AMPLIFICATION ONLY — ADAM BACK GOES 10 X-WINDOWS WITH NO ORIGINAL FRAMING. THE TAPE IS DOING THE ARGUING.

Sui Foundation and Mysten Labs launched the Hashi testnet, which lets applications use native Bitcoin as collateral for DeFi lending without wrapping it into a synthetic token. Twenty-five-plus applications have signed on. Bitcoin holders can post BTC directly as collateral for a loan on Sui, then receive it back when the loan closes. The Technologist read is not about Sui specifically. It's about the mechanism. Every time a project builds a way to use Bitcoin without wrapping it, the Maximalist argument gets a cleaner victory in the market. The old model was: wrap Bitcoin into an ERC-20, deploy on Ethereum, hope the custodian holds. The new model — trust-minimized bridges, native BTC collateral, no custodian in the middle — reflects a decade of learning what people don't want to give up. Bitcoin as money that stays Bitcoin, even while it earns yield elsewhere.