On March 28, the decentralized lending protocol Dolomite (TVL about US$800 million) announced that it will expand to the Bitcoin network through integration with Spiderchain developed by Botanix Labs. Spiderchain is a Bitcoin-based Layer 2 solution that adopts a proprietary Proof of Stake (PoS) consensus mechanism and converts Bitcoin from UTXO model to an Ethereum-like account model to support smart contracts. Dolomite has previously run on several Ethereum-compatible networks, including Polygon zkEVM, Arbitrum, Berachain and OKX's X Layer. It is worth noting that Trump-backed World Liberty Financial has appointed Dolomite co-founder Caplan as the project's head of technical strategy. Spiderchain adopts the "decentralized multi-signature network" mechanism to manage Bitcoin staking through Botanix Orchestrators and generate multi-signature wallets for consensus.