Bitcoin L2 Hemi captures $260m TVL ahead of mainnet launch

While Bitcoin L2S has recently witnessed outing, a new protocol called Hemi has raised more deposits on its main private network.

Hemi, a bitcoin (BTC)) The layer 2 protocol founded by the developer of the early blockchain Jeff Garzik, has reached more than $ 260 million of total value locked before its main launch.

BTC L2S operates as enrollment connected to the Bitcoin blockchain. Protocols like Hemi, Core, Bitlayer and Stacks seek to unlock decentralized finances for BTC through the generation of debitage and generation of elements.

The data from the project explorer of the project showed an increase in deposits, including some 2,686 in liquid BTC derivatives and approximately 3,207 dominated in ether (Ethn) Salting of tokens.

This TVL will be deployed on the Dexes and HEMI loan protocols to provide liquidity of day one to facilitate trading, borrowing, jalitude and yield of agriculture for popular assets through Bitcoin and Ethereum ecosystems .

HEMI team

Hemi’s statements to increase user deposits have contrasted outings in the Bitcoin L2 landscape. Core, the dominant BTC L2, recorded a 12% TVL drop in last week, by Defilma data. Other market precursors, such as Bitlayer, Bsquared, Rootstock, Ailayer and Stacks, also noted a decrease in user sales while the markets have resisted a large correction.

The 260 million HEMI dollars reported by the team would classify the L2 among the five main space protocols. In particular, the funds were locked in the Private Mainnet of Hemi while the plans for a public launch of Mainnet Advanced. The team has not shared a provisional date for its launch.

The launch remains on the right track and the Testnet incentives will end shortly before the public launch of Mainnet. Once Mainnet live, the first cycle of incentives will start. The generation of tokens (TGE) is still planned for four to six weeks after the release of MAINNET.

Hemi blush