Hemi Secures $15 Million in Funding to Build a Programmable Layer on Bitcoin
Hemi, an innovative project, has successfully closed a $15 million funding round, bringing its total capital raised to $30 million. This round was led by YZi Labs, with significant contributions from HyperChain Capital, Breyer Capital, Big Brain Holdings, Crypto.com, DNA Fund, Selini Capital, Protein Capital, Quantstamp, and Web3.com Ventures.
Bridging Bitcoin and Ethereum for Enhanced Functionality
The funding will accelerate the development of a network that merges Bitcoin's unparalleled security with Ethereum's smart contract capabilities. This aims to support ecosystem expansion and token generation, enabling more complex operations like lending and asset portfolios through a cross-chain "tunneling" system and a proof-of-stake consensus mechanism.
At the heart of this initiative is the Hemi Virtual Machine (hVM), which embeds a full Bitcoin node within the Ethereum Virtual Machine (EVM). Co-founder Jeff Garzik, an early Bitcoin core developer, emphasizes that Bitcoin doesn't need a structural overhaul but rather tools to fully realize its potential.
Growing Community and Strategic Partnerships
Hemi boasts a user base of over 100,000 verified individuals and a community of 400,000 members. The platform has integrated or partnered with more than 70 projects, including LayerZero and MetaMask, showcasing its broad appeal and utility.
Future plans include the launch of mobile apps and a decentralized finance (DeFi) wallet by late 2025, positioning Hemi to become the largest cross-blockchain exchange.
Tokenomics and Incentives
The Hemi token (HEMI) has a total supply of 10 billion tokens, with 2.5 billion allocated for pre-sales and 1 billion for a community airdrop. The airdrop, scheduled for May 21, 2025, will reward participants with 100 HEMI tokens each, complemented by an invitation system for additional rewards.
The pre-sale, set to occur simultaneously, offers 1 ETH equivalent to 200,000 HEMI tokens. A portion of the funds will be used for listing on major exchanges like Binance and Huobi, with 80% allocated for liquidity provision to prevent dumping.
With strategic funding and a vision to bridge Bitcoin and Ethereum, Hemi is poised to lead in the evolving blockchain landscape.
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