TGE? Ultra, ultra, ultra soon.

This week’s Midweek with Max dropped a dense stack of updates. From protocol upgrades to tokenomics timelines, Max Sanchez and the Hemi team gave a detailed overview of what’s next for the network. Here’s a summary of what was covered — plus answers to some of the most frequent community questions.

Testnet 4 Support Is Live

Hemi is upgrading from Bitcoin’s Testnet3 to Testnet4, a change that improves block timing stability and eliminates long reorg issues. This shift helps developers test Bitcoin-related dApps and hVM (Hemi Virtual Machine) calls in an environment that better reflects mainnet conditions.

PoP Payout Algorithm Update Incoming

The team is finalizing work on a new Proof-of-Proof (PoP) payout algorithm. It was delayed slightly due to coordination with ecosystem partners but is expected to land soon. This new version will better reflect network usage and offer more accurate reward distribution.

Tokenomics: “Ultra Soon”

The long-awaited tokenomics reveal is still on track to go live before the end of the month. It will include details on VBK integration and how the HEMI token fits into the broader ecosystem. When asked if this meant we’ve hit the “Ultra Soon” phase, Max confirmed: “Yes. Ultra Soon.”

TGE Date Still Pending

The token generation event (TGE) date is not yet finalized. The team is working through scheduling dependencies with partners. Expect the TGE timing to be announced either alongside the tokenomics drop or shortly after.

Hemi + Babylon: LST Support Already Live

Yes, Hemi already supports some Babylon liquid staking tokens (LSTs), with existing liquidity pools live on current DEXs. Expect more DeFi integrations to come as apps like Spectra build out support.

NFT Marketplaces: More on the Way

A new NFT marketplace on Hemi is in the pipeline. No official name or launch date yet, but it’s expected very soon. The delay is due to coordination with third-party teams.

Network Throughput: What’s the Real TPS?

Max theoretical TPS on Hemi is currently about 119 ETH transfers per second. More complex transactions (like swaps) reduce that number. The gas ceiling will increase by 2–3x in the next upgrade, raising overall throughput.

Impact on Bitcoin and Ethereum? Minimal — By Design

Hemi is intentionally designed to avoid placing economic pressure on either Bitcoin or Ethereum. By not using Bitcoin for data availability, and by publishing Ethereum attestations to Bitcoin, Hemi avoids the common pitfalls that Layer 2 systems can introduce to L1s. In fact, the team argues that Hemi strengthens both networks by enabling ZK proof interoperability between them.

HBITVM Whitepaper: Coming Soon

The HBITVM whitepaper is still undergoing final revisions. It includes upgrades to POP (Proof-of-Proof) and introduces mechanisms for slashing-proof security across both networks. Expected release: within two weeks.

The Bitcoin Tunnel & Vault System

Right now, the vault system relies on a single operator, but that will change. A new commit-reveal deposit flow is being implemented to address wallet compatibility issues. BitVM-based vaults will follow, allowing fully decentralized custody with strong slashing guarantees and clawback functionality.

Post-TGE: DeFi Is the Focus

DeFi is the primary growth target post-TGE. Over 40 dApps are already deployed, including aggregators and yield platforms. Long term, the Hemi team plans to launch a curated interface to surface yield opportunities and integrate with projects like Vesper to automate strategy management.

Proof of Proof: Upgrades Ahead

Hemi’s current PoP system builds on the original Veriblock design but will be extended with PoP 2.0. This includes Ethereum consensus attestations published to Bitcoin, reducing the ability for attackers to forge alternate histories or zero-knowledge proofs. The goal: link Bitcoin’s proof-of-work and Ethereum’s proof-of-stake in a way that makes both more secure.

What Kind of Rollup Is Hemi?

Hemi is currently an optimistic rollup. Once BitVM integration is complete and ZK support is live, Hemi will transition to a ZK rollup. This is part of the network’s roadmap toward scalable, verifiable cross-chain computation.

Demos Verification: Why It Matters

Demos, Hemi’s anti-Sybil system, remains critical for non-economic incentives like testnet rewards. The team confirmed that users with two verifications are considered high-trust, and attempts to game the system are being actively audited. On mainnet, economic activity is the main signal — but Demos still plays a role in areas like community governance and future airdrops.

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Want more details? Join the Engineering AMA or tune in next week for another Midweek with Max. With tokenomics and the whitepaper both dropping “Ultra Soon,” this is the moment to get up to speed.