Dolomite Announces Airdrop Following Snapshot
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.
