Bitcoin DeFi Has Been Elusive. Can Mysten Labs Bring $1.4 Trillion Onchain?

Mysten Labs' Adeniyi Abiodun introduces Hashi, a decentralized method for using native Bitcoin in DeFi, aiming to make Bitcoin a more accessible collateral instrument. Hashi allows Bitcoin holders to lend their assets without needing wrappers or creating taxable events. By locking Bitcoin into an MPC wallet on its native network, users can originate loans on the SUI blockchain, mint stablecoins, and fund balance sheets. This system uses SUI network validators to manage security and is backed by institutional insurance to protect against DeFi losses. Hashi seeks to overcome the limitations of wrapped Bitcoin by offering a trust-minimized, decentralized, and insured platform, targeting institutions and broadening Bitcoin's use in DeFi beyond the current 1% coverage.