DeFi platform Dolomite emphasizes capital efficiency, and offers a very simple way to earn on your token holdings as it features a range of prebuilt strategies that can be executed with just a few clicks. Arbitrum, Berachain and Mantle are supported, with Polygon zkEVM and X Layer currently in beta, and there are strategies available at various APRs and with differing risk levels.
DeFi can be complicated, so it’s useful to have a platform with some pre-planned strategies already mapped out and ready to execute, and that’s exactly what Dolomite offers, along with a lot of other valuable features, so in this guide let’s explore Dolomite, what it has to offer, and how to use it.
What Is Dolomite?
A DeFi borrowing and lending protocol with a strong emphasis on capital efficiency, Dolomite operates across several networks: Arbitrum, Berachain, Mantle, Polygon zkEVM (in beta), and X Layer (again in beta). Dolomite also offers spot and margin trading features, and–as we’ll concentrate on here–it has plenty of ways to earn passively on your holdings.
So if there’s a particular one of those chains you’d prefer to use, make sure you’re switched to that option on the app and also in your wallet, and then go ahead and connect up your wallet, but it can be worth exploring options across various networks.
Before transacting though, be aware of the risks involved when using DeFi protocols, which include: smart contract vulnerabilities, frontend attacks, and systemic risks across DeFi and crypto.
Dolomite Earn
To get started picking up returns, click on the Earn tab and you’ll find various options. Berachain, with its new Proof-of-Liquidity consensus mechanism and a lot of attention at the moment, looks like it has solid potential as a growing network and is specifically designed for DeFi, so as an example let’s look at what’s available on that chain.
You can see that the APR for supplying the BERA token is currently at above 20%, so if that sounds good then to make a deposit it’s as simple as clicking on the Deposit button, entering how much of the token you want to add, and clicking Deposit again to start the transaction, and you can see that this is where withdrawals can be made too.
If you need to swap any tokens when connected to Berachain on the app, you can click on the Bwap button, which will give you access to DEX aggregators so you can get hold of the tokens you need.
However, note that when swapping you’ll need to have tokens deposited to your account on Dolomite, rather than just in your wallet, and you’ll also need to do this in order to make use of Dolomite Strategies, which we’ll look at next, along with how to deposit to your Dolomite balance.
Dolomite Strategies
As you’d expect, up at the top of the app click on the Strategies tab, and if you’re on Berachain–which we’ll continue with here–you’ll notice that Strategies are called Brategies (and Dolomite changes to Bolomite in the tab too).
Balances
From here, over on the left you’ll see your Dolomite Balances, which will all be at zero if you haven’t made any deposits, and there are three self-explanatory buttons here–Deposit, Withdraw, and Swap.
So, to deposit some tokens to your balance go…
