Dolomite to Launch Royco Pre-Deposit Campaign on Berachain

British Virgin, Islands, January 21st, 2025, Chainwire

Dolomite, a decentralized money market protocol, announced the upcoming launch of its pre-deposit campaign for Berachain, an emerging layer-1 blockchain with an innovative Proof of Liquidity (PoL) consensus mechanism that has already accrued around $2B in liquidity. This campaign allows users to commit assets to Dolomite ahead of Berachain’s official launch through Royco, the market for any onchain action, and earn future rewards.

Through the campaign, participants can freely commit and uncommit assets until the Berachain mainnet goes live. Once the launch of Berachain occurs, committed assets will be locked on Dolomite for a predetermined period, with the lock up period bringing added incentives. On top of a base lending yield for providing lendable assets such as HONEY, USDC, ETH, and WBTC , users will receive veDOLO and BERA as additional rewards for their lockup. 30 million veDOLO tokens will be distributed, with reward weights varying by asset type. Berachain has committed 1%+ of the supply of BERA to be dedicated to Royco deposits. Shortly after the TGE, Dolomite will launch its liquidity mining program, allowing those supplying qualifying assets to earn oDOLO in addition to the veDOLO, BERA, and interest.

Dolomite’s robust lending technology empowers users to unlock new efficiencies. Notably, the platform allows users to borrow against assets staked in PoL, repay debts using collateral, and loop borrowing processes in a single click. Furthermore, Dolomite will support borrowing against $BGT, Berachain’s soulbound and non-transferable governance token. As $BGT is not supported as collateral by other lending protocols on Berachain due to its non-transferable nature, Dolomite provides a critical solution for unlocking the utility of $BGT. Combined with Berachain’s ecosystem, the Royco campaign positions Dolomite to become a hub for liquidity on the Berachain blockchain.

Lendable and non-lendable assets are both eligible for the Royco campaign. Lendable assets, including HONEY, USDC, NECT, ETH, and WBTC, will be locked for 90 days and receive a majority of rewards due to their support for the protocol’s lending and borrowing ecosystem. Non-lendable assets, such as uniBTC and beraETH, are locked for 30 days and receive a smaller share of rewards.

Dolomite’s deployment on Berachain aligns with its ongoing mission to create a secure, efficient, and user-focused decentralized finance ecosystem. With over two years of secure operations, $800 million in trade volume processed, and over $115 million in TVL, Dolomite has established itself as a reliable and innovative platform. By combining Dolomite’s robust lending technology with Berachain’s dynamic ecosystem, this campaign provides participants with tools to maximize capital efficiency and support a protocol as it becomes a central hub for liquidity and innovation.

“We are bringing Dolomite’s advanced DeFi capabilities and Berachain’s cutting-edge PoL mechanism together, creating synergy within the DeFi ecosystem,” said Corey Caplan, co-founder of Dolomite. “Participants position themselves at the forefront of Berachain, and can maximize their capital efficiency through Dolomite, retaining full DeFi asset functionality, and support a protocol that is reshaping the landscape of decentralized lending.”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 design 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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About Berachain

Berachain is an EVM-identical Layer 1 (L1) blockchain that uses the novel Proof of Liquidity (PoL) consensus mechanism to secure the network and fuel the application layer. PoL enables users to earn directly from the network for contributing liquidity or performing incentivized actions—transforming the chain's inflation into fuel for its applications and their users. This model aligns incentives with users who support the network over the long term, creating a sustainable ecosystem where the network's growth and liquidity reinforce each other while increasing its security. What started as an NFT project in 2021 has evolved into a full-fledged blockchain ecosystem backed by a grassroots army of left and right curvers.

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This article was originally published on Chainwire

Source: Investing.com