Dolomite Collaborates with X Layer for Innovative Lending Protocol Launch

Dolomite to launch DeFi Lending Protocol on X Layer Network

Dolomite, a leading decentralized finance (DeFi) lending and borrowing protocol, announced it would debut on X Layer, OKX’ innovative and secure Ethereum-based Zero Knowledge (ZK) Layer 2 (L2) network, according to the information shared with Finbold on April 29.

New yield-generating assets on Dolomite

Following its success on Arbitrum, where it quickly climbed to become the 4th largest lending market and the market with the most supported assets, Dolomite aims to continue its streak on X Layer.

• Expansion of Asset Support: Incorporating numerous yield-generating assets on X Layer.
• Introduction of DeFi Primitive: Dolomite on X Layer forming a foundational element for economic activities.

Dolomite as the leading lending protocol on X Layer

The collaboration solidifies Dolomite’s position as the leading lending protocol on X Layer, offering advanced features to users.

“We are very excited to launch on top of X Layer. We’re big fans of the OKX team and their commitment to building a L2 using zk tech. We’re happy to be early supporters of their ecosystem and to help bring DeFi to the masses.”

Developed utilizing Polygon’s Chain Development Kit (CDK), X Layer leverages zero-knowledge technology. By integrating with AggLayer, Polygon’s liquidity aggregation layer, X Layer taps into liquidity from other Polygon chains.

Wrap up

While Dolomite is one of the first dApps to debut on X Layer, it will soon be joined by hundreds of others currently preparing to deploy on the L2, offering OKX’s 50 million users a wide array of applications beyond Dolomite.