Dolomite, a decentralized finance (DeFi) lending and borrowing protocol, is launching its token generation event (TGE), as per the reports shared with Finbold on Thursday, April 24.
DOLO, the platform’s native token, will be available 9:00 AM EST on major centralized exchanges (CEX), including Bybit, Binance Alpha, Bitget, KuCoin, and Kraken, as well as on decentralized exchanges (DEX) like Kodiak and Uniswap.
DOLO airdrop
A successful airdrop has already distributed 20% of the total DOLO supply to Dolomite users and Minerals Program participants.
The distributed supply is split 50:50 between liquid DOLO and a locked, governance-enabled version known as veDOLO.
Eligible recipients can claim their tokens within six months.
More efficient lending and borrowing
With its flexible architecture, Dolomite enables more efficient borrowing, lending, and asset deployment.
Further, it allows users to manage multiple borrowing positions within a single wallet, each positioned being customizable and secured by yield-generating collateral.
As such, the model ensures greater liquidity and lets users borrow while still earning on their holdings.
Increased DeFi efficiency
Dolomite occupies the leading position on Berachain and ranks as the 10th-largest money market protocol in the broader ecosystem, even reaching 7th place in terms of total fees generated.
So far, the protocol has processed more than $928 million in trading volume and boasts collateralization for over 1,000 digital assets.
Looking ahead, Dolomite plans to roll out a number of new features to enhance functionality and user experience.
A notable upcoming feature is the so-called “Smart Debt,” a system that lets users leverage the debt or collateral of users who opt-in to the functionality.
For example, users supplying Tether (USDT) may have it swapped for USD Coin (USDC), which would allow their funds to support active trading pairs.
Similarly, traders can take on debt in one asset while repaying in another to improve capital utilization.
