Hemi Labs, the Bitcoin programability network founded by Jeff Garzik, has raised $ 15 million in funds to accelerate development and expand its ecosystem.
The round included Yzi Labs (previously Binance Labs)Digital Republic, Hyperchain Capital, Breyer Capital, Big Brain Holdings, Crypto.com and others, according to an announcement sent by email on Tuesday.
The company said the funds will admit loan, loan and negotiation requests in Bitcoin while further develop their HEMI virtual machine (HVM)A layer that embeds a bitcoin node within a VM Ethereum, the term for a decentralized system that can execute intelligent contracts and process transactions in Ethereum.
“Bitcoin does not need to be reinvented; he only needs the right tools around him,” said Garzik, who is one of Bitcoin’s first developers. “HEMI provides protocols to define a familiar way to build on Bitcoin, without requiring new skills, compromising security or sacrificing decentralization.”
HEMI now has more than 100,000 verified users and 400,000 community members. Its ecosystem of more than 70 partners includes Sushi, Layerzero, Metamask and Redstone. The total locked value has increased to $ 1.2 billion.
The increase follows the main debut of HEMI in March, which was launched with $ 440 million already committed.
The HEMI ecosystem includes Sushi, Layerzero, Metamask and Redstone. The closed total value has increased to $ 1.2 billion, HEMI said in the ad.
HEMI’s growth reflects a broader wave of Bitcoin Defi projects that seek to mobilize market capitalization of $ 2.3 billion BTC. Competitors such as Lombard, with their Token Liquk LBTC, and Bob, a hybrid chain that combines Bitcoin and Ethereum, are also building infrastructure to transform bitcoin of a passive value warehouse into an active component of decentralized finances.
