Can you borrow against bitcoin without sending it to another blockchain? Sui's new Hashi protocol says yes.
🧠 In plain words
Per CoinDesk, Hashi keeps your BTC locked in a vault on the Bitcoin network and issues a receipt token, hBTC, on Sui. It works like a coat check: your coat stays in the cloakroom, and the ticket in your hand is what you carry around. On Sui, that ticket can be used in lending and borrowing apps. Hand the ticket back, meaning burn the hBTC, and the original coins are released.
✅ What it means for you
• Your bitcoin never leaves its own chain, which removes a classic bridge risk
• You still depend on the vault's 2-of-2 multisig and the validators who sign it
• Launch liquidity starts with $500 million in partner commitments, with mainnet rolling out in phases later this month
One line: this is a better coat check, not a promise that nothing can go wrong, and $SUI apps now have to earn the deposits.
#Sui #Bitcoin
🧠 In plain words
Per CoinDesk, Hashi keeps your BTC locked in a vault on the Bitcoin network and issues a receipt token, hBTC, on Sui. It works like a coat check: your coat stays in the cloakroom, and the ticket in your hand is what you carry around. On Sui, that ticket can be used in lending and borrowing apps. Hand the ticket back, meaning burn the hBTC, and the original coins are released.
✅ What it means for you
• Your bitcoin never leaves its own chain, which removes a classic bridge risk
• You still depend on the vault's 2-of-2 multisig and the validators who sign it
• Launch liquidity starts with $500 million in partner commitments, with mainnet rolling out in phases later this month
One line: this is a better coat check, not a promise that nothing can go wrong, and $SUI apps now have to earn the deposits.
#Sui #Bitcoin