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Link dumps are websites that let you dump your URL and sometimes a little commenting. The URL shows up somewhere on their site immediately or after the moderator approves it. Long lists of URLs are generated and displayed on the link dump sit.
As I understand it (I am new at using them), link dumps are for two purposes.
The first and most important is to generate backlinks for the SE spiders, boosting your search engine revelancy and therefore bosting your SERP. The second is that it's worth a few hits. Some link dumps have niches and act a little bit like toplists as far as I can tell.
Of course, alot of good webmasters say that overuse of link dumps that have been identified by the search engines as link farms can hurt your SERP more than it's worth.
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