Sui Debuts Hashi Network With $500M Backing for Bitcoin-Based DeFi
Sui has launched Hashi, a mainnet network intended to let native Bitcoin serve as collateral in decentralized finance. The project comes with $500 million in committed capital. Hashi aims to connect Bitcoin holders with DeFi applications on Sui without wrapping BTC into another asset.
Sui has introduced Hashi, a Bitcoin-oriented network now live on mainnet. The project launched with $500 million in pledged capital, according to Cointelegraph. Its purpose is to let holders of BTC use the original asset as security for decentralized finance activity on Sui, rather than converting it into a different token on another chain.
Hashi is positioned as infrastructure linking Bitcoin owners with applications built in the Sui ecosystem. The stated design keeps BTC itself at the center of collateral arrangements. This separates it from models that rely on representations of Bitcoin elsewhere. The announcement frames the $500 million commitment as central to the launch.
The launch may affect Bitcoin holders seeking yield or borrowing options without selling their BTC, as well as Sui developers and DeFi users. If native BTC collateral works as intended, it could deepen links between Bitcoin's large holder base and newer DeFi ecosystems. Risks may include smart-contract, custody, and liquidation challenges, though the announcement does not detail safeguards. Broader society could see more financial experimentation, but also familiar crypto volatility and access barriers. Regulators and institutions may watch how such cross-ecosystem collateral develops.