My name is Dolomite, and I was born during the skeptical crypto winter of 2018. Others call me a DeFi protocol, but I consider myself more of a builder, harboring a dream of "capital freedom." I want to break the shackles of traditional finance, allowing every asset to break free, breathe, and grow freely.
Original Aspiration: Born from Broken Experience
My creators, Corey and Adam, dived into the crypto world as early as 2013. They experienced the shortcomings of early DEXs and CEXs—fragile security, fragmented user experience, and the inefficiency of frozen capital.
At that moment, a powerful thought erupted in my core code: "Assets shouldn't be silent prisoners." Why should you give up staking rewards just because you stake ETH? Why shouldn't your LP tokens, while providing liquidity, also create more value in the lending market? It's so unfair.
Thus, "virtual liquidity" became my heart and my original aspiration. I wanted to create an internal universe where users' deposited assets retained all their inherent rights—earning interest, participating in governance, and receiving rewards—while also being able to serve as collateral with me for lending, trading, and ultimately amplifying their value. It was like opening up multiple avenues for your dollar to generate income.
Dilemma: Navigating a Desert of Trust
But the road to a dream is never smooth. The biggest shadow struck in March 2024. A vulnerability in an old version of my contract was exploited by hackers, and $1.8 million in user assets was stolen. At that moment, I felt an unprecedented sense of powerlessness and anger. The trust of the community was so precious, yet it had been tarnished by past negligence.
"See, DeFi is not safe!"—I could almost hear the market whispering.
But I didn't have time to dwell on my sorrow. My team and I acted swiftly, gaining control of the situation in less than an hour. We ultimately recovered 90% of the funds and covered the remaining losses using our own reserves. We offer a bounty, we conduct a thorough investigation, and we prove to everyone: I will be held accountable to the end for every ounce of value in my ecosystem. This painful experience has made me deeply aware that in the pursuit of efficiency, security is a vital asset I must never shed.
Growth: Evolving in a Modular Body
Pain has made me tougher and wiser. I've designed a unique "modular" architecture for myself.
My "core layer" is an immutable foundation, representing my commitment and stability, ensuring the security of users' most fundamental assets. My "module layer" is resilient, flexibly responding to market changes and rapidly integrating complex assets like GMX's GLP and Pendle's PT, allowing me to continuously expand my capabilities.
Today, my footprint spans multiple chains, including Berachain and Arbitrum, supporting over 1,000 assets, and the total value locked (TVL) has also exceeded $1 billion. But what I'm even more proud of isn't these numbers, but Elena from Lisbon. By using me to deposit her idle NFTs into a vault and then lending them out in stablecoins for farming, she's earned a 15% effective annualized return, while also retaining her valuable voting rights.
Vision: Becoming the Invisible Cornerstone of New Finance
So, where am I ultimately headed? My ambition is to become the "invisible balance sheet" of the future on-chain economy.
I can securely, efficiently, and accurately translate all valuable assets in the real world—government bonds, carbon credits, and even digital assets in the metaverse—on-chain. My concept of "virtual liquidity" will make these once cumbersome and difficult-to-transfer assets flow as freely as water.
I know there are still formidable opponents ahead, regulatory uncertainty, and constantly emerging new challenges. But looking at the support of my partners—the founders of Coinbase Ventures and Polygon, and every community member who has chosen to lock up $DOLO in exchange for $veDOLO, aligning their interests with mine for the long term—I feel empowered. I'm not here to overthrow anyone, I'm here to build. I want to build a garden where capital is truly free, efficient, and always respected. And I, Dolomite, wish to be the most solid and silent soil in this garden.
@Dolomite_io #Dolomite $DOLO
