Dolomite to Introduce New Lending Protocol in Collaboration with X Layer

Exciting news in the planet of decentralized finance (DeFi)! Dolomite, a well known DeFi lending and borrowing protocol, is gearing up to make its debut on X Layer, OKX’s ground breaking Ethereum-primarily based Zero Information (ZK) Layer 2 (L2) network. This interesting improvement was not long ago shared with Finbold on April 29.

The introduction of Dolomite to the Polygon-powered X Layer will deliver in new and robust asset lending alternatives for end users, improving their encounter inside of the platform.

Discover New Generate-Creating Assets on Dolomite

Soon after a successful stint on Arbitrum, wherever it promptly rose to become the 4th premier lending market place with the most supported belongings, Dolomite is established to make its mark on X Layer. This transfer will permit Dolomite to incorporate a wide variety of yield-producing belongings that have driven the progress of DeFi more than the previous 12 months.

The enlargement to X Layer will introduce essential DeFi primitives to the L2, producing a sound basis for different financial pursuits. Dolomite’s intention in increasing to X Layer is to turn into a flexible multi-chain protocol, presenting innovative applications to unlock dormant funds for X Layer end users.

On its start on X Layer, Dolomite will initially assist belongings these types of as OKB, WETH, Tether (USDT), USD Coin (USDC), and Wrapped Bitcoin (WBTC). OKB, the indigenous token of X Layer, plays a very important position in transaction costs and other community expert services.

Dolomite Foremost the Pack on X Layer

This collaboration solidifies Dolomite’s placement as the main lending protocol on X Layer, inviting buyers to discover its innovative capabilities and added benefits. Corey Kaplan, co-founder of Dolomite, expressed his enjoyment about the start on X Layer, highlighting the team’s motivation to bringing DeFi to a wider audience.

“We are pretty thrilled to start on top rated of X Layer. We’re huge enthusiasts of the OKX staff and their determination to constructing a L2 employing zk tech. We’re delighted to be early supporters of their ecosystem and to help provide DeFi to the masses.”

X Layer, developed utilizing Polygon’s Chain Development Kit (CDK) and zero-awareness technologies, integrates with AggLayer, Polygon’s liquidity aggregation layer, to faucet into liquidity from other Polygon chains.

In Conclusion

As Dolomite prepares to be just one of the initial dApps on X Layer, it is just the starting of lots of other people gearing up to be part of the L2 platform. With hundreds of programs in the pipeline, OKX’s 50 million people will shortly have entry to a varied range of offerings together with Dolomite.