Buy Dymension

Dymension is a layer 1 blockchain designed to address the scalability problem of blockchains. Traditional blockchains such as Ethereum and Bitcoin struggle to process large numbers of transactions quickly and efficiently, which can lead to high transaction fees and long processing times. Dymension offers a solution by using innovative technologies such as RollApps, Elastic Block Production (EBP) and a Delegated Proof-of-Stake (DPoS) mechanism.

Developers can create and launch RollApps on Dymension themselves. These are modular, application-specific blockchains that run on the Dymension network and are designed for specific tasks, without the disadvantages of an all-in-one blockchain. Each RollApp therefore operates as an independent blockchain within the Dymension network. The RollApp Development Kit (RDK) provides tools and modules to quickly and easily create RollApps, allowing developers to build custom solutions that fit their needs.

Dymension uses Elastic Block Production (EBP), which means that blocks are only produced when there are transactions. As a result, Dymension only uses resources when needed, leading to less network congestion and lower operational costs. The Delegated Proof-of-Stake (DPoS) mechanism provides a high degree of security and decentralization, with validators validating transactions and producing blocks. DYM token holders can delegate their tokens to a validator, eliminating the need to set up an operational validator themselves.

The DYM token is the native token of the Dymension ecosystem and is used for transaction fees, staking, governance, and cross-chain transactions. Token holders have voting rights within the network and can participate in decisions on future developments and network upgrades. DYM tokens can also be staked in liquidity pools within the Dymension Hub.

Who founded Dymension?

Dymension was founded by Yishay Harel and Barry Kuts. The project was launched in April 2022 with the goal of creating a platform where developers could easily develop and launch application-specific blockchains, called RollApps. In September 2022, Dymension published an updated roadmap for their testnet and mainnet launches. In the following months, various parts of the project were launched. On February 6, 2023, Dymension's mainnet launched, along with the introduction of the DYM token. During this launch, 70 million DYM tokens were distributed via the Genesis Rolldrop.

Dymension offers a versatile platform for various applications, ranging from financial services and gaming to social media and interoperable blockchain solutions. Below is an overview of the most important applications:

• Decentralized Finance (DeFi): RollApps can build specific DeFi applications, such as decentralized exchanges and lending platforms.
• Gaming: Developers can create RollApps for gaming applications, where fast and cheap transactions are essential.
• Social media: RollApps can support social media platforms, managing user data securely and in a decentralized manner.
• Interoperability: Users can use Dymension to transfer data and value between different blockchains.
• Governance: DYM token holders can participate in decision-making processes within the network through staking and voting.

Dymension is built around a modular design that separates different blockchain layers for maximum efficiency and scalability. Several components play a crucial role in the technical operation of Dymension.

RollApps

RollApps are application-specific blockchains running on the Dymension network and optimized for specific tasks. They use Elastic Block Production (EBP), where blocks are only produced when there are transactions. This reduces the load on the network and increases the efficiency of transaction processing.

RollApps are secured by the Dymension network via a Delegated Proof-of-Stake (DPoS) mechanism. Validators in the network provide security by validating transactions and producing blocks. DYM token holders can stake their tokens and thereby elect validators, creating a decentralized and secure network.

RollApp Development Kit (RDK)

The RollApp Development Kit (RDK) is a set of tools and modules specifically designed for building RollApps. It provides developers with pre-built modules such as banking, governance, and Inter-Blockchain Communication (IBC). This simplifies and accelerates the development and deployment of RollApps, allowing developers to focus on the specific functionalities of their applications.

Dymension Hub

The Dymension Hub acts as the central hub that connects different RollApps. It provides a shared settlement layer that is used by all RollApps on the platform. The Hub handles the processing and verification of transaction blocks submitted by RollApp Sequencers.

Sequencers are specialized nodes responsible for creating blocks of transactions and communicating with Dymension Hub validators to process blocks and reach consensus. Validators ensure the security of the network by validating transactions and producing blocks.

Interoperability and IBC

Interoperability is a key feature of Dymension. The platform uses the Inter-Blockchain Communication (IBC) protocol, allowing RollApps to transfer data and value between different blockchains. This promotes communication and interaction between different blockchains, leading to a more connected and interoperable Web3 ecosystem.

DYM is the native cryptocurrency of the Dymension ecosystem and plays a crucial role within the network. DYM tokens are used to pay transaction fees and for staking. Users can delegate their DYM tokens to validators who contribute to the security and transaction processing of the network. These validators receive rewards, which they distribute to users who have delegated their tokens.

Another important function of DYM is governance. DYM token holders have voting rights within the network, allowing them to participate in decisions about protocol changes, network upgrades or fees. In addition, DYM tokens are used in the liquidity pools within the Dymension Hub.

DYM has a maximum supply of 1 billion tokens. These tokens will be released over a five-year period, with multiple distribution rounds to support the growth and adoption of the network.

Staking DYM tokens is a relatively simple process. Start by purchasing DYM tokens on a platform like Bitvavo, then move the tokens to an external wallet that supports staking, such as Keplr or Cosmos Station. You must then navigate to the official staking platform and choose a trusted validator with a sound reputation within the network. This is the validator you will delegate your DYM tokens to.

After selecting a validator and delegating your tokens, you automatically start earning rewards. These rewards are distributed periodically and depend on the performance of the selected validator.

Dymension has several distinguishing features that make it a unique project:

• Application-specific blockchains: RollApps are modular, application-specific blockchains that offer optimal scalability. They can be optimized for specific tasks, making them outperform standard blockchains.
• Developer toolkit: The RollApp Development Kit (RDK) is a comprehensive toolkit that allows developers to quickly and easily create RollApps. This makes the development of blockchain solutions more accessible and rapid.
• On-demand Block Production: Elastic Block Production (EBP) produces blocks only when there are transactions. This reduces network load and costs, and is essential for optimal network scalability.
• Dymension hub: This central hub connects different RollApps together and provides shared execution layers, creating a coherent and interoperable network where RollApps can communicate and collaborate.
• Interoperability: Integration with the Inter-Blockchain Communication (IBC) protocol ensures flawless cross-chain communication. RollApps can thus securely transfer data and value between different blockchain networks.
• External data availability: RollApps can realize data availability via external providers such as Celestia. This way RollApps always have access to the data they need for their operation.

You can buy DYM (Dymension) using Bitvavo - a platform suitable for both beginners and experienced traders. Follow these steps to buy DYM tokens via our website or app:

1. Log in to your Bitvavo account or create a new account.
2. Add funds to your account by clicking "Deposit".
3. Go to the Dymension (DYM) purchase page.
4. Enter the amount in euros you wish to spend or the number of DYM tokens you want to buy, and click "Buy".

After your purchase, the DYM tokens are automatically and directly added to your Bitvavo account, where you can easily manage and trade them. Selling DYM tokens is just as easy, allowing you to quickly respond to market changes.

You can safely store your DYM tokens in your Bitvavo account. Bitvavo keeps the majority of assets in cold storage, which means they are kept offline for extra security. For extra protection of your account, we recommend enabling two-factor authentication (2FA).

Many software and hardware wallets support DYM. After purchase, you can easily transfer DYM tokens to an external wallet by linking the wallet address to your Bitvavo account. This gives you full control over your cryptocurrencies and guarantees safe storage of your cryptocurrencies.