Hemi Labs Launches Mainnet with $440 Million Total Value Locked
Hemi Labs launched its mainnet with a total value locked (TVL) of $440 million. The project, founded by Jeff Garzik, aims to unify Bitcoin and Ethereum into a "single supernetwork."
- Hemi combines Bitcoin's security with Ethereum's programmability.
- Raised $15 million in funding from Binance Labs last September.
- Aims to enhance decentralized finance (DeFi) by bridging Bitcoin and Ethereum.
- Bitcoin's coding lacks necessary functions for DeFi, such as smart contracts.
- Dozens of protocols are set to deploy on Hemi, including DEX Sushi and others.