Question 1

What is Dymension (DYM)?

Accepted Answer

Dymension is a layer-1 blockchain built on the Cosmos ecosystem, designed to power and interconnect modular blockchains known as RollApps. RollApps are application-specific chains that leverage Dymension's infrastructure to simplify the creation and deployment of decentralised apps without requiring developers to manage the complexities of blockchain infrastructure. The platform provides a modular framework for developers to create their own blockchains quickly, abstracting the technical difficulties of setting up validators or consensus mechanisms.

Dymension’s technology focuses on scaling networks by enabling interoperability between different RollApps through Cosmos' Inter-Blockchain Communication (IBC) protocol. This allows seamless data and asset transfer between different chains, increasing liquidity and connectivity in the broader blockchain ecosystem.

Question 2

What is Dymension (DYM) used for?

Accepted Answer

Dymension’s native token, DYM, is primarily used for governance, staking, and securing the network. RollApps deployed on Dymension must bond DYM tokens, which incentivises stakers to secure these app-specific chains. Validators and stakers are rewarded with fees for providing this security, and they also play a role in governance by voting on protocol upgrades.

Additionally, DYM tokens are essential for operating RollApps, as they must be staked to ensure efficient transaction processing. The platform’s decentralised settlement layer facilitates the scaling of application chains, while users and developers alike are incentivised through transaction fees and potential airdrops.

Question 3

Who created Dymension (DYM)?

Accepted Answer

Dymension was founded in 2022 by Yishay Harel, who also serves as the CEO. Harel has a background in the cryptocurrency space, having worked on projects like Celestia and Cosmos, which laid the groundwork for Dimension.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	DYM-USDT DYMUSDT	binance	AA	0.01484USDT	-3.64%	15,392,732.60DYM	5,631	0.01540USDT	0.01542USDT
2	DYM-TRY DYMTRY	binance	AA	0.7398TRY	-3.55%	13,409,679.50DYM	1,421	0.7670TRY	0.7700TRY
3	DYM-USDT DYM_USDT	whitebit	BB	0.01481USDT	-3.83%	11,185,199.20DYM	7,898	0.01540USDT	0.01546USDT
4	DYM-USDT DYMUSDT	bybit	A	0.01480USDT	-4.33%	1,822,891.78DYM	1,151	0.01547USDT	0.01547USDT
5	DYM-USDT DYM_USDT	gateio	A	0.01490USDT	-3.93%	1,479,465.00DYM	290	0.01551USDT	0.01551USDT
6	DYM-USD DYMUSD	kraken	AA	0.01475USD	-4.03%	391,681.00DYM	199	0.01537USD	0.01537USD
7	DYM-USDC DYMUSDC	binance	AA	0.01474USDC	-5.03%	122,764.70DYM	28	0.01552USDC	0.01552USDC
8	DYM-USDT DYMUSDT	cexio	BB	0.01478USDT	-3.56%	96,441.54DYM	8	0.01533USDT	0.01539USDT
9	DYM-EUR DYMEUR	kraken	AA	0.01325EUR	-4.47%	80,272.09DYM	8	0.01387EUR	0.01387EUR
10	DYM-USDT DYM-USDT	kucoin	BB	0.01480USDT	-4.52%	51,550.00DYM	14	0.01550USDT	0.01550USDT
11	DYM-USD DYMUSD	cexio	BB	0.01478USD	-4.67%	1,331.54DYM	1	0.01551USD	0.01551USD
12	DYM-USD DYM_USD	cryptodotcom	AA	0.01471USD	-7.02%	316.00DYM	1	0.01582USD	0.01582USD
13	DYM-USDT dym_usdt	lbank	C	0.01485USDT	-3.57%	47,076,883.20DYM	82,988	0.01540USDT	0.01543USDT
14	DYM-USDT DYMUSDT	bitrue	D	0.01500USDT	-3.23%	12,119,208.70DYM	36,226	0.01550USDT	0.01560USDT
15	DYM-USDT DYMUSDT	mexc	C	0.01483USDT	-3.64%	3,812,325.82DYM	2,837	0.01539USDT	0.01543USDT
16	DYM-USDT dym_usdt	xtpub	-	0.01480USDT	-3.90%	3,384,795.50DYM	1,381	0.01540USDT	0.01540USDT
17	DYM-USDT DYM_USDT	bydfi	-	0.01484USDT	-3.57%	876,373.88DYM	2,560	0.01539USDT	0.01542USDT
18	DYM-EUR DYM-EUR	bitvavo	B	0.01319EUR	-4.29%	768,166.68DYM	42	0.01378EUR	0.01378EUR
19	DYM-EUR DYMEUR	bit2me	B	0.01325EUR	-4.47%	80,272.09DYM	8	0.01387EUR	0.01387EUR
20	DYM-USDT dymusdt	huobipro	C	0.01470USDT	-4.55%	25,474.43DYM	10	0.01540USDT	0.01540USDT
21	DYM-INR DYMINR	coindcx	-	1.51INR	-2.92%	22,792.60DYM	20	1.56INR	1.56INR
22	DYM-USDT DYMUSDT	hitbtc	E	0.01479USDT	0.00%	0DYM	0	0.01479USDT	0.01479USDT