What is DYM Coin? Dymension future and project

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10 Mar 2024

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What is Dymension?

Dymension is a new technology in the world of cryptocurrency, a type of digital infrastructure that runs a unique version of the internet and provides a secure, interactive and liquid environment. The Dymension platform is designed specifically for custom applications called RollApps. These applications are usually small programs that are specialized to perform a specific function.

Dymension can be thought of as a kind of digital “land” where RollApps live and work safely. The platform acts as a kind of digital “bridge” that allows these applications to communicate seamlessly with each other and the overall crypto economy. This means that each app can not only run on its own, but also interact with other apps and services.

Dymension uses the platform's native cryptocurrency, DYM, to ensure the security of the platform. In this system, security is provided by people (called validators) who are tasked with protecting the platform and validating transactions. These people “stake” DYM tokens to ensure the proper functioning of the system, that is, they lock them as a kind of collateral.

One of the most notable features of the platform is that it has a built-in Automated Market Maker (AMM). This is a mechanism that allows RollApps to share liquidity (that is, the ability to easily buy and sell assets) among themselves and with the broader crypto economy. This feature helps make asset transfers and transactions between different applications more efficient.

Ultimately, Dymension is an innovative platform in the world of cryptocurrency and blockchain technology that enables applications to connect with each other and the overall economy in a more secure, interactive and liquid way. This platform helps make blockchain technology easier and more accessible for both beginners and experienced users.

What is DYM Coin?

DYM Coin is the native cryptocurrency of the Dymension ecosystem and plays a fundamental role in securing the platform.
DYM tokens are used to select and reward validators within the framework of the DPoS mechanism, ensuring the security and stability of the network.

What does DYM Coin do?

DYM Coin performs many functions in the Dymension ecosystem. Primarily, it is staked by validators as part of network security. It also serves as a tool for payment of transaction fees within the platform, use in governance votes, and intra-ecosystem trading through the built-in Automated Market Maker (AMM) that facilitates inter-RollApp liquidity and asset transfers.