TL;DR
- Dolomite expands its DeFi platform to Bitcoin through Spiderchain, a Layer 2 solution that enhances the blockchain’s scalability.
- Spiderchain integrates the Ethereum Virtual Machine (EVM) into Bitcoin, enabling smart contracts and transitions to Ethereum’s account-based model.
- Dolomite, with $800 million locked, will offer lending, spot trading, and collateralization of complex assets on its new Bitcoin network.
Dolomite has announced its expansion to Bitcoin via an integration with Spiderchain, a Layer 2 solution developed by Botanix Labs. With a total value locked of nearly $800 million, Dolomite aims to leverage Spiderchain’s enhanced scalability and functionalities to bring its decentralized lending platform to the Bitcoin ecosystem.
Spiderchain is an innovative solution that improves Bitcoin’s scalability by integrating Ethereum Virtual Machine (EVM) compatibility. This Layer 2 solution uses a proof-of-stake (PoS) consensus model and allows the transition from Bitcoin’s Unspent Transaction Output (UTXO) model to an account-based model similar to Ethereum’s. This architecture enables smart contract execution on Bitcoin, a key aspect for DeFi expansion within this blockchain.
We're excited to announce that Dolomite is expanding to @BotanixLabs! 🕷️
The first decentralized EVM L2 on Bitcoin will be the newest home for our next-gen money market protocol, bringing DeFi-native rights to the Bitcoin ecosystem.
⤵️⤵️ pic.twitter.com/tlJOVyJWVx
— Dolomite 🏔️ (@Dolomite_io) March 27, 2025
Dolomite Aims to Expand Its Platform’s Capabilities and Tools
Dolomite, which provides both decentralized exchange and money market services. Already operates on several Ethereum-compatible networks, such as Polygon zkEVM and Arbitrum. Its expansion to Spiderchain aims to enhance the platform’s capabilities. Allowing users to access new features such as lending and spot markets. Additionally, Dolomite is recognized for allowing the collateralization of complex assets, such as GMX’s yield-generating tokens. Making it an attractive option for those seeking more flexibility in their DeFi operations.
Corey Caplan, founder of Dolomite, highlighted that the expansion to Bitcoin aims to push DeFi to new limits without compromising security or decentralization—two essential factors for the long-term sustainability of the sector. Additionally, the goal is to integrate Bitcoin more deeply into the decentralized finance world.
Spiderchain, for its part, has made significant progress in its development. Its Aragon testnet was launched in December, and the activation of the mainnet is scheduled for the coming months.
