Blockchain/Tech
Launch of Hemi Network's $440 Million Mainnet Aims to Integrate Bitcoin and Ethereum
Hemi Labs introduces a new mainnet with a total value locked of $440 million, striving to unify Bitcoin and Ethereum into a single network.
1 min read
Summary
Hemi Labs has launched its mainnet featuring a total value locked (TVL) of $440 million. This new blockchain project aims to merge Bitcoin and Ethereum to create a unified network framework.
Key Information:
- Hemi’s mainnet showcases a total TVL of $440 million.
- The objective is to unify Bitcoin and Ethereum into a comprehensive network (termed a supernetwork).
- Hemi leverages the security of Bitcoin alongside the programmability features of Ethereum.
Highlights:
- The project has received funding of $15 million led by Binance Labs.
- Over a dozen protocols have committed to utilizing Hemi, including decentralized exchange (DEX) Sushi, liquid staking token pumpBTC, and oracles RedStone and Pyth.
Additional Context
Although Bitcoin is a leading cryptocurrency, it lacks native features such as smart contracts necessary for decentralized finance (DeFi). Hemi’s integration brings the programmability of Ethereum into Bitcoin’s security framework.
Stay tuned for more insights regarding the evolution of the blockchain landscape!
