Hashi Coalition Commits More Than $500 Million to Sui Rollout

Hashi’s coalition has committed more than $500 million to the Sui-based protocol ahead of a phased mainnet rollout planned for later in October, though the figure does not show deposited Bitcoin. The coalition includes more than 20 partners. Hashi plans to bring its mainnet online in stages, but no exact launch date has been announced. Users send Bitcoin (BTC) to an address managed by Hashi. After the Bitcoin network confirms a deposit, Hashi creates a Sui-side BTC representation for use in Sui applications. Withdrawals burn that representation before BTC is returned to a Bitcoin address.

Source: TokenPost