Hemi is a modular Layer 2 blockchain protocol that aims to bring together the best of both the Bitcoin and Ethereum ecosystems. According to the project’s website, Hemi’s architecture features the Hemi Virtual Machine which wraps an Ethereum style environment around a full Bitcoin node, thereby enabling smart contracts and decentralized applications to interface directly with Bitcoin’s state. The token HEMI is used for protocol governance, future transaction fees, and ecosystem incentives. On the market side, the circulating supply is approximately 977.5 million HEMI tokens out of a total supply of 10 billion. The 24 hour trading volume is in the tens of millions of USD and market cap is in the range of fifty to sixty million USD according to recent snapshots. The project also recently closed a growth funding round of US$15 million ahead of token launch, bringing total raised to about US$30 million. What makes Hemi interesting is the narrative: instead of treating Bitcoin and Ethereum as separate worlds, Hemi wants to unify them into a super network where Bitcoin’s security is paired with Ethereum’s programmability. For users and developers, this means possibilities like using native BTC collateral, smart contracts that know about Bitcoin transactions, or cross chain liquidity flows. Of course, as with any crypto infrastructure play, this comes with risk: adoption must follow, security must hold up, and token unlock schedules will matter. If you’re tracking infrastructure layer tokens, Hemi may be a project to keep on your radar.
