Dolomite is a next-generation decentralized money market protocol and DEX(Decentralized Exchange) that offers broad token support and capital efficiency with its virtual liquidity system. The firm combines the strengths of a DEX and a lending protocol into the most capital efficient and modular protocol that has never been seen before in DeFi(Decentralized Finance). The protocol has the ability to offer over-collateralized loans, margin trading, spot trading and other financial instruments. The firm’s architecture pushes the boundaries of what decentralized money markets are capable of and therefore, boasting higher capital efficiency and broader asset support than previously witnessed.
Recently, Leavitt Innovations – the lead developer of Dolomite protocol, has announced the closure of an undisclosed financing round that yielded $2.5 million in capital. The funding round was led by venture capital funds Draper Goren Holm and NGC Ventures. Other backers in this round include Coinbase Ventures, WWVentures, 6th Man Ventures, Token Metrics, Orchard Street Capital and Guanxi DAO. The round also saw participation from notable angel investors including Matthew Finestone, Kyle Rojas, David Bleznak and coinflipcanada among others.
The firm is developing groundbreaking lending and borrowing solutions that can unlock dormant capital by borrowing and lending in new ways and with new assets through powerful integrations across the DeFi ecosystem.
Also the firm uses Chainlink technology to power a new next generation system. In the past DEX margin trading has limited users to trading ETH and WBTC against stablecoins. With the new system developed by Dolomite, users can margin trade many of their favorite DeFi assets against stablecoins or even other DeFi assets.
For developers, Dolomite is highly composable since it has been built with composability in mind therefore, making it easy for other projects to interact with connect to and build on Dolomite. The platform’s smart contracts are immutable and non-upgradable. This gives assurance that integrations will continue to work into the future with little or no maintenance. It therefore offers a rock solid foundation upon which other projects can build on, inherit from and improve the entire DeFi ecosystem.
