Sui Ecosystem Bitcoin Financial Platform Hashi Testnet Officially Launches

TechFlow News, July 23: According to official announcements, the Sui ecosystem Bitcoin financial platform Hashi testnet has officially launched. Having first debuted in March, Hashi aims to provide a new way for BTC: utilizing value on Sui without leaving the Bitcoin network. Hashi transforms dormant BTC into secure, programmable collateral assets for institutional-grade lending, financing, and credit operations, with all actions verifiable on-chain. Developers can now access the Hashi testnet to build and stress-test Bitcoin-collateralized financial applications.

Coinciding with the testnet launch, Guardian Layer is officially released. As Hashi's new defense-in-depth risk management mechanism, Guardian Layer is dedicated to ensuring all BTC collateral assets are protected using 2-of-2 multi-signature: one signature from Hashi validator nodes, and the other from Guardian.

Currently, Hashi has 25+ launch partners, among which initial partner Wave Digital Assets has committed to bringing Bitcoin yield bond products on-chain through Hashi within the next three years. Additionally, Hashi has obtained a legal opinion from Fenwick West, stating that Hashi's deposit/redemption mechanism should not constitute a taxable event under U.S. law.