On April 22, Binance Alpha announced that it will list Dolomite (DOLO), and eligible users will be able to receive DOLO tokens. This DeFi protocol from Berachain has a lot of history, as its co-founder, Corey Caplan, is an advisor to Trump's World Liberty Financial project. The virtual liquidity function of Dolomite itself also greatly increases the capital efficiency of lending.
The co-founder of Dolomite is a DeFi advisor to Trump
Dolomite is a lending-based DeFi platform that was initially built on Arbitrum and has since expanded to Berachain, Mantle, PolygonzkEVM, XLayer, and more. However, of the current TVL of about $800 million, $740 million is concentrated in Berachain. It is currently the third protocol in Berachain TVL, behind Infrared Finance and Kodak.
It is worth mentioning that one of the co-founders, Corey Caplan, is an advisor to Trump's World Liberty Financial project, and he is also an investor in Infrared Finance. Dolomite has raised two rounds of funding from Coinbase Ventures, 6thMan Ventures, Polygon co-founder Sandeep Nailwal, Polygon CEO Marc Boiron and others.
Virtual liquidity capabilities for capital efficiency
The Dolomite platform has the functions of borrowing, trading, and running financial strategies, the most noteworthy of which is the function of virtual liquidity. Virtual Liquidity (Virtua lLiquidity) is an innovative way to use Dolomite's funds, which simply allows users to use funds to trade or borrow within the system, without actually withdrawing them. This design allows the same fund to "eat more than one fish", on the one hand, it can be used to earn interest, and on the other hand, it can participate in transactions to earn fees or other income.
Let's say you deposit $1,000 USDT in Dolomite, and according to the normal lending protocol, your money is locked there to lend to others, waiting to receive interest. But in Dolomite, you can use virtual USDT (USDT on the book in the system) to buy other assets or make transactions, and the money is still flowing in the system and has not really left. In other words, your funds play both the role of "providing liquidity" and "participating in transactions", which greatly improves the efficiency of the use of funds, which is capital efficiency.
The DOLO token model combines tokens in three states to achieve a forward flywheel
On April 22, Binance Alpha announced that it will list Dolomite (DOLO), and from April 15, 2025 to April 21, 2025 23:59:59 (UTC), Binance Exchange users who hold an average daily position of $50 or more in Binance exchange and wallet, and have purchased a cumulative amount of Alpha of at least $100 on Binance Exchange, will receive 260 DOLO airdrops in their Alpha accounts after TGE on April 24.
$DOLO is Dolomite's governance token, with a total amount of one billion, issued on Berachain and will be cross-chain through Chainlink CCIP in the future. The DOLO token model combines tokens in three states to achieve a forward flywheel:
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DOLO: A basic ERC-20 token with basic functions of transfer, liquidity and governance.
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veDOLO: A lock-up version that is used to participate in governance and obtain fee sharing.
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oDOLO: Part of the incentive model, users can redeem veDOLO at a discount after purchasing or borrowing.
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