Hemi, a Bitcoin layer-2 protocol founded by Jeff Garzik, has accumulated over $260 million in total value locked (TVL) on its private mainnet network ahead of its public launch. Hemi aims to unlock decentralized finance for Bitcoin through staking and yield generation. In contrast to other Bitcoin L2 protocols experiencing outflows, Hemi has seen an increase in user deposits. The funds locked in Hemi's private mainnet would rank the protocol among the top five in the space. The public mainnet launch date has not been announced yet, but the team plans to conclude testnet incentives shortly before the launch.



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