Decentralized Money Market Protocol Dolomite Raises $2.5 Million with Coinbase Ventures Involved

Decentralized Money Market Protocol Dolomite Raises $2.5 Million with Coinbase Ventures Involved

Dolomite, a decentralized money market protocol on Arbitrum, closed a $2.5 million round of funding led by Draper Goren Holm and NGC with participation from Coinbase Ventures, WWVentures, 6th Man Ventures, and others.

Dolomite, launched in November 2022, aims to maximize capital efficiency, allowing assets to be seamlessly used in several ways at once.

Assets deposited to Dolomite will earn interest through margin lending by default, but those same assets can be deposited into a Dolomite liquidity pool to simultaneously earn margin lending interest and liquidity pool fees. Additionally, those assets in the liquidity pool can eventually be used as collateral for yield farming.

 

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Source

Arbitrum

DeFi

Fund Raising

Coinbase Ventures

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