While Bitcoin L2S recently saw the outflow, a new protocol called Hemi received a higher deposit on its private mennet network.
Hymi, a bitcoin (BTC) layer -2 protocol installed by the initial blockchain developer Jeff Garzic, has achieved more than $ 260 million in the total value before its maintenance launch.
The BTC L2S acts as sidechains associated with the blockchain of bitcoin. Protocols such as Hemi, Core, Bitleir, and Stack want to unlock decentralized finance to BTC through stacking and yield generation.
The data of the project’s country explorer showed an utogic in the deposit, with some 2,686 in liquid BTC derivatives and about 3,207 dominating in Ether (ETH) stacking tokens.
This TVL will be deployed on Hemi dex and borrowed protocol to provide day liquidity for business, borrowing, staking and farming facilities for popular assets in bitcoin and atherium ecosystems.
Hemy team
Bitcoin L2 outfits unlike the claims of HeMi to deposit the user in the landscape. Core, leading BTC L2, has fallen by 12% per TVL per last week, per defilate dataOther markets such as Bitleir, BSQUARED, Rootstock, Ailayer, and Stacks were also mentioned that the user remained reduced because the markets made a widespread improvement.
Hemy’s $ 260 million report reported by the team will rank L2 in the top five protocols in space. In particular, the fund was closed in Hemy’s private mennet, while a public mannet launch plan was advanced. The team has not shared a temporary date for its launch.
The launch remains on the track, and the Testnet incentive will end shortly before the public menet launch. Once the mennet is live, the first round of incentive will begin. The token generation event (TGE) has still been planned for four to six weeks of menet release.
Hemie Blog
