Dolomite expands to the Bitcoin network through Botanix Labs' Spiderchain

On March 28, the decentralized lending protocol Dolomite (with a TVL of approximately $800 million) announced its expansion to the Bitcoin network through integration with Spiderchain developed by Botanix Labs. Spiderchain is a Layer 2 solution based on Bitcoin that uses a proprietary Proof of Stake (PoS) consensus mechanism and transforms Bitcoin from UTXO mode to an account model similar to Ethereum, thereby supporting smart contracts. Dolomite has previously operated on multiple Ethereum-compatible networks, including Polygon zkEVM, Arbitrum, Berachain and OKX's X Layer. Notably, World Liberty Financial backed by Trump once appointed Caplan, co-founder of Dolomite as the technical strategy director for this project. Spiderchain adopts a "decentralized multi-signature network" mechanism managed by Botanix Orchestrators to handle Bitcoin collateral and generate multi-signature wallets for consensus.