Key Takeaways:
- Hemi Labs launches mainnet with $440M in total value locked (TVL), backed by Binance Labs.
- Bridges Bitcoin and Ethereum, combining Bitcoin’s security with Ethereum’s programmability for DeFi.
- Growing ecosystem, with projects like Sushi, pumpBTC, RedStone, and Pyth committed to launching.
Hemi Labs, a modular blockchain backed by Binance Labs, has launched its mainnet with $440 million in total value locked (TVL).
Co-founded by early Bitcoin developer Jeff Garzik, Hemi aims to unify Bitcoin and Ethereum into “a single supernetwork,” combining Bitcoin’s security with Ethereum’s programmability.
Welcome to Hemi mainnet!
— Hemi (@hemi_xyz) March 12, 2025
Today’s milestone comes with $440M in TVL (incl. $285M on our staking platform), and more than active 50 ecosystem partners!
One Network, Powered by Bitcoin & Ethereum.
Learn more. ⤵️https://t.co/O0QqaJmUA5 pic.twitter.com/1qyJlTYLhk
The project raised $15 million in a Binance Labs-led funding round last September and is one of several initiatives working to integrate Bitcoin into decentralized finance (DeFi).
While Bitcoin is the largest store of value in crypto, it lacks native support for smart contracts and zero-knowledge proofs—both key elements for DeFi applications.
Hemi addresses this by enabling interoperability with Ethereum.
A growing number of protocols have committed to launching on Hemi, including decentralized exchange (DEX) Sushi, liquid staking token pumpBTC, and oracle providers RedStone and Pyth.
By fostering better connectivity between Bitcoin and Ethereum, Hemi seeks to reshape the broader blockchain landscape and unlock new opportunities for DeFi.
With its mainnet now live, Hemi joins the push for greater blockchain interoperability, aiming to bridge the gap between the world’s two largest crypto networks.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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