Hashi “launched with $500 million”? No mainnet, and none of that money is in it yet
Hashi is BTC infrastructure on $SUI
The mainnet will roll out in stages later in October
The $500 million-plus is commitments from those launching alongside Hashi. CoinDesk says the same: commitments, not deposits
There are already more than 20 partners in the project
How it works:
You deposit BTC into Hashi, and hBTC is minted for you on Sui
The bitcoin itself doesn’t leave the Bitcoin network, but it’s held under a 2-of-2 multisig: signed by Hashi validators and a guardian
So the hBTC in your wallet is a claim on whoever holds that multisig. You have to trust more than just Bitcoin
I’m not on $BTC
right now, so I don’t have any BTC to deposit into Hashi
When the mainnet launches, I’ll see how much of that $500 million actually comes in and post here
#Hashi #SUİ #BTCFi
Hashi is BTC infrastructure on $SUI
The mainnet will roll out in stages later in October
The $500 million-plus is commitments from those launching alongside Hashi. CoinDesk says the same: commitments, not deposits
There are already more than 20 partners in the project
How it works:
You deposit BTC into Hashi, and hBTC is minted for you on Sui
The bitcoin itself doesn’t leave the Bitcoin network, but it’s held under a 2-of-2 multisig: signed by Hashi validators and a guardian
So the hBTC in your wallet is a claim on whoever holds that multisig. You have to trust more than just Bitcoin
I’m not on $BTC
right now, so I don’t have any BTC to deposit into Hashi
When the mainnet launches, I’ll see how much of that $500 million actually comes in and post here
#Hashi #SUİ #BTCFi