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BTC 
SUI Sui's Hashi will implement native Bitcoin as collateral, and the Global Test Network is about to launch
Sui blockchain is advancing its decentralized financial (DeFi) ecosystem with a new lending primitive called Hashi. This primitive allows users to deposit native Bitcoin as collateral without the need for encapsulation or bridging. According to an announcement on Platform X, the Global Test Network is about to be launched, marking an important step in integrating Bitcoin into Sui's lending infrastructure.
Addressing institutional concerns about encapsulating bitcoin
The announcement highlights a key pain point for institutional investors: the lack of trust in bridging or encapsulating bitcoin. Traditional methods of using Bitcoin in DeFi often involve encapsulating assets, which introduces counterparty risk and centralization issues. Hashi aims to solve this problem by retaining Bitcoin directly on Sui in a verifiable and controllable on-chain form, thereby eliminating the need for intermediate tokens.
This approach could free up liquidity for a large number of bitcoin holders who had previously hesitated to participate in DeFi due to security and trust issues. By allowing native BTC as collateral, Hashi positions himself as a bridge between the largest cryptocurrency by market value and the growing Sui DeFi ecosystem.
What does Hashi bring to Sui's lending landscape
Hashi is designed as a lending primitive, which means it provides the basic infrastructure for lending activities on Sui. Although the specific details of interest rates, clearing parameters and backed assets have not been announced before testing the online launch, its core value proposition is clear: Bitcoin collateral that does not require encapsulation.
This development is in line with the broader industry trend of providing unmanaged, trust-minimizing solutions for Bitcoin applications in DeFi. Projects such as Rootstock and Stacks have explored similar concepts, but the integration of Hashi with Sui, a first-level blockchain known for its high throughput and low fees, could provide a competitive advantage in terms of speed and cost efficiency.
Impact on Sui ecosystem and DeFi growth
For Sui, the introduction of native Bitcoin collateral may attract a new wave of users and liquidity, thereby consolidating its position in the DeFi space. The move also responds to a common criticism of DeFi that traditional Bitcoin holders have difficulty participating because of their preference to avoid encapsulating assets. By lowering this threshold, Hashi may encourage more retail and institutional investors to participate.
The testnet phase will be critical for stress testing of the system's security, scalability and user experience. If successful, Hashi could become a key driver of Sui DeFi adoption and is expected to compete with other mature lending platforms on the chain.
Conclusion
Hashi's upcoming testnet on Sui is an important step in the development of DeFi's infrastructure, specifically targeting institutions 'needs for native Bitcoin collateral. By eliminating the need for encapsulation, Hashi solves the trust gap that limits Bitcoin's participation in decentralized lending. The success of TestNet will determine whether the solution can deliver on its promise of providing verifiable, controllable and secure use of Bitcoin on-chain.
Frequently Asked Questions
Question 1: What is Hashi on Sui?
Hashi is a lending primitive built on the Sui blockchain that allows users to deposit native Bitcoin as collateral without the need for encapsulation or bridging. It aims to provide a verifiable and controllable on-chain form of Bitcoin for DeFi lending.
Question 2: Why is native Bitcoin collateral important?
Many institutional investors and Bitcoin holders are cautious about encapsulating or bridging Bitcoin due to counterparty risk and centralization issues. Native Bitcoin collateral eliminates these risks, making DeFi lending more accessible and trustworthy.
Q3: When will Hashi be online?
According to Sui's announcement on the X platform, Hashi's global testnet is about to launch. A specific date has not been announced, but the beta phase is expected to begin soon, allowing users to test the system before the mainnet goes live.
