On August 27, Binance announced its 33rd project on the HODLer Airdrops portal ahead of its listing on the exchange. The exchange created the HODLer Airdrops portal to reward users retroactively, based on historical snapshots of their BNB holdings.
What is Dolomite (DOLO)?
Dolomite is a next-gen money market and margin trading protocol serving DeFi. It claims to be the only lending and borrowing platform that can support over 1,000 unique assets, allowing users to:
- Lend
- Borrow
- Earn
Dolomite promises to be the only comprehensive DeFi platform that offers these features to users without losing their DeFi rights.
The platform also allows users to margin trade DeFi assets against stablecoins or other DeFi assets. It promises to support assets that are not found on any other DeFi protocols.
According to its official website, the project believes in the fundamental rights of DeFi users, allowing them not to forfeit the utility of assets, governance rights, yield-bearing, staking rewards, and more.
Dolomite is built with flexibility in mind, allowing users to open multiple borrow positions from the same wallet, each collateralized by up to 30 different assets. It's also worth noting that the project's smart contracts are:
- Immutable
- Non-upgradeable
The project is live on Arbitrum, Mantle, Polygon zkEVM, and X Layer.
The Dolomite Governance forum went live on August 25, and the team behind the project announced via an X post that since the TGE, they have been fine-tuning the way in which the protocol governance will function, marking a new move towards a community-driven protocol.
Binance Will Launch DOLO On August 27
In an official announcement, the biggest crypto exchange in the world announced DOLO as its 33rd project on HODLer Airdrops, stating that users who subscribed their BNB to Simple Earn (Flexible and/or Locked) and/or On-Chain Yield products between August 3 at 00:00 (UTC) and August 6 at 23:59 (UTC) are eligible for the airdrop.
Binance will open trading for the following pairs today, at 16:00 (UTC):
- DOLO/USDT
- DOLO/USDC
- DOLO/BNB
- DOLO/FDUSD
- DPLO/TRY
Binance will list DOLO with the Seed Tag applied, signaling potential higher volatilty for the project, and the exchange has already listed the digital asset on Binance Alpha - the platform created to showcase early-stage projects with growth potential in Web3.
Following Binance's announcement, DOLO price surged.
DOLO Price Trajectory Today
DOLO was trading at around $0.26 ahead of the exchange's listing announcement, and DOLO's price spiked above $0.3, hitting a market cap of over $81.9 million.
At the moment of writing this article, DOLO is trading above $0.3, and the digital asset has a market cap of over $81 million, and it's up by over 30% in the past 24 hours.
DOLO's 24-hour volume is over $64 million, up by almost 82%.
