Sui ecosystem Bitcoin finance platform Hashi testnet officially goes live

Deep Tide TechFlow message. On July 23, according to official announcements, the Sui ecosystem Bitcoin finance platform Hashi testnet has officially gone live. Previously, in March, Hashi first appeared, aiming to provide BTC with a brand-new way to create value: without leaving the Bitcoin network, it can be utilized on Sui. Hashi converts dormant BTC into secure, programmable collateral assets for institutional lending, financing, and credit businesses, and all operations are verifiable on-chain.

Developers can now connect to the Hashi testnet to build and stress-test financial applications using Bitcoin as collateral.

With the testnet launch, Guardian Layer has officially been released as Hashi’s new layered, in-depth risk management mechanism. Guardian Layer is committed to protecting all BTC collateral assets using 2-of-2 multisignatures: one signature comes from Hashi validator nodes, and the other comes from Guardian.

At present, Hashi already has 25+ launch partners. Among the first batch of partners, Wave Digital Assets has pledged that over the next three years, it will bring Bitcoin yield-bond products on-chain via Hashi. In addition, Hashi has obtained a legal analysis opinion issued by Fenwick West, which holds that Hashi’s deposit/redemption mechanism should not constitute a taxable event under U.S. law.

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