Question 1

What is HEMI?

Accepted Answer

HEMI is the native token of the Hemi network. Hemi is an EVM-compatible network: its hVM integrates Bitcoin full-node capabilities into the EVM environment, allowing smart contracts to use more granular Bitcoin on-chain state; applications built for these dual-network capabilities are called hApps. Therefore, HEMI is neither Bitcoin itself nor Ethereum itself, but the native asset in Hemi's participation, incentive, and fee system. The network design also settles by publishing state to Ethereum and publishes Hemi consensus information to the Bitcoin chain through Proof-of-Proof (PoP).

Question 2

How does HEMI function in the network?

Accepted Answer

HEMI serves as the native unit of account for participation and incentives in the Hemi network. The whitepaper describes that Publishers, which publish Hemi data to Ethereum, must stake a sufficient amount of native tokens and compete for protocol rewards; if a Challenger uses a fraud proof to determine that a publication is invalid, part of the stake is burned by the protocol and the remainder is awarded to the successful challenger. In the PoP stage, Pop Miners publish Hemi consensus information to the Bitcoin chain and must pay Bitcoin transaction fees; the protocol pays successful participants rewards in the native token. This reward adjusts with changes in the Bitcoin fee market and is allocated according to active Pop Miners' relative publishing speeds, so it is not yield produced automatically simply by holding tokens.

Question 3

How can HEMI be used to participate in governance?

Accepted Answer

HEMI holders can lock HEMI through the veHEMI mechanism to obtain eligibility required for governance and ecosystem participation. Locking is not the same as ordinary holding: during the applicable lock-up rules, tokens cannot be treated as an ordinarily available balance, and participants should first confirm the lock-up period, exit arrangements, and related risks. Governance weight comes from the lock status specified by this mechanism, rather than being determined solely by the HEMI balance in a wallet. Therefore, whether to participate, how much to lock, and how long to lock it can affect the governance or ecosystem-participation eligibility a participant may obtain; the specific scope of proposals and execution rules should follow the governance mechanism in effect at the time.

Question 4

How is HEMI's supply arranged?

Accepted Answer

HEMI has an initial total supply of 10 billion tokens; the materials list an annual protocol emission range of 3% to 7%. Calculated against the initial total supply, this range corresponds to approximately 300 million to 700 million newly added HEMI per year, but the actual amount added should follow the emission rules applicable to the protocol at that time. “Total supply,” “protocol emissions,” and “circulating supply” are not the same concept: the initial total supply describes the starting point, emissions describe potential new supply the protocol may create, and the amount tradable on the market also depends on when tokens from the initial allocation become available or are released. Therefore, the annual emission percentage alone cannot be used to calculate circulating supply at a particular point in time.

Question 5

Which groups received HEMI's initial allocation?

Accepted Answer

HEMI's initial allocation includes 32% for the community and ecosystem, 28% for investors and strategic partners, 25% for the team and core contributors, and 15% for the Hemispheres Foundation. These percentages describe how the initial supply is allocated among different uses and participant groups. Allocation percentages do not equal immediately tradable supply. Whether tokens in a given category have entered circulation depends on the release or lock-up arrangements applicable to that category; without the corresponding details, the above percentages cannot be used to infer how many tokens a group can sell on a specific date.

Question 6

How is HEMI related to network security?

Accepted Answer

Through PoP (Proof-of-Proof), Hemi publishes Hemi consensus information to the Bitcoin chain, thereby incorporating Bitcoin's proof-of-work security into Hemi's fork choice. A Pop Miner writes recent Hemi block headers into a Bitcoin transaction; after that transaction is confirmed in a Bitcoin block, the Hemi protocol updates its finality statistics accordingly and settles native-token rewards to successful participants. This process changes the cost of reorganizing Hemi blocks; it does not cause HEMI holders to automatically “mine.” When no competing fork has been published, the whitepaper specifies that a Hemi block reaches Bitcoin finality after 9 Bitcoin block confirmations, averaging about 90 minutes; to reorganize that block retroactively, an attacker would also need to carry out a 51% attack on Bitcoin.

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