The Hemi project has raised 30 million USD to develop a network that combines Bitcoin security with Ethereum's smart contract capabilities.
The new funding round of 15 million USD focuses on expanding the ecosystem and perfecting the Token features, helping Hemi realize the integrated Virtual Machine model of Bitcoin and EVM.
MAIN CONTENT
Hemi has raised a total of 30 million USD from major investors.
Hemi Virtual Machine integrates a Bitcoin node into EVM, expanding financial functionality on Bitcoin.
The project has over 100,000 verified users and collaborates with more than 70 reputable projects.
How did Hemi raise capital and which investors participated?
Hemi completed a 15 million USD funding round, raising the total capital to 30 million USD, led by YZi Labs, Republic Digital, and HyperChain Capital.
The investment round also included contributions from Breyer Capital, Big Brain Holdings, Crypto.com, DNA Fund, Selini Capital, Protein Capital, Quantstamp, and Web3.com Ventures. This capital will be used to promote network development and expand the ecosystem, while also preparing for upcoming Token issuance activities.
The scale of investment and the diversity of investors show confidence in Hemi's application potential in the integrated technology field between Bitcoin and smart contracts.
How does Hemi's technology system work and what are its highlights?
The core of Hemi is the Hemi Virtual Machine (hVM) that allows embedding a full Bitcoin node into the Ethereum Virtual Machine (EVM), creating a unique cross-chain link.
Through the use of a proof-of-stake consensus mechanism and cross-chain 'tunneling' technology, hVM allows financial activities such as lending or asset portfolio management to operate on Bitcoin, which previously faced limitations in interacting with smart contracts.
Co-founder Jeff Garzik, who participated in the development of Bitcoin from its early days, emphasizes that Bitcoin does not need restructuring; it needs supportive tools to harness the potential of the network.
What is the scale of community and collaboration for the Hemi project?
Currently, Hemi has over 100,000 verified users and a community network of up to 400,000 members, demonstrating significant interest and practical application.
The project has collaborated or integrated with over 70 prominent projects in the industry such as Sushi, LayerZero, and MetaMask, facilitating diverse development and extensive technological links.
The diversity of partnerships and a large user base provide Hemi with a solid foundation to continue expanding its scale and applications in the near future.
“Bitcoin does not need to change its core structure; what is more important is to build supportive tools to harness its potential.”
– Jeff Garzik, Co-founder of Hemi, 2024
Frequently Asked Questions
How much capital did Hemi raise and from where?
Hemi has raised a total of 30 million USD, with the recent funding round of 15 million USD led by YZi Labs, Republic Digital, and HyperChain Capital.
What is the Hemi Virtual Machine?
hVM is the platform that integrates a full Bitcoin node into the Ethereum Virtual Machine, allowing smart contracts to operate on Bitcoin.
Which projects has Hemi collaborated with?
The project collaborates with over 70 partners such as Sushi, LayerZero, and MetaMask, creating a vast interconnected network.
What is the scale of Hemi users?
Hemi has over 100,000 verified users and about 400,000 community members.
What is Hemi's capital utilization plan?
Capital will focus on developing the network, expanding the ecosystem, and preparing for Token issuance activities.
Source: https://tintucbitcoin.com/hemi-huy-dong-15-trieu-usd-tu-yzi-labs/
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