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Sui blockchain launches Hashi network for Bitcoin lending
Mysten Labs has launched Hashi, a Bitcoin financial network on the Sui blockchain. The network aims to enable Bitcoin to be used as loan collateral without leaving the Bitcoin blockchain itself. Users lock their Bitcoin in multi-signature vaults on the Bitcoin network in exchange for hBTC tokens issued on the Sui chain. These hBTC tokens represent a claim on the locked Bitcoin.
Hashi has secured commitments for over $500 million from more than 20 partners, including BitGo, Bullish, Cumberland, FalconX, Ledger, and Anchorage Digital. Vault operators include Aftermath, Concrete, and Fluid, with smart contract audits performed by Certora.
Additionally, Sui has announced a $30 million investment in DATA Network, a data training protocol for artificial intelligence that is transitioning from its own independent blockchain to the Sui network.
Entities
Anchorage Digital · BitGo · Bitcoin · DATA Network · Hashi · Mysten Labs · Sui · Sui
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The Hashi launch began on October 9 and will proceed in stages. tw.stock.yahoo.com
- [○ 1 SOURCE] Bitcoin is locked in multi-signature vaults on the Bitcoin blockchain. tw.stock.yahoo.com
- [○ 1 SOURCE] More than twenty partners have committed over $500 million in funds. tw.stock.yahoo.com
- [○ 1 SOURCE] Loans are paid in assets on the Sui chain rather than Bitcoin. tw.stock.yahoo.com
- [○ 1 SOURCE] The Hashi network has launched on the Sui blockchain. tw.stock.yahoo.com
- [○ 1 SOURCE] hBTC tokens are issued on the Sui chain to represent claims on locked Bitcoin. tw.stock.yahoo.com
- [○ 1 SOURCE] BitGo, Bullish, Cumberland, FalconX, Ledger, and Anchorage Digital are participating partners. tw.stock.yahoo.com
- [○ 1 SOURCE] SUI tokens are used for transaction fees and network security. tw.stock.yahoo.com