Dolomite has added $100 million in Bitcoin-backed collateral from Concrete, according to The Defiant. The setup allows borrowers to take loans against Bitcoin held with BitGo rather than moving the asset directly into an onchain liquidation path. A key detail is how risk is handled if positions need to be unwound: liquidations do not happen through an instant onchain sale. Instead, they require settlement through offchain custody. That structure sets this collateral model apart from more typical DeFi liquidations, where assets are often sold automatically onchain once thresholds are breached. The report identifies BitGo as the custodian holding the Bitcoin and Concrete as the platform enabling borrowing against it. The addition expands the amount of collateral available on Dolomite while also highlighting the operational distinction between onchain lending interfaces and offchain custody-based settlement when liquidation events occur.
Dolomite has added $100 million in Bitcoin-backed collateral from Concrete, according to The Defiant.
Concrete lets users borrow against Bitcoin held at BitGo. If a position is liquidated, though, the process does not rely on an instant onchain sale of the collateral. Settlement has to be completed through offchain custody instead.
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