On February 6, Dymension announced the launch of its mainnet. The community has also received the second batch of DYM rewards one after another. Due to the wide scope of Demensions airdrop, users who pledge 1 TIA, participate in Blast staking, and hold Pudgy Penguins can all receive airdrop rewards. This even rain and dew airdrop has brought a lot of benefits to its community.
Before the launch of the Dymension mainnet, Binance had announced that it would list Dymension (DYM). Although some in the community speculated that the price of DYM would be between US$3 and US$5, DYM once exceeded US$6.62 after being listed on Binance, and the price at the time of writing was 6.48. Dollar.
After experiencing the unexpected surprise airdrop, the community turned to focus on how to get more benefits on DYM. Currently, the number of active addresses on the Dymension mainnet has exceeded 530,000, and the staking APR of DYM is 39%. In addition to staking benefits, you may also receive airdrop rewards from projects that have partnerships with Dymension in the future. BlockBeats introduces in this article how to stake DYM through MetaMask and Keplr wallets and the potential staking airdrop benefits.
Staking DYM Tutorial
The pledged DYM tokens will be locked for 21 days. If you want to sell DYM tokens, you need to cancel the pledge and wait for 3 weeks. Currently, DYM can be pledged through MetaMask, Keplr, and Leap wallets, and users can choose the appropriate wallet according to their needs.
Among them, the staking operation based on MetaMask needs to be performed on the Dymension main network after linking the wallet; the Keplr wallet plug-in side provides a link to jump to the dashboard. Users can pledge on the web page provided by Keplr, and can easily view it on the Keplr plug-in side. Token holdings and pledge status; the Leap wallet plug-in provides a pledge function, and users can pledge without jumping.
Using MetaMask wallet
Enter the staking interface https://portal.dymension.xyz/dymension/staking, and after linking to the MetaMask wallet, the interface will display the amount of DYM held and the staking status.
Swipe down the interface, select the verification node, and click Stake to enter the interface. Since the ranking of verification nodes will change, it is recommended to participate in the staking of several more nodes and avoid verification nodes with particularly low rankings to increase the probability of entering the future airdrop list. In the pop-up interface, enter the amount of DYM to be pledged, and click Stake again to stake.
After the signature is passed, go back to the top of the page and view the pledge status in My Delegation.
Use Keplr wallet
Since Binance does not support Keplrs wallet format, you need to transfer DYM from MetaMask to the Keplr wallet. Click Deposit in the Keplr wallet, find the address of the Dymension network in the pop-up interface, and select the address starting with 0x to copy. Send DYM from MetaMask to the copied address on Keplr.
The advantage of the Keplr wallet is that users can view the pledge status directly on the wallet interface. The Keplr wallet plug-in provides an entrance to Keplr Dashbord. EnterDashboard interfaceFinally, slide down until the buy, sell and stake buttons appear, and click Stake.
Select Dymension on the pop-up page, then select the verification node you want to join, and click Stake.
Finally, confirm again, enter the amount of DYM to be pledged (note that some DYM needs to be left as gas fee), and click Stake to complete the pledge. When you return to the browser plug-in interface of the Keplr wallet, you can more easily and clearly understand your holdings and pledges.
Using Leap Wallet
Enter the Leap wallet browser extension interface and click on the upper right corner to switch the network to DYmension.
Click Stake below to switch to the pledge interface. This interface can display the pledge status of DYM. Click +Stake to pledge, select the verification node in the pop-up interface, and submit after confirmation to complete the pledge.
Potential airdrop opportunities
At present, no project has explicitly stated that it will include DYM stakers in its airdrop plan, but there is a precedent of TIA, and potential airdrop opportunities can be guessed from two directions, namely, Dymension’s unissued currency partners and those deployed in Dymension for testing RollApps online.
Wormhole
Cross-chain infrastructure Wormhole announced token economics the day after the launch of the Dymension mainnet. The initial circulating supply of governance token W is 1.8 billion, with 17% allocated by the community.
Wormhole previously completed US$225 million in financing at a valuation of US$2.5 billion in 2023. This round of financing was participated by Brevan Howard, Coinbase Ventures, Multicoin Capital, ParaFi, Dilectic, Borderless Capital, Arrington Capital, and Jump Trading. The community has therefore paid great attention to Wormholes airdrop incentives.
However, the snapshot of the Wormhole airdrop was completed before the announcement. Given that Wormhole announced its cooperation with Dymension on February 1, perhaps users who staked DYM before the announcement may have a chance to receive the airdrop.
Avail
Avail was founded by Anurag Arjun, the former co-founder of Polygon. In February 2023, Polygon spun off its modular blockchain project Avail into an independent entity Avail. Similar to Celestias positioning, Avail is a modular blockchain that allows developers to build customizable and scalable applications.
In November 2023, Avail opened the Clash of Nodes incentivized test network, where users can earn points by completing tasks. One of the tasks is to deploy Dymension RollApps using Avail as DA, so the community speculates that staking DYM may also receive Avails future token airdrop rewards.
ValiDAO
ValiDAO is an infrastructure project dedicated to providing running validators, RPC, IBC relays, DA nodes and other services for blockchain networks. On February 7, ValiDAO announced that it would airdrop VDO to participants of its Dymension validator, and multiple snapshots will be taken during February to determine eligibility.
As of the time of writing, ValiDAO ranks 18th among Dymensions one hundred verification nodes, with a total of more than 2.58 million DYM pledged.
As of the time of writing, Dymensions market value has exceeded 760 million, and its FDV has exceeded 5 billion, which is a quarter of Celestias market value. However, considering that DYM has just been launched, such rapid development is indeed very eye-catching. It can be said that in the new round of bull market, the Ethereum killer narrative is still unfolding, but the protagonist has been changed to modularity. Whether DYM can get out of TIAs upward curve, and what impact the development of Dymension will have on Ethereum, BlockBeats will continue to pay attention.
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