As airdrops continue to roll out in 2024, DYM is one of the airdrops with the biggest potential for growth throughout the year.
DYM is the token used to secure the Dymension blockchain. You can think of Dymension as an internet service provider that makes it easy for people to access different RollApps.
RollApps are applications within the Dymension ecosystem that perform different tasks such as bridging between blockchains, executing token transfers, and voting on proposals for the DYM blockchain.
Even if you missed the DYM airdrop, learning how to stake DYM still has the potential to generate outsized returns in 2024. In this article, we’ll look at how to stake DYM, then we’ll go over the airdrops rumored for DYM stakers.
How To Stake DYM
Staking DYM works with Metamask and Keplr wallets. First, we’ll look at staking through Keplr.
Start by downloading Keplr and creating your wallet. You can check out this article about TIA airdrops for detailed instructions on installing Keplr.
Once you have Keplr installed, open your wallet, click “Manage Chain Visibility.”
On this page, search for DYM and click save.
Now, open Keplr again and click “Manage Portfolio in Keplr Dashboard.”
From the Dashboard page, click “Stake” in the left-hand side menu, then choose Dymension as your chain in the window that pops up.
In this window, you can choose which validator to stake with. Try and choose a validator with a commission of 5% or less. In the next section, we’ll look at which validators will likely do additional airdrops.
Next, after you’ve selected a validator, enter the amount you want to stake, click stake, and approve the transaction.
Finally, you’re done!
How To Stake DYM With MetaMask
By using Dymension’s official portal, you can stake DYM with MetaMask. You can also connect your Keplr wallet and stake with this method.
Start by going to the portal page, then connect your wallet.
With your wallet connected, scroll or search for a validator, then click stake next to their name.
After clicking stake, enter the amount of DYM you want to stake and approve the transactions.
Validators With Airdrops For DYM Stakers:
Staking DYM with the ValiDAO validator will get you eligible for the VDO airdrop. Follow VAliDAO on Twitter for more info on the upcoming drop.
Stakecito is one of the biggest Celestia validators, and they’ve also started a validator for DYM. Airdrops haven’t been confirmed for Stakecito, but the rumors point toward Stakecito doing an airdrop. If you’re spreading out your DYM across multiple validators, it’s worth including Stakectio.
Pryzm is an upcoming layer 1 blockchain using airdrops as part of their token generation strategy. The Pryzm team plans to airdrop 20% of their token supply to people who stake with their different validators across the Celestia ecosystem.
Check out this page to see which validators will get you eligible for the airdrop.
$AVAIL is an upcoming base layer project that aims to make it easy for anyone to launch a layer 1 blockchain. Rumors are flying that DYM stakers will likely receive AVAIL in an airdrop.
In addition to staking, you can try completing the AVAIL test net tasks to increase your potential airdrop allocation. You’ll need a GitHub account with at least 20 GitPoints:
- Create an account
- Use the Explorer
- Get tokens from the faucet
- Set identity
- Transfer tokens multiple times
- Stake testnet tokens
More detailed testnet instructions here: https://docs.availproject.org/docs/end-user-guide/accounts