 1-year lock-up, followed by a 2-year linear… pic.twitter.com/X9n9uV8JI2— Vlad Stoica (@VladStoica23) February 4, 2024
Moreover, the integration of a DYM/USD price feed by the Pyth Network across over 50 chains has enhanced the token’s visibility and transparency. This development, coupled with the platform’s strategic airdrops, has played a crucial role in driving up the price and market positioning of DYM.
Addressing Initial Technical Challenges
Despite the positive momentum, Dymension’s journey has been challenging. The blockchain faced transaction processing issues and delays shortly after its launch, with some users experiencing difficulties adding the blockchain to their crypto wallets. Validators, crucial to the network’s functionality, encountered consensus challenges, further complicating the initial rollout.
Dymension blockchain has just Airdropped but I don’t like the health statistics. One validator (Big Brain Staking) has 30.88% of the “Voting Power” and there are only 100 out of 165 validators “Active”. Or does it pick just 100 to validate