Dolomite Enables Concrete to Borrow Against $100 Million in Bitcoin
Photo: TokenPost
Dolomite has enabled Concrete to borrow against $100 million in Bitcoin (BTC) held at BitGo, with any liquidation dependent on an offchain custody settlement rather than an immediate onchain sale. The BTC serves as collateral, or an asset pledged to back borrowing. Dolomite provides Concrete’s borrowing access, while BitGo holds the Bitcoin. If a position is liquidated, settlement must take place outside the blockchain instead of through an instant onchain sale. That makes BitGo’s custody process part of the liquidation path: the borrowing is enabled through Dolomite, but the collateral is held at BitGo.
Source: TokenPost
