Modular settlement layer Dymension went to mainnet yesterday, distributing 70M DYM tokens worth $420M to bluechip NFT holders and participants in the Celestia, Ethereum, Solana, and Cosmos ecosystems in the process! What should you do with your free DYM?
Dymension’s launch was anything but perfect, with Chorus One’s bad validator controlling over one-third of DYM staked, preventing the chain from coming to consensus and causing chaos on Crypto Twitter during the early hours of mainnet.
So @dymension Mainnet is live, none of the validators can reach consensus because there is a bad validator in the set, Chorus One, with 34.8% of the staked tokens delegated to it. pic.twitter.com/CANQQExHjC
— Jake Lee ⛓️🐺 (@jake_xbt) February 6, 2024
Despite performance issues, DYM bulls were not dissuaded, sending the token pumping by 58% to above $6 off Dymension’s mainnet announcement!
While Dymension’s technical merits have helped in creating a strong investment case to support price, a substantial percentage of DYM demand is coming from airdrop hunters looking to stake the token for airdrop rewards from the projects that depend on Dymension for settlement.
For recipients of the DYM drop who want to continue to hold for further upside, staking a portion of your DYM is highly recommended to expose yourself to these future airdrop opportunities!
Alternatively, you can opt to sell your DYM, a process that can be exceedingly cumbersome for DYM recipients on MetaMask looking to cash out to exchanges that do not support DYM transfers.
The 15 Steps I Had To Take To Sell My $DYM Airdrop, a.k.a. "We Are Still So Early," a.k.a. "Devs Please Fix"
— yuga.eth 🛡 (@yugacohler) February 7, 2024
1. Visit Dymension Portal
2. Doesn't support Coinbase Wallet, so install Metamask
3. Add Dymension RPC information
4. Try to connect Metamask; get "Metamask not…