Hemi Network, a Bitcoin Layer-2 network, today announced a strategic collaboration with Owlto Finance, a decentralized cross-rollup bridge designed for Layer-2 solutions. This partnership is a mutual relationship as it aims to benefit the strength of these two companies. For Hemi Network, this alliance marks an important move that enables it to expand its transaction services and interoperability capability within the broader on-chain Layer-2 ecosystem. For Owlto Finance, it leverages this partnership to widen its network growth and user adoption.
Hemi Network is a Layer-2 network aiming to unlock the value of Bitcoin for DeFi applications. On the other hand, Olwto Finance is a decentralized cross-rollup bridge with specialized expertise in facilitating the transfer of assets between different Layer-2 networks. It runs a cross-rollup bridge, which is recognised for its safety, speed, cost-efficiency, and user-friendly interface. By simplifying trade (transaction) processes across various L2 solutions, Owlto plays an essential role in making DeFi transactions more effective and accessible.
Hemi Integrates Owlto’s Cross-Rollup Bridge
The core of this partnership is the integration of Owlto’s cross-chain infrastructure into Hemi’s Bitcoin DeFi network. Hemi’s adoption of Owlto’s cross-chain architecture enables assets to exist natively across several blockchains. With this incorporation, Owlto’s technology allows Hemi’s broad range of BTC-native assets and encrypted applications to circulate safely, quickly, and cost-efficiently between the Hemi blockchain and interoperable Layer-2 networks, helping its Bitcoin DeFi ecosystem develop rapidly.
Hemi selected Owlto Finance because Owlto’s interoperability protocol is widely recognized for its success and effectiveness. Owlto’s cross-rollup bridge is renowned for its rapid-processing speed, advanced security, cost-friendliness, and user-friendly interface features.
Also, as highlighted above, this integration is crucial for Owlto as it uses it to widen its presence in the decentralized environment and reach a broader global Web3 audience.
Hemi Leverages Owlto’s Bridge to Unlock Liquidity, Expand BTC’s Utility
As the DeFi landscape continues to advance, the collaboration between Hemi Network and Owlto Finance sets the foundation for a more interlinked, responsive ecosystem that enables safe, trustless asset transfers between Bitcoin, Ethereum, and other chains. By infusing their unique tech capabilities, the two companies are laying the groundwork for a more efficient and enriching DeFi.
Bitcoin has long been considered a store of value rather than a versatile token for DeFi. However, with the partnerships made by players like Hemi and Owlto, BTC holders can now effectively participate in decentralized finance ecosystems across numerous chains. Hemi uses a cross-chain bridge powered by Owlto to unlock liquidity and broaden Bitcoin’s application beyond ordinary transactions and as a store of value.
This cross-chain functionality is important for the growth of DeFi as it allows tokens like Bitcoin, which runs in its own mainnet, to participate in DeFi utilities on other chains like BNB, Tron, and many others, unleashing new opportunities for yield generation, borrowing, lending, etc.
Without such a bridge, BTC remains locked out of advancement. Owlto’s cross-chain bridge connects Hemi with other blockchain networks, allowing funds to move seamlessly and paving the way for a new phase in DeFi where BTC is no longer a passive token but a proactive participant.
