Dolomite introduces margin protocol and DEX, bringing enhanced margin capabilities to the DeFi space

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“Innovating and implementing advanced features for a truly decentralized exchange is extremely difficult,” said Alon Goren, founding partner of Draper Goren Holm. “The Dolomite team is one of the most experienced, talented and knowledgeable teams we have met in space.”

British Virgin Islands (PRWEB)
October 13, 2022

Dolomite today announced the launch of its new Margin Protocol and DEX after more than a year of rigorous development. Featuring higher capital efficiency and broader wealth support than existing competitors, Dolomite’s new protocol aims to attract valuable integrations and experienced traders with its advanced features and unique offerings.

Dolomite was founded in early 2018 before “DeFi” even existed as a term. At that time, the Dolomite team was one of the first to build in the DEX space and the first to build on the Loopring protocol. In the years that followed, Dolomite saw moderate success with its first platform and used its expertise and backend infrastructure to collaborate with several other teams in the space and help launch several other projects. Since 2021, the team has been using the experience they’ve gained working in this space and their love of trading to develop a next-generation margin protocol, which they believe is truly being rolled out today. The team, now backed by blockchain venture studio Draper Goren Holm, believes the future of the protocol looks bright.

“Innovating and implementing advanced features for a truly decentralized exchange is extremely difficult,” said Alon Goren, founding partner of Draper Goren Holm. “The Dolomite team is one of the most experienced, talented and knowledgeable teams we have met in space.”

Dolomite’s new protocol has several unique features that they believe will benefit crypto holders and traders. The capital efficiency of the protocol’s architecture allows users to make money in multiple ways at the same time. Assets deposited into Dolomite will earn margin loan interest by default, but the same assets can be deposited into a Dolomite liquidity pool to concurrently earn margin loan interest and liquidity pool fees. Additionally, these assets in the liquidity pool can eventually be used as collateral for yield farming, allowing users to simultaneously earn from three sources they otherwise would have had to choose between.

Those interested in trading will benefit from the Dolomite Protocol’s support for a wide range of securities. For traders, this means they can trade any listed asset against any other listed asset on the platform. This allows traders to not only open more common margin trades, such as B. long ETH against USDC, but also margin trades in popular assets that are not normally available for margin trading, such as: This can even extend to more exotic assets, from interest-bearing tokens to tokenized real-world assets. While Dolomite will launch with a more limited list of assets, many new assets are already in the works.

Those interested in hedging also benefit from Dolomite’s broad asset support. By utilizing Dolomite’s borrowing facilities, users can access otherwise illiquid assets such as: B. Lending against liquid staking LP tokens as well as interest-bearing tokens. Users will also be able to collateralize any loan position with up to 32 different assets, giving users significant flexibility. The Dolomite team believes that these improved borrowing and hedging capabilities will not only benefit users of the platform, but will also attract many valuable integrations. The team created the protocol with composability in mind, so other projects could easily interact, connect, and build on Dolomite.

“We wanted to create a strong foundation for building a maximally decentralized and immutable protocol. Using The Graph for all data indexing, Chainlink price feeds, and hosting on Arbitrum One seemed like the only logical way to achieve this vision,” said co-founder Corey Caplan.

The Dolomite team aims to build a strong and stable technical infrastructure that will stand the test of time. The Dolomite protocol uses Chainlink’s industry-leading and battle-tested price feeds as the backbone of its margin lending capabilities to ensure the protocol’s integrity even in volatile market conditions. In order to provide the advanced features of the protocol with the fastest speed and the lowest gas fees, the team introduced Dolomite on the Ethereum Layer 2 Arbitrum, which the team believes offers the best experience for users and the highest level of security in the Layer 2 landscape offers .

The team has set itself the goal of constant growth and strong technological development. In the coming weeks, the team will be announcing and releasing new features and integrations, and expects many more to come.

“We see this as just the beginning of a long journey,” explained co-founder Adam Knuckey, “we have so many exciting features and integrations on the way that we look forward to sharing them with the DeFi space.”

The Dolomite Margin DEX is currently available for users to trade and earn on desktop and mobile. You can learn more about Dolomite and get started on their platform on their website at https://dolomite.io. If you want to delve deeper into the technology of Dolomite, you can find the documentation of Dolomite at https://docs.dolomite.io. Those interested in speaking to the team and becoming part of the community can join the discussion on Dolomite’s social media channels on Twitter and Discord.

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