Hemi will collaborate with Concrete on lending.

TL;DR: Hemi is collaborating with Concrete, a cross-chain lending protocol, to enhance the BTCFi ecosystem. Concrete is a supercharged lending protocol that, in addition to classical lending and borrowing, enables users to create lending strategies and maintains liquidity through receipt tokens usable across Hemi’s dApps.

Hemi has announced a new collaboration with Concrete, a leading lending protocol deploying on Hemi. Known for creating tailored lending vaults across multiple blockchains, Concrete brings a powerful addition to the Bitcoin Financial (BTCFi) ecosystem, supporting Hemi’s mission to enhance yield and liquidity opportunities in the BTC L2 space.

Concrete empowers users to execute specific lending strategies much like HyperLiquid’s approach to trading, but focused on lending. By issuing receipt tokens for deposited assets, Concrete allows users to lend assets and still access liquidity across other decentralized applications on Hemi. This integration provides a dynamic way for users to benefit from Concrete’s high-yield lending while seamlessly interacting with Hemi’s wider ecosystem.

To incentivize this collaboration, Hemi will award Hemi points to Concrete users on the platform, while Concrete will provide Concrete points to Hemi users who engage with their lending vaults. With the backing of a mutual investor, SALT, both Hemi and Concrete are committed to driving forward innovative solutions within the BTCFi space.

Through this collaboration, Hemi and Concrete aim to offer an advanced BTCFi ecosystem with flexible lending and yield-generation options, enhancing user opportunities and strengthening overall liquidity across Hemi’s BTC Layer 2.