Hashi Mainnet Launches This Month With $500M in Committed Capital
Sui's native Bitcoin finance layer goes live in a phased rollout with more than 20 launch partners, now including Anchorage Digital.
Hashi, Sui's native Bitcoin finance infrastructure, will go live on mainnet this month. It launches with more than $500 million in capital commitments, the team announced at Sui Basecamp on October 8.
What Hashi does
Hashi is built to make native Bitcoin productive collateral on Sui. According to the launch announcement, BTC holders will be able to borrow against their Bitcoin without selling it, supply it to onchain credit markets, deploy it into automated vault strategies, and access structured products, real-world assets and Bitcoin-backed bonds.
The committed capital will sit in vaults run by Hashi vault providers, including Aftermath, Concrete and Fluid. That means lending, credit and vault apps start with liquidity already in place instead of building it from zero.
Who is involved
Anchorage Digital, which runs the first federally chartered crypto bank in the U.S., is the newest day-one partner. It will give its institutional clients access to Hashi and bring more stablecoin liquidity. The coalition now has more than 20 partners, including BitGo, Bullish, Cumberland, FalconX and Ledger.
The rollout is phased and starts this month. The announcement says the move from devnet and testnet to mainnet ends at the close of October. Sui has not published a day-by-day schedule.
Context
Hashi arrives with Sui DeFi in a consolidation phase. DefiLlama currently tracks total value locked on Sui at about $502 million. On Suiscan, the largest DeFi protocols by TVL are NAVI Protocol (about $169 million) and Suilend (about $165 million), followed by SpringSui, Current and Haedal. On the trading side, Bluefin, Cetus and Turbos lead the top SUI/USDC pools by volume.
If even part of Hashi's $500 million in commitments arrives as deposits, it would be large compared with Sui's current TVL. Commitments are not deposits, though, and SuiWire will track onchain balances as vaults open.
Institutions can reach the team at hashi@sui.io. Details are at sui.io/hashi.
Sources
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