Project Introduction:
Hemi Network is a modular L2 network that facilitates Ethereum smart contract functionality secured by the Bitcoin network. The chain introduces the Hemi Virtual Machine (hVM), which integrates a full Bitcoin node in the Ethereum Virtual Machine (EVM), Ethereum's core smart contract engine. HVM allows developers to create smart contracts that interact with the Bitcoin state, unlocking Bitcoin-based DeFi applications, including staking, lending markets, and democratized MEV markets.
Financing:
Hemi Labs completed a $15 million financing round, led by Binance Labs, Breyer Capital and Big Brain Holdings, with participation from Crypto.com, HyperChain Capital, Alchemy, SALT Fund, Kelly Capital, Sunflower Capital, DNA Fund, Web3 Ventures, Quantstamp, TRGC, UTXO, Artichoke Capital, SNZ Holding, Capital6, IBG Capital, Protein Capital, MON Ventures, SV5, Impossible Finance, Jihan Wu (BitDeer) and George Burke (Portal).