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In quantum magnetism spin dimers are typically associated with spin-singletstates. To date, $triplet$ $dimerization$ has not been observed in any 3D orquasi-2D material. With this in mind we here discuss the electronic structureof the spin-orbit driven $5d^5$ Mott insulator Li$_2$IrO$_3$, ahoneycomb-lattice system with two crystallographically inequivalent Ir-Irbonds. From $ab$ $initio$ many-body calculations we find that, while bothHeisenberg and Kitaev couplings are present, the magnetic interactions aredominated by a strong isotropic ferromagnetic exchange on only one set ofbonds. This causes the formation of triplet spin dimers effectively placed on astrongly frustrated triangular lattice. The triplet dimers remain protected ina large region of the phase diagram, suggesting that Li$_2$IrO$_3$ has along-range incommensurate magnetic ground state that is pushed by the Kitaevexchange interactions beyond a standard planar helix configuration.

Strongly frustrated triangular spin lattice emerging from triplet dimer formation in honeycomb Li2IrO3