Dolomite Expands DeFi Horizons: Launches on Polygon zkEVM
Dolomite, a prominent Decentralized Exchange (DEX) operating on Arbitrum, has revealed its highly anticipated launch on Polygon’s recently introduced zkEVM (zero-knowledge Ethereum Virtual Machine). This strategic move stands as a significant milestone in the continuous evolution of Decentralized Finance (DeFi) within the crypto landscape.
Dolomite’s First-Mover Advantage on Polygon zkEVM
In a press release shared with CNF, Dolomite proudly assumes the role of the first mover on the Polygon zkEVM chain. The platform is geared to facilitate trading and enable DeFi advancements for unique assets embedded within the Polygon ecosystem. Initially supporting assets like USD Coin (USDC), Ethereum (ETH), Wrapped Bitcoin (WBTC), and Polygon (MATIC), Dolomite has ambitious plans to swiftly integrate numerous other assets. The collaboration with Polygon’s zkEVM not only aims to replicate Dolomite’s success on Arbitrum but also to unite with the broader zkEVM ecosystem.
Polygon zkEVM’s Strategic Attributes
Dolomite’s decision to integrate with Polygon’s zkEVM aligns with the network’s growing prominence, attributed to its scalability, security, and EVM-equivalency, setting it apart from other blockchain networks. The innovative approach of Polygon zkEVM mitigates Ethereum network congestion by consolidating blockchain transactions into zero-knowledge proof rollups, leading to enhanced transaction speed and efficiency.
Polygon’s Robust Foundation for Growth
With nearly $1 billion in Total Value Locked (TVL), Polygon’s Proof-of-Stake (PoS) network ranks as the seventh-largest in the industry, providing a robust foundation for the flourishing Polygon zkEVM. The network has witnessed substantial progress since the launch of zkEVM last year, with over 56 projects launching during its beta phase. As it enters Stage 2 of development, the focus is on responsible growth of Decentralized Applications (dApps) and activation of on-chain activity.
Roadmap for Future Development
In the upcoming months, the Polygon zkEVM community can anticipate a gradual rollout of new dApps and educational initiatives designed to foster ecosystem growth. Stage 3, scheduled for March, promises a significant upgrade to the Polygon zkEVM client, eliminating all throughput limitations.
Dolomite’s Architectural Brilliance and Virtual Liquidity System
At the core of Dolomite’s success lies its advanced architecture, pushing the boundaries of decentralized finance markets. The platform enables higher capital efficiency and supports a diverse range of assets, providing users with a seamless and flexible trading experience. Backed by major venture capital firms in the crypto industry, Dolomite has become a leading lending protocol on Arbitrum with an expanding list of supported assets.
Integration Hailed by Polygon Labs
Jack Melnick, the Head of DeFi at Polygon Labs, praised Dolomite’s integration with Polygon zkEVM, emphasizing the team’s swift efforts to create network effects through integrations with unique native assets on the chain. Dolomite’s Virtual Liquidity system aligns seamlessly with the processes on Polygon zkEVM, offering users easy access to value while safeguarding their DeFi-native rights.
Frontrunner Status Confirmed
Dolomite’s inclusion in Polygon Labs’ “DeFi Unleashed” campaign further cements its position as a frontrunner in the burgeoning Polygon zkEVM ecosystem. With more than $50,000 in rewards allocated for distribution to users of participating projects, Dolomite is poised to attract and retain a diverse user base, showcasing its commitment to sustained growth and innovation.
