crypto-news-flash.com
- Arbitrum’s fast-growing DEX Dolomite has launched on Polygon zkEVM.
- The protocol is set to bring its advanced trading engine backed by ZK technology to Polygon.
Dolomite, a leading Decentralized Exchange (DEX) on Arbitrium has announced its anticipated launch on Polygon’s new zkEVM (zero-knowledge Ethereum Virtual Machine), marking a crucial milestone in the expansion of Decentralized Finance (DeFi) into one of the most vibrant ecosystems in crypto.
Dolomite’s Integration with Polygon zkEVM
As highlighted in a press release shared with CNF, Dolomite stands as a first mover on the Polygon zkEVM chain, ready to support trading and DeFi gains for unique assets within the Polygon ecosystem.
Initially, the platform will support assets such as USD Coin (USDC), Ethereum (ETH), Wrapped Bitcoin (WBTC), and Polygon (MATIC), with plans to rapidly integrate dozens more. By joining forces with Polygon’s zkEVM, Dolomite aims to replicate the remarkable success it has achieved on Arbitrum, while also uniting the wider zkEVM ecosystem.
Dolomite’s decision to launch on Polygon’s zkEVM comes at a time when the network is gaining notable traction, with its scalability, security, and EVM-equivalency setting it apart from other chains. Polygon zkEVM decreases Ethereum network congestion by batching blockchain transactions into zero-knowledge proof rollups, leading to faster and more efficient transactions.
With almost $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 growth of Polygon zkEVM.
Polygon zkEVM launched last year and has seen considerable progress, with over 56 projects launching on the platform during its beta phase. Now entering Stage 2 of development, the focus is on responsible Decentralized Application (dApp) growth and on-chain activity activation.
Over the coming months, the community can expect a gradual rollout of new dApps and educational initiatives aimed at fostering ecosystem growth. Additionally, Stage 3, slated for March, promises a major upgrade to the Polygon zkEVM client, eliminating all limitations on throughput.
Jack Melnick, the Head of DeFi at Polygon Labs hailed the Dolomite’s integration with Polygon zkEVM, stating,
“The team has instantly begun to create network effects as they build integrations for a number of the unique native assets on the chain.”
Dolomite’s Advanced Architecture
At the core of Dolomite’s success lies its advanced architecture, which pushes the boundaries of decentralized finance markets.
By enabling higher capital efficiency and support for a broader range of assets, Dolomite offers users a seamless and flexible trading experience. Backed by some of the biggest venture capital firms in the crypto industry, Dolomite has emerged as one of the top lending protocols on Arbitrum, with a growing list of supported assets.
Melnic highlighted that Dolomite’s Virtual Liquidity system is an excellent fit for the current processes included on Polygon zkEVM, providing users with easy access to value while protecting their DeFi-native rights.
Its inclusion in Polygon Labs’ “DeFi Unleashed” campaign further solidifies its position as a frontrunner in the growing Polygon zkEVM ecosystem. With more than $50,000 in rewards slated for distribution to users of participating projects, Dolomite is well-positioned to attract and retain a diverse user base.