Botanix has a special blockchain named “Spiderchain,” where multiple nodes can safely secure Bitcoin by using multi-signature wallets. This eliminates the presence of a single administrator, providing safety as well as decentralization. Bitcoins deposited on Spiderchain are converted into “stBTC,” and its holders get a portion of transaction fees as rewards.
Alisia Painter, Co-Founder of Botanix Labs, said the collaboration shows that Bitcoin-based yields can be “reliable, scalable, convenient, and open to institutional investors around the world,” potentially accelerating adoption in sectors including finance.
Hinode’s focus on Bitcoin
Yasushi Teramura, CEO of Hinode Technologies, emphasized the company’s view of Bitcoin as a valuable business asset and its interest in expanding practical uses.
In February, Gumi, a Japanese mobile gaming company, purchased 1 billion yen ($6.6 million) worth of Bitcoin to strengthen its position in the Web3 and blockchain space, with plans to earn additional revenue by staking the holdings through the Babylon protocol.
“Botanix is a pioneering project that will expand the use cases of BTC, and we look forward to exploring business opportunities together in Japan,” Teramura added.
Based in Tokyo, Hinode Technologies focuses on blockchain infrastructure and plans to support Web3 development through node operations and future cryptocurrency-related services, including accounting management systems.