- Dolomite’s TGE comes after its airdrop was executed successfully and it rose to the top of the Berachain money market rankings.
- At 9:00 AM EST, the $DOLO token will be listed on the decentralized exchanges Kodiak and Uniswap, as well as the main centralized exchanges.
Dolomite, a decentralized money market system, is preparing to kick off its Token Generation Event (TGE) with the introduction of its token, $DOLO. At 9:00 AM EST, the $DOLO token will be listed on the decentralized exchanges Kodiak and Uniswap, as well as the main centralized exchanges Bybit, Binance Alpha, Bitget, KuCoin, and Kraken.
Through a variety of integrations across the DeFi ecosystem, Dolomite enables users to deploy assets efficiently and unlock dormant wealth through more smarter lending and borrowing. The sophisticated architecture of the protocol allows for several borrow positions, each with a unique risk profile, from a single wallet. A wide variety of yield-bearing assets may be utilized as collateral thanks to this innovative design, which enables customers to profit while taking out loans against these assets.
Dolomite’s TGE comes after its airdrop was executed successfully and it rose to the top of the Berachain money market rankings. Additionally, Dolomite is the tenth-largest money market in DeFi, ranking seventh in terms of fees earned.
Recipients will now have six months to collect their tokens after Dolomite’s airdrop, which gave out 20% of the entire DOLO supply to reward Dolomite users and Minerals Program participants. Half of the tokens will be available as veDOLO, a locked version of the token with protocol and governance advantages, while the other half will be made accessible as liquid DOLO.
As dolomite continues to establish itself as a safe, effective, and cutting-edge financial tool, its place in the DeFi ecosystem has expanded. Over 1,000 assets may be utilized as collateral using the protocol’s unique lending solutions, which allow sophisticated borrowing strategies and have handled over $928 million in trading volume.
Adam Knuckey, Co-founder and COO of Dolomite stated:
“We’re excited to launch our token as we enter the next phase of Dolomite’s growth. With our expansion on Berachain and growing adoption across DeFi, this TGE is just the beginning of a broader vision to expand secure and accessible decentralized lending and capital efficiency.”
In order to promote long-term sustainability and user adoption, Dolomite will keep introducing new features, strengthening liquidity incentives, and improving integration across the DeFi ecosystem beyond the TGE. Smart Debt is a new feature that allows traders to use the debt or collateral of users who have chosen to use it. For instance, users who give USDT may have it swapped to USDC, enabling stablecoin traders to use their collateral as a liquidity pool. A more dynamic and effective trading environment is produced when traders are able to take on debt in exchange for the asset they want and pay it back with the asset they already own.
Through more smarter lending and borrowing, dolomite enables users to unlock dormant capital. Strong integrations across the DeFi ecosystem allow for more smarter asset deployment. Dolomite’s sophisticated architecture allows for several borrow positions, each with a unique risk profile, to be supported from a single wallet. Because of its distinctive architecture, a wide variety of yield-bearing assets may be pledged as collateral, enabling users to profit while taking out loans secured by these assets.
In order to enable other protocols, yield aggregators, DAOs, market makers, hedge funds, and others to manage their portfolios and implement on-chain strategies, Dolomite eventually hopes to develop into a hub for DeFi activity.
