Get ready

We’re excited to announce that this Monday marks the culmination of 1.5 years of development with the release of Dolomite!

In April of 2018 we set out to build the decentralized exchange we’ve always wanted to use, and today we’ve definitely achieved that goal, and then some. We can’t wait for you to try out Dolomite for yourself and to hear your feedback!

Highlights

First major DEX launching on the Loopring Protocol .

. First DEX to natively integrate Wyre for seamless fiat conversions.

for seamless fiat conversions. First DEX to offer negative maker fees .

. First of its kind managed account eliminates the need to wrap ETH, approve tokens, and even hold ETH at all.

eliminates the need to wrap ETH, approve tokens, and even hold ETH at all. Trade right from your MetaMask, Ledger, Portis, Fortmatic, or keystore wallet with no deposits to a smart contract.

to a smart contract. U.S. based, serving U.S. customers in addition to other countries.

in addition to other countries. Cash in and out with your bank for a rock-bottom 0.75% fee .

. Place and cancel trades instantly and for free.

Includes built-in portfolio manager.

“Existing decentralized exchanges offer strong security but lack the streamlined user experience and intuitive ease of use of their centralized counterparts… The launch of Dolomite’s Loopring Protocol-based exchange solves many of these issues, and its contribution to the development of truly usable DEXs cannot be understated. It is an evolutionary leap towards making this exciting technology a reality for cryptocurrency users and traders around the globe.” — Daniel Wang, Loopring Founder and CEO

First of its kind account system

For users unfamiliar with using an Ethereum wallet, Dolomite offers a first-of-its-kind non-custodial managed wallet option utilizing create-2. This solution allows users to manage their wallet with just an email and password, as well as use two-factor authentication for added security.

Funds in the wallet remain on the blockchain and can be accessed by the user at any time, even if Dolomite were to shut down.

The best part for users using this account system is that there is no need to wrap ETH or approve tokens in order to trade. In fact, no ETH needs to be in the wallet at all to trade non-ETH tokens. This means that a user trading on an LRC-DAI trading pair would only need to hold LRC or DAI, and the trades are still settled on the blockchain. This revolutionary new account system will make decentralized trading easy enough that your mom could do it!

Fiat Gateway

Dolomite is the first decentralized exchange to natively integrate Wyre to allow traders to seamlessly cash in/out between their bank account and their wallet. Traders will be able to convert between USD and ETH, WETH, and DAI for a fee of only 0.75%, the lowest of any decentralized exchange. Fiat conversions through Wyre are currently available in 37 states in the US, with more states and countries on the way.

Trading

Dolomite currently offers limit orders and market orders for trading, with stop limit orders coming soon. Margin trading will also be added very soon offering up to 5x leverage.

Dolomite is the first decentralized exchange to offer a negative maker fee, paying makers 0.1% for each trade on Dolomite while takers have a fee of 0.5%. Because the order book is managed off chain, placing and cancelling orders is instant and free and orders are matched immediately in price/time priority. By building off the Loopring Protocol, Dolomite takes advantage of Loopring’s patented anti-frontrunning solution, providing greater peace of mind for traders.

“Our philosophy when it comes to trading pairs,’’ says Adam Knuckey, co-founder and COO, “is that we would rather have just a few trading pairs with a lot of liquidity rather than a lot of tokens with little or no liquidity. We’re not just listing tokens for the sake of it.” Following this philosophy, Dolomite will launch with only ETH, DAI, and LRC trading pairs, backed by a dedicated market maker to guarantee liquidity at launch. Adam says that they’re looking to add WBTC and BAT tokens soon after launch.

Referral Program

Dolomite is launching with a commission-based referral program. Traders earn a 25% commission of the fees paid by any friends they refer for their first month, with the opportunity to earn a 50% commission by holding at least 10,000 LRC tokens. Traders signing up with a referral code pay 25% less in fees for their first month. There is no cap on referral earnings, and earnings can be cashed out directly to your wallet at any time. You can find out more at dolomite.io/referrals.

Regulatory Approach

In an effort to serve US traders and comply with current and future US regulations, Dolomite has a KYC process for traders. However, to give users more control and make getting started easier, Dolomite has a unique 4-tier KYC process. To get started trading $300 a day or less on Dolomite only requires a name, email address, and date of birth. Each higher tier raises the trading limit, with unlimited trading and fiat transfers enabled at the highest tier.

So what are you waiting for?

We’re pumped to finally share Dolomite with you, and we’d love if you shared your feedback with us as well! Let us know what you think of Dolomite, any problems you run into, things you think could be smoother, or ideas you have for the platform. We’re always around on our Telegram channel to chat, or reach out on Twitter or over email.

Happy trading! ⛰

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