Sui's Hashi Testnet Processes Over 1.1M Bitcoin Deposits in Three Weeks

Sui's Hashi testnet, a bitcoin lending protocol, has processed over 1.1 million Bitcoin deposits and 165,000 withdrawals since its launch on July 22.

This significant volume indicates strong interest in using native BTC as collateral without wrapping it into another asset.

The system secures deposits with a multisig setup and uses a Guardian Layer for withdrawal security to reduce risks seen in wrapped BTC bridges.

Sui is aiming to tap into the $1.4 trillion Bitcoin lending market by providing a more secure alternative to traditional lending protocols.