Spectra and Steer joined us this week to talk about their momentum on Hemi.

TL;DR:

• Builders Channel is live. If you’re building on Hemi, now’s the time to get involved.
• PoP mining incentives and TGE timelines were clarified—more coming soon.
• The Hemi token will power everything from sequencer staking to protocol fees and Bitcoin tunnel collateral.

This week’s Midweek with Max brought together some of the most active builders on Hemi to talk through where we are, where we’re headed, and why it matters. Spectra and Steer joined the call to share details on their Hemi deployments and the role they’ll play in building a more active, yield-driven ecosystem for Bitcoin.

Spectra: Permissionless Yield Trading Comes to Hemi

Absolute Unit from Spectra kicked things off. For those unfamiliar, Spectra is a fully permissionless yield trading protocol, originally launched in DeFi Summer 2020 and relaunched as Spectra V2 in June 2023. It supports any yield-bearing asset and allows anyone to spin up a trading pool.

The team is working toward launching their next version, including MetaVaults that support non-expiring pools and ecosystem-specific risk tranches—an upgrade inspired by protocols like Morpho. The AMM is also being upgraded to boost efficiency, which should significantly improve liquidity for PT and YT markets.

Spectra’s app is expected to go live on Hemi within days. Liquidity is already being seeded, and contracts are deployed. Users will soon be able to trade PTs and YTs from Hemi-native lending markets, opening up opportunities for PT looping and speculative yield trading.

On incentives: Spectra uses a ve-tokenomics model like Aerodrome. LPs vote to direct emissions, with nearly a third of all incentives already being funded by redirected LP fees. Additional partner-driven incentives are expected to come online in the coming weeks.

Steer: Yield Aggregation Across Chains, Now on Hemi

Next up, Derek and Sam from Steer shared how they’re bringing their cross-chain yield platform to Hemi. Steer runs on 39 chains and supports 45 DEXs, offering automated, permissionless strategies ranging from simple liquidity provisioning to hedge-fund-style vaults.

On Hemi, Steer is already seeing APRs as high as 186% on WETH-USDC and 45% on stable pairs like VUSD-USDE. Their “set-and-forget” strategies will let users tap into these yields directly from the Steer UI.

They’re also rolling out support for on-chain options vaults, and their Smart Rewards system helps protocols grow by distributing stakeless incentives tied to real on-chain activity.

Builder Updates: A Focus on Community Contribution

Engineering updates covered ongoing work on post-mainnet improvements, node orchestration, and the upcoming BitVM-powered Bitcoin tunnel. The Builders Channel is now live in Discord—meant for people actively building on Hemi, whether that’s DApps, dashboards, or protocol-level contributions.

You don’t need to be an expert. If you’re working on something real and have touched the tools, the team wants to hear from you. Whether it’s bugfixes, UI improvements, or core contributions, Hemi’s engineering team is around and ready to help.

Community Numbers and Strategy

Hemi has passed $750M in TVL and continues to see strong engagement across its channels. Ahead of Token2049 and Bitcoin 2025, the focus remains on supporting builders, guiding users toward the best DeFi tools, and keeping Bitcoin at the center of the conversation.

The tokenomics announcement is still pending as the team wraps up final details, including exchange reviews and distribution modeling. Expect a release by early May.

Need more info? Head over to the Hemi Discord where you can meet the crew and take part in one of the coolest new products in crypto.