• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Hemi protocol gathers over $260M before launch

user avatar

by A1

3 hours ago

Hemi, a Bitcoin layer-2 protocol, has attracted significant funding despite outflows in other protocols. The focus is on preparation for the mainnet launch.

Introduction to Hemi protocol

Hemi protocol, founded by early blockchain developer Jeff Garzik, has amassed over $260 million in total value locked ahead of its mainnet launch.

Operation and data

Bitcoin L2 protocols like Hemi, Core, and others aim to unlock decentralized finance for BTC through staking and yield generation. Hemi has garnered 2,686 liquid BTC derivatives and around 3,207 in ETH staking tokens.

This TVL will be deployed onto Hemi's DEXes and lending protocols to provide Day One liquidity to facilitate trading, borrowing, staking, and yield farming for popular assets across the Bitcoin and Ethereum ecosystems.

Future plans

Hemi has become one of the leaders in the space. The funds are currently locked in the private mainnet, while plans for a public mainnet launch advance. The team has not disclosed the launch date.

The launch remains on track, and the testnet incentives will conclude shortly before the public Mainnet launch. Once Mainnet is live, the first round of incentives will begin. The token generation event (TGE) is still planned for four to six weeks after the Mainnet release.

Hemi continues to attract funds to its protocol, maintaining its course to launch. This could strengthen its position in the Bitcoin L2 ecosystem despite market volatility.

0

Share

Other news

XRP Predictions and Crypto Market Insights Amid Uncertainty

Explore XRP predictions and analyze market sentiment amidst current volatility.

user avatarA1

a few seconds ago

Changpeng Zhao and His Pet: A New Meme Coin on the Horizon?

Changpeng Zhao spurred meme coin rumors after revealing his pet, a Belgian Malinois, igniting buzz in the crypto community.

user avatarA1

a few seconds ago

How CATZILLA Could Repeat PEPE's Success

An overview of CATZILLA's potential in the meme coin space with an analysis of PEPE's current price.

user avatarA1

a minute ago

World Liberty Financial Strengthens Stability with Strategic Reserve

WLFI unveiled a token reserve initiative supporting Bitcoin and Ethereum to stabilize the market.

user avatarA1

2 minutes ago

FBI Prevents Crypto Scam, Saving $285 Million

The FBI saved victims from losing $285 million to cryptocurrency scams.

user avatarA1

2 minutes ago

Meme Coins Updates: Arctic Pablo Coin, Floki Inu, and Shiba Inu Developments

The article explores recent developments of meme coins: Arctic Pablo Coin, Floki Inu, and Shiba Inu in the market.

user avatarA1

3 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.