On February 6th, Dymension announced the launch of its mainnet. The community has also received the second batch of DYM rewards. Due to the wide range of Demension's airdrop, users who stake 1TIA, participate in Blast staking, hold Pudgy Penguins, and others can receive airdrop rewards. This "all-inclusive" airdrop has brought considerable profits to its community.

Before the launch of the Dymension mainnet, Binance announced that it would list Dymension (DYM). Although some in the community speculated that the price of DYM would be between 3-5 US dollars, DYM surpassed 6.62 US dollars after being listed on Binance and was priced at 6.48 US dollars at the time of writing.

After experiencing the surprising airdrop beyond expectations, the community turned their attention to how to earn more profits on DYM. Currently, the active address number of Dymension mainnet has exceeded 530,000, and the staking APR of DYM is 39%. In addition to staking rewards, there may also be airdrop rewards from projects that have a cooperative relationship with Dymension in the future. BlockBeats introduces how to stake DYM through MetaMask and Keplr wallets and the potential staking airdrop rewards.

Pledge 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. Users can choose the appropriate wallet according to their needs.

The staking operation based on MetaMask needs to be carried out on the Dymension mainnet after linking the wallet; the Keplr wallet plugin provides a link to the dashboard, where users can stake on the web page provided by Keplr and conveniently view the token holdings and staking status on the Keplr plugin; the Leap wallet plugin provides staking function, and users can stake without jumping to other pages.

Using the MetaMask wallet.

Enter the staking page at https://portal.dymension.xyz/dymension/staking. After linking your MetaMask wallet, the interface will display the amount of DYM you currently hold and your staking status.

Scroll down the interface, select the verification node, and click "Stake" to enter the interface. As the ranking of verification nodes may change, it is recommended to participate in the pledge of several nodes and avoid verification nodes with particularly low rankings to increase the probability of entering the future airdrop list. Enter the amount of DYM to be pledged in the pop-up interface, and click "Stake" again to pledge.

After the signature is approved, you can return to the top of the page to view the staking status in My Delegation.

Using Keplr Wallet

Due to Binance not supporting Keplr's wallet format, it is necessary to transfer DYM from MetaMask to Keplr wallet. Click "Deposit" in the Keplr wallet, find the address of the Dymension network in the pop-up interface, and copy the address starting with 0x. Send DYM from MetaMask to the copied address on Keplr.

The advantage of Keplr wallet is that users can directly view their staking status on the wallet interface. The Keplr wallet plugin provides an entry to the Keplr Dashboard, and after entering the dashboard interface, scroll down until you see the buy, sell, and stake buttons, then click Stake.

Choose Dymension in the pop-up page, then select the validation node to be added and click Stake.

Finally, confirm again and enter the amount of DYM to be pledged (note that some DYM needs to be left as gas fee), click Stake to complete the pledge. When returning to the browser plugin interface of Keplr wallet, it is convenient to understand one's holdings and pledge situation.

Using Leap Wallet

Enter the Leap wallet browser extension interface and click on the upper right corner to switch the network to DYmension.

Click on the Stake button below to switch to the staking interface. This interface displays the staking status of DYM. Click on +Stake to initiate staking, select a validation node in the pop-up interface, and confirm to complete the staking process.

Potential Airdrop Opportunities

Currently, there are no projects that have explicitly stated that they will include DYM stakers in their airdrop plans, but there is a precedent with TIA. There are two potential airdrop opportunities that can be speculated upon, namely Dymension's unreleased coin partners and RollApps that were previously deployed on the Dymension testnet.

Wormhole

After the launch of the Dymension mainnet, cross-chain infrastructure Wormhole announced its token economics on the second day, with an initial circulating supply of 1.8 billion governance token W, of which 17% is allocated to the community.

Wormhole completed a $225 million financing round in 2023 with a valuation of $2.5 billion. The round was led by Brevan Howard, Coinbase Ventures, Multicoin Capital, ParaFi, Dilectic, Borderless Capital, Arrington Capital, and Jump Trading. The community has paid close attention to Wormhole's airdrop incentives as a result.

However, the snapshot for the Wormhole airdrop had already been completed before the announcement was made. Considering that Wormhole had announced a partnership with Dymension on February 1st, users who had staked DYM before the announcement may have a chance to receive the airdrop.

Avail

Avail was created by Anurag Arjun, former co-founder of Polygon. In February 2023, Polygon spun off its modular blockchain project Avail into an independent entity. Similar to Celestia, Avail is a modular blockchain that allows developers to build customizable and scalable applications.

Related reading: "Understanding the "DA Competition" that will determine Ethereum's future: Celestia, EigenDA, and Avail - who will be the ultimate winner?"

In November 2023, Avail launched the Clash of Nodes incentive testnet, where users can earn points by completing tasks. One of the tasks is to "deploy Dymension RollApps using Avail as the DA," leading the community to speculate that staking DYM may also result in future airdrop rewards of Avail's tokens.

ValiDAO

ValiDAO is an infrastructure project that specializes in providing validator, RPC, IBC relay, DA node and other services for blockchain networks. On February 7th, ValiDAO announced that it will airdrop VDO to participants of its Dymension validator and will take multiple snapshots during February to determine eligibility.

As of the time of writing, ValiDAO ranks 18th out of 100 validation nodes on Dymension, with a total staked amount of over 2.58 million DYM.

At the time of writing, Dymension's market value has exceeded 760 million, and FDV has exceeded 5 billion, which is a quarter of Celestia's market value. However, considering that DYM has just gone online, such rapid development is indeed very impressive. It can be said that in the new round of bull market, the narrative of "Ethereum killer" is still playing out, but the protagonist has shifted to modularity. Whether DYM can break out of TIA's upward curve and what kind of impact Dymension's development will have on Ethereum, BlockBeats will continue to follow.

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