Merging the powers of the world’s leading and largest blockchains, Bitcoin and Ethereum, Hemi is here to unlock the full potential of BTCfi and unite both $BTC and $ETH maxis into one ecosystem.
Have your coffee in hand, or bookmark this for later, because it’s time for another deep dive!
What is Hemi?
Hemi is a layer 2 network that was founded in 2023 by two blockchain veterans, Jeff Garzik (former Bitcoin core dev) and Max Sanchez (inventor of the Proof-of-Proof consensus mechanism).
Their mission is simple: supercharge Bitcoin DeFi.
In comparison to other Layer 2s, which focus on either just Bitcoin or Ethereum, the Hemi network boasts that they are the first and only protocol to connect $BTC and $ETH at the core with its super-network infrastructure.
How have Hemi brought these two giants together?
How Does Hemi Work?
The Hemi Virtual Machine (hVM), a full Bitcoin node wrapped inside an Ethereum Virtual Machine (EVM). Together, they form the Hemi network, a fully interoperable ecosystem unlocking new levels of programmability and potential for Bitcoin DeFi and an AI-driven future.
Harnessing the powers of both networks, Hemi has Bitcoin-grade security, Ethereum-grade DeFi and a native Hemi Building Kit (hBK) for developers to build next-level dApps powered by native $BTC.
Hemi stands at the core of both Bitcoin and Ethereum, and creates a harmonious connection, unlocking seamless asset transfers between networks, yield opportunities, and so much more.
Hemi Ecosystem
Home to a powerful BTCfi ecosystem, Hemi has over 90 integrated and natively built protocols. From go-to liquidity protocols such as Stargate Finance to leading DEXs like Uniswap, it has everything a $BTC or $ETH maxi would ever need.
When it comes to the stats, the figures speak for themselves. In such a short time, they’ve amassed over $1.2B in TVL, over 570K users and facilitated 7.3M+ Bitcoin-secured transactions! BTCfi is brewing up, and it’s all happening on Hemi…
$HEMI Airdrop
Very recently, $HEMI was placed into the hands of many loyal and early network users via an airdrop, and since its launch, $HEMI has performed considerably well. $HEMI is the native token of the ecosystem that is currently only a governance token, with future plans to become a gas token!
Conclusion
According to CoinMarketCap, at the time of writing, the $HEMI token is trading at $0.1052 with a market cap of $102.83M. Not long ago, $HEMI achieved an ATH of $0.1926, and is currently down due to market conditions. Despite the rough market, $HEMI is still up 281.29% and could very well surge once again, and break its previous ATH…
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Disclaimer
The content provided in this article is purely informational and nothing said is financial advice. Proceed with caution and always invest what you are prepared to lose. Remember that you are entirely responsible for your assets and investments and the author and the publication do not endorse any of the cryptocurrencies, protocols and/or strategies in this article.
