WORLDTECHDolomite Takes On $100 Million of Concrete's Bitcoin-Backed Collateral
Dolomite has added $100 million in Bitcoin-backed collateral from Concrete, according to a report by The Defiant. The arrangement lets Concrete borrow against Bitcoin that stays in custody at BitGo.
How the collateral arrangement works
Concrete can draw loans against Bitcoin held at BitGo instead of moving the coins onchain. Under this setup, a liquidation does not trigger an instant onchain sale. It is instead settled through offchain custody processes, according to the report.
The reporting points to the integration of BTCcx into Dolomite as a sign that decentralised finance is moving toward regulated custody. The Defiant presents this as one part of a broader push to balance institutional interest in yield against the demands of security.
What the reporting leaves unverified
The Defiant is the only outlet cited for these details. The available material offers no independent confirmation of the terms, the duration of the arrangement, or the size of any individual position beyond the $100 million figure.
Open questions
- How long will the $100 million collateral arrangement last?
- How long does offchain settlement take when a position is liquidated?