Hemi Labs, the Bitcoin programmability network founded by Jeff Garzik, raised $ 15 million in funding to accelerate development and extend its ecosystem.
The round included Yzi Labs (Formerly Binance Labs)Republic Digital, Hyperchain Capital, Breyer Capital, Big Brain Holdings, Crypto.com and others, according to an announcement by email on Tuesday.
The company said that funds will support loan, loans and negotiation requests on Bitcoin while developing its HEMI virtual machine (HVM)A layer that incorporates a bitcoin node into an Ethereum VM – the term for a decentralized system that can execute intelligent contracts and treat transactions on Ethereum.
“Bitcoin does not need to be reinvented; he just needs the right tools around him,” said Garzik, who is one of the first Bitcoin developers. “HEMI provides protocols DEFI with a familiar way to rely on bitcoin, without requiring new skills, compromising security or sacrificing decentralization.”
Hemi now has more than 100,000 verified users and 400,000 members of the community. Its ecosystem of 70 partners plus includes sushi, coulters, metamask and redstone. The total locked value is climbed to $ 1.2 billion.
The increase follows its main hemi debut in March, which was launched with $ 440 million already committed.
Hemi’s ecosystem includes sushi, diapers, metamasque and redstone stone. The total locked value is climbed to $ 1.2 billion, Hemi said in the announcement.
Hemi’s growth reflects a wider wave of Bitcoin DEFI projects seeking to mobilize market capitalization of 2.3 billions of dollars of BTC. Competitors like Lombard, with its LBTC token with liquid stake, and Bob, a hybrid chain combining Bitcoin and Ethereum, also build infrastructure to transform the bitcoin of a passive store of value into an active component of decentralized finances.
