We are thrilled to share that (DYM) is now listed on Coinhako!
What are Dymension and DYM?
Dymension is a decentralized blockchain platform that enables fast, scalable RollApps using the Delegated Proof-of-Stake (DPoS) consensus mechanism. It addresses blockchain scaling issues by offering an efficient framework for diverse applications. Dymension aims to improve blockchain scaling by providing a robust and efficient framework for developers to build diverse blockchain applications.
DYM is the native token of Dymension and is used for transactions, staking, governance, and cross-chain transfers.
There is a total supply of 1,027,919,237 DYM and DYM has traded for US $$8.66 at its peak.
How does Dymension work?
Dymension (DYM) is a Layer 1 blockchain providing enterprise-grade oracle solutions. It uses Delegated Proof-of-Stake, where nodes delegate tokens to secure the network and earn rewards. The network facilitates data exchanges between RollApps, which are customizable blockchain applications for specific use cases.
Key features of Dymension include:
RollApp Development Kit (RDK): Toolset for efficient RollApp development and deployment.
RollApp Virtual Machine (RVM): Enhances RollApp security and deployment.
Automated Market Maker (AMM): Connects traders, reduces slippage, ensures privacy, and rewards users for services.
Dymension Hub: Settlement layer for Layer 2 RollApps, enabling secure communication and shared liquidity.
Tokenomics: DYM tokens used for governance, staking, and cross-network transactions. Supply adjusts algorithmically based on staking.
Why does Dymension stand out?
Sequential Network
Dymension is a permissionless network of RollApps. Through Dymension Hub, RollApps can easily connect with each other and the IBC-enabled ecosystem, creating two-row network effects.
Easy to Deploy
Developing a blockchain with Dymension eliminates the need to pre-install a network. Developers can easily deploy a decentralized, permissionless, and trust-minimized blockchain, similar to running isolated application instances.
Performance Difference
Unlike Ethereum-based dApps requiring gas fees in ETH, RollApp users pay transaction fees with the app's native token or any token chosen by RollApp, including stablecoins. They can also use IBC-enabled tokens or a new token for fee collection.
What can you do with DYM on Coinhako?
DYM will be available for users to trade across all swap pairs on Coinhako.
To gain access to any of these trading pairs, you can either:
- Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment method)
- Purchase DYM instantly with Visa / Mastercard
Please note that the sending and receiving of DYM will not be available for this release.
Risk Warning on Digital Payment Token Services
Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).
The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.
Before you pay your DPT service provider any money or DPT, you should be aware of the following.
- Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
- You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
- You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
- You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
Visit: Coinhako.com/risk-disclosure for more information.