Hassan Maishera
On Thursday, the Sui Foundation announced via a blog post that Hashi, a decentralized primitive built to unlock capital efficiency for trillions of dollars of idle BTC holdings, has launched on the Sui blockchain.
Ahead of its full release, Hashi has already secured commitments to build from crypto’s largest institutional players, including BitGo, Bullish, Erebor Bank, FalconX, Ledger, Fordefi and Sui’s key financial protocols, including AlphaLend, Navi, Scallop, and Suilend.
Hashi will allow institutions and retail participants who hold BTC to be able to earn yield on their assets; lend and borrow against their BTC while opening the doors for builders to create new offerings for both institutional and retail customers.
Lending will be the primary use case at launch, allowing BTC to be lent or borrowed against stablecoins while Hashi automates its cross-chain asset movement.
Lastly, builders using Hashi as a primitive are free to innovate other use cases besides lending, including credit origination and enhanced reward-generating opportunities they can offer directly to institutions and retail participants.
Sui is a Layer 1 blockchain designed to provide top-notch developer and user experiences backed by robust technological foundations. It is a groundbreaking layer-1 blockchain platform designed to support the needs of global adoption by offering a secure, powerful, and scalable development platform. At its core, Sui leverages a novel object-centric data model and the secure Move programming language to address inefficiencies prevalent in existing blockchain architectures.
On top of strong technical foundations, Sui prioritizes user experience by eliminating barriers commonly associated with blockchain interactions. Through innovations like zkLogin, sponsored transactions, and programmable transaction blocks, Sui creates a higher standard for user experience within Web3 by ensuring applications are accessible and user-friendly.
Sui’s innovative architecture offers low-latency transactions with stable transaction fees, high throughput through horizontal scaling and parallelized execution, and empowers developers with powerful capabilities and tools to craft the next generation of Web3 applications.
At the heart of Sui's uniqueness lies its object-oriented design, offering a new way of developing on blockchain. Offering powerful capabilities in a way that ensures deep composability with important developer and user safety measures. As everything on Sui is an object, the ability to define object types allows developers to create objects tailored to their application needs with inherent network-wide compatibility. This changes how assets and protocols can work together to create greater products with broad composability.
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