On March 28th, the decentralized lending protocol Dolomite (TVL~ $800 million) announced that it will expand to the Bitcoin network through integration with Spiderchain developed by Botanix Labs. Spiderchain is a Bitcoin-based Layer 2 solution that uses a proprietary proof-of-stake (PoS) consensus mechanism and transforms Bitcoin from the UTXO model to an Ethereum-like account model, thus supporting smart contracts. Dolomite has previously run on multiple Ethereum-compatible networks, including Polygon zkEVM, Arbitrum, Berachain, and OKX's X Layer. Notably, the Trump-backed World Liberty Financial appointed Dolomite co-founder Caplan as the project's head of technology strategy.
Spiderchain uses a "decentralized multi-signature network" mechanism to manage bitcoin collateral through Botanix Orchestrators and generate multi-signature wallets for consensus.
Dolomite expands to the Bitcoin network with Botanix Labs' Spiderchain
2025-03-28 03:08:01
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