British, Virgin Islands, January 6th, 2025,
Chainwire
Dolomite, a decentralized money market protocol,
announced the details of its airdrop. Dolomite has taken a snapshot
of user activity in the leadup to its airdrop, which will reward
Dolomite users and Minerals Program participants with DOLO and
veDOLO tokens. The token will be launching on the highly
anticipated Berachain, which is already
seeing commitments of over $900 million in pre-deposit vaults, a
significant portion of which will be allocated to
Dolomite.
Dolomite’s TGE will occur shortly after Berachain mainnet is
expected to go live by the end of January. 20% of the total supply
of DOLO will be allocated for this airdrop, and divided into two
equal segments each representing 10% of the total supply. First,
the DOLO/veDOLO airdrop will reward users who have used assets on
Dolomite in the time since its launch on October 13, 2022. The
amount distributed to each user will scale linearly with the
capital they used on the platform. Allocations will also be boosted
for participants in Dolomite’s Community XP Program.
Once the TGE occurs, users will have six months to claim. Users
will be able to claim half of this airdrop as DOLO, which can be
freely transferred or traded, while the remaining half will be
issued as veDOLO, which comes with a two-year lockup. Users can
sell veDOLO earlier but must incur a fee to break the lock. Any
unclaimed tokens will be added to the Dolomite DAO treasury to
support future community and protocol initiatives.
Second, the options airdrop for Minerals holders will provide
participants in the Dolomite Minerals Program, who earned rewards
by providing key borrowable assets such as USDC, ETH, and WBTC, the
unique opportunity to purchase DOLO tokens at a discounted
valuation. The purchase price is equivalent to a $45 million fully
diluted valuation (FDV), $15M below the valuation of the most
recent funding round. Users can purchase tokens using ETH, USDC,
USDT and HONEY.
Dolomite has emerged as one of the most robust protocols in
DeFi, offering users security, utility, and efficiency. With over
$775 million in trade volume processed and a TVL of over $125
million, primarily on Arbitrum, the protocol has a proven track
record. Dolomite has risen to one of the leading lending protocols
on Arbitrum due to their unique supported assets and features, as
well as over two years of incident-free operation. Backed by
Coinbase Ventures, Draper Goren Holm, NGC Ventures, WWVentures, and
other top-tier investors, Dolomite is a leader in the DeFi
ecosystem.
About Dolomite
Dolomite allows users to unlock dormant capital by smarter
borrowing and lending. It enables smarter asset deployment through
powerful integrations across the DeFi ecosystem. Dolomite’s
advanced architecture supports separate borrow positions from a
single wallet, each with a distinct risk profile. Its unique
architecture can support over 1,000 assets and allows for a broad
range of yield-bearing assets to be used as collateral, helping
users earn rewards while borrowing against these assets.
Over time, Dolomite aims to become a hub for DeFi activity to
allow other protocols, yield aggregators, DAOs, market makers,
hedge funds, and others to manage their portfolios and run on-chain
strategies.
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Contact
Co-founder and
COO
Adam
Knuckey
contact@dolomite.io