- Make Crypto Simple
- Posts
- The Dymension Airdrop
Make Crypto Simple
Crypto News and Concepts Made Simple - Straight to your inbox, every Monday.
Is there such a thing as a free lunch?
You’ve been told no - even if its free to you, someone paid for it! In the world of cryptocurrency, however, there's a concept that comes pretty close to a free lunch, and it's called an airdrop.
Imagine waking up to find free digital tokens in your wallet - a reward, a promotional boost from a blockchain project, or a token of appreciation from a new crypto venture.
These are not mythical occurrences, but real events. They’re often worth thousands of dollars and can be sold, if you wish, for cold, hard, cash.
“What? Free money? Why would anyone give me free money?”
Airdrops serve a dual purpose: they reward existing users and attract new ones, creating a win-win scenario for the community and the project behind it. It’s like a marketing expense to the blockchain project. They give tokens to individuals that meet certain predetermined qualifications.
These qualifications often involve holding a certain coin or NFT during a certain time frame. They can also be those that used an application before a certain date. The project takes a picture of the blockchain called a “snapshot” that allows the project to see which people (wallets) met the qualifications.
“So all I have to do is hit these “qualifications” and i’ll get free crypto?”
YES! The catch, however, is each airdrop has different qualifications, and these qualifications are usually unknown until after the snapshot.
Don’t worry - we’re going to show you an example using the highly successful “Dymension Airdrop.”
Let’s go.
🌐 What Is Dymension? 🌐
Dymension is a cutting-edge blockchain project that enhances how blockchain applications work, offering a platform for various apps like games and finance. It's built on advanced technology that allows for more efficient data handling and seamless interaction between different blockchain networks.
With its special focus on user-friendly applications, Dymension aims to make blockchain technology more accessible and useful for everyone.
Want more details?
Dymension was built on Cosmos SDK and uses Celestia Data Availability, aiming for scalability and interoperability at a low cost.
Key Features:
RollApps: Front-end platforms for a variety of applications (gaming, DeFi, NFTs).
Dymension Hub: Acts as a back-end server, managing network activities and ensuring ecosystem functionality.
Development Kit: Based on Cosmos SDK, it simplifies RollApp creation with essential tools and modules.
Interoperability: Facilitates seamless cross-chain interactions within the Cosmos ecosystem through IBC protocol.
In short?
Dymension is the Shopify of Web3.
🌍 The Dymension “Rolldrop” 🌍
Here are some excerpts from the full announcement that you can read here.
“Genesis Rolldrop represents the start of Rolldrop seasons that will incentivize ecosystem users and builders. A significant allocation of 70,000,000 DYM (equivalent to 7% of the total supply) will be distributed as part of the Genesis Rolldrop.”
The Technology
Celestia
Celestia has played an instrumental role in the birth of the modular ecosystem. Users who staked* TIA in Celestia as of December 19, 2023, at block height 360,000, qualify for 20,000,000 DYM (2% of the total supply). Eligibility for this allocation requires a minimum stake of 1 TIA and a cap of 5,000 TIA will be counted towards allocation.
Ethereum L2s
Arbitrum and Optimism have been key players in advancing rollup technology. To encourage their users, as well as those of Base and Blast, to explore Dymension an allocation of 10,000,000 DYM (1% of the total supply) is provided. This allocation serves as both a gesture of appreciation and an invitation to experience a standardized and natively integrated rollup platform, with one bridge and no multi-sigs. Eligibility for this allocation is based on user activity on rollups, funds in multi-sig bridge contracts, and previous airdrop lists.
Cosmos
Cosmos is a pioneer in the app-chain thesis and many important contributions to Dymension come from the Cosmos ecosystem. The following addresses are eligible to receive a part of the 17,500,000 DYM (1.75% of the total supply) allocated to the Cosmos from the genesis supply:
Solana
Modular meets integrated with this allocation.
Solana’s success in building a dedicated community and exceptional user experience has shaped the product vision and future trajectory of Dymension. Accordingly, we’ve compiled a list of over 180,000 addresses from various protocols, including Wormhole, Tensor, and Drip.Haus, for the distribution of 10,000,000 DYM (1% of the total supply). To be eligible for this allocation, addresses must have held a minimum balance of 1 SOL as of December 19th.
The Culture
Crypto is fundamentally about people. We recognize the foundational role of culture in the crypto space and acknowledge some of the most remarkable communities.
We welcome these communities to join Dymension and are allocating a total of 12,500,000 DYM (1.25% of the total supply) on genesis to the following NFT collections:
The Opportunity
Dymension airdropped 7% of the total supply of DYM - or 70 million tokens.
At the time of writing, DYM is trading at around ~$7 per coin.
This means that Dymension gave away 490 million USD. Yes. That is true. You read it right. I know it sounds fake - but this is real.
I know dozens of people that made a killing from this airdrop. I may or may not have been rewarded myself.
Here’s the crazy part - you didn’t even need that much money to start with.
Look back at the Celestia qualifications.
All you had to do was stake 1 TIA. At the time, this would have cost you no more than $20, including all fees (and remember, the TIA you stake is still yours).
This led to a minimum allocation of 200 DYM tokens. Remember the price? Currently, DYM is $7.
If you had staked $20 worth of crypto, you would have been rewarded with a minumum of $1400 USD worth of crypto.
This would equate to a 7000% rate of return.
Have you ever made a 7000% rate of return?
You need to be in crypto to get these types of opportunities. Will they all work out like DYM? No.
For example, the “Altlayer” airdrop, a drop from a different project built using Celestia DA, had a minimum TIA stake of 35 TIA, or around $700 worth.
The reward for this was 241 ALT coins. ALT is trading at ~$0.35. This nets you around $85 in free ALT tokens - or around a 12.4% rate of return.
It’s no 7000% - but still not bad!
Your Takeaway
Airdrop hunting can be extremely lucrative, and if you get lucky, can quite literally make you rich overnight.
Airdrops are the perfect way to help newcomers build an initial portfolio without having to allocate a large amount of capital in the beginning.
Don’t fade airdrop season. Want to get started? Email me back and I’ll teach you how, for free.
🚨 Action Items 🚨
Bitcoin is a hedge against government manipulation of currency.
I guarantee that many of you reading this have all of your assets in the current system. You need to get some money outside. Hedge your bets.
If you’re at all concerned about inflation and government control of currency, you need to:
Dont hesitate any longer. Money is changing… and you do not want to be late.
Reply to this email with a question about crypto! I read and answer every single message.
Thank you for reading Make Crypto Simple.
Sincerely,
Chris Schawel
The content provided in this newsletter is for entertainment purposes only and should not be construed as financial advice. All information, including but not limited to market analysis, price predictions, and investment strategies, is purely speculative in nature. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. We are not responsible for any losses incurred as a result of the information presented in this newsletter.