Overview
Hemi Network is emerging as a groundbreaking modular Layer 2 solution that seamlessly connects Bitcoin and Ethereum. By leveraging innovative technologies like the hVM architecture and Proof-of-Proof consensus, Hemi combines Bitcoin’s security with Ethereum’s smart contract flexibility. Since its mainnet launch, Hemi has attracted over $100M in TVL and secured investments from top-tier firms like YZi Labs and Breyer Capital.
Key Features
1. Dual-Chain Architecture
- EVM Compatibility: Full support for Ethereum developers, enabling dApps to interact with both BTC and ETH.
- Bitcoin Integration: Embedded Bitcoin full node within hVM allows direct access to Bitcoin’s state.
2. Proof-of-Proof Consensus
- Security: Anchors L2 block states to Bitcoin’s blockchain via PoP miners, achieving "Bitcoin-level" finality in ~90 minutes.
- Decentralization: Lightweight PoP mining enables users to earn rewards without relying on Bitcoin miners.
3. Trustless Cross-Chain Bridges
- Tunnels Mechanism: Facilitates secure asset transfers between Bitcoin and Ethereum, eliminating reliance on centralized bridges.
Team & Backers
Core Team
- Jeff Garzik: Early Bitcoin Core developer and Bloq CEO.
- Maxwell Sanchez: Pioneer of PoP consensus and blockchain security.
Investors
- $15M Seed Round led by YZi Labs (ex-Binance Labs) and Breyer Capital.
- Backers include Crypto.com Capital, Alchemy Ventures, and industry leaders like Jihan Wu.
On-Chain Metrics
- TVL: ~$300M (excluding liquid staking assets).
Top Protocols:
Protocol TVL Pell Network $177M iZUMi $61.44M Uniswap $21.46M
Ecosystem Growth
Hemi hosts 50+ dApps across DeFi, NFTs, and cross-chain communication, including:
- DEXs: Uniswap, SushiSwap.
- Lending: LayerBank, ZeroLend.
- LSTs/LRTs: pumpBTC (Bitcoin staking), StakeStone (Ethereum staking).
Token Launch (TGE)
- Status: Expected 4–6 weeks post-mainnet (estimated late April–May 2024).
- Community Focus: Reward mechanisms for early contributors via point systems.
👉 Track Hemi’s TGE updates here
FAQs
Q1: How does Hemi ensure security?
A1: Through PoP consensus, which periodically validates L2 states on Bitcoin’s blockchain.
Q2: Can I stake BTC on Hemi?
A2: Yes! Protocols like pumpBTC offer Bitcoin staking derivatives.
Q3: Is Hemi EVM-compatible?
A3: Absolutely—developers can use existing Ethereum tools to build on Hemi.
Q4: What makes Hemi unique?
A4: Its dual-chain approach bridges Bitcoin’s liquidity with Ethereum’s DeFi ecosystem.
Hemi Network is poised to redefine cross-chain interoperability with its modular design and robust partner ecosystem. Stay tuned for TGE updates!