Another deep dive with Max and Company.

Another week, another packed update from the Hemi protocol engineering team. As always, the team is heads down, building out infrastructure that we expect to carry the network through its next phase—and ultimately define what interoperability between Bitcoin and Ethereum should look like.

v2.0.0-beta Is Live

First, the big one: version 2.0.0-beta of the Hemi Network stack is live. If you’re running a PoP miner or node, this is a major refactor. It simplifies the daemon structure, makes the BFG stateless, and improves miner efficiency. No hard forks or breaking changes here, so you don’t need to update immediately, but when you do, your node setup will be a little lighter, a little faster, and a lot cleaner. The release will move out of beta as soon as final testing wraps and we’re confident in production readiness. New node instructions will follow.

Tokenomics and TGE Update

Let’s address the elephant in the room. Tokenomics has taken longer than expected. Last week we said it would be ready by the end of that week. It wasn’t. Some third-party dependencies caught us off guard, and we’re being cautious. Hemi is building infrastructure for a billion-dollar-plus ecosystem. We’re not going to push half-baked numbers out the door just to hit an internal deadline.

That said, we do expect the tokenomics to be released by the end of this week, and TGE (token generation event) updates will follow. Both are tied together, and both are being finalized with outside parties. The moment we’re confident everything is in place, you’ll get a full, final view of how tokens work, how staking operates, and how we’ve architected long-term value and responsibility into the Hemi network.

Staking System Launching with TGE

Alongside TGE, we’ll be launching a staking system. This will form the basis for decentralized roles across the network—sequencers, publishers, batchers, and more. You’ll stake HEMI to participate, and misbehavior will be slashed. Some slashed tokens will be burned, some will be used to compensate harmed users. That’s how we intend to enforce discipline at the protocol level.

Whitepaper Incoming

The new whitepaper is in final edits. Conclusion is being written now. Grammar passes are underway. This paper outlines how we use ZK proofs of state for Bitcoin, Ethereum, and Hemi to create objective, slashable verification. Expect this to land publicly within the week.

Interop: From Competition to Collaboration

We got a question about whether Hemi sees other Bitcoin L2s as competitors. The answer is nuanced: yes and no. Everyone’s competing for attention, sure. But we’re building in different directions. Hemi is infrastructure. Our work—especially hBitVM—acts as a public good. Other Bitcoin L2s will be able to plug into Hemi’s proofs, ZK systems, and interoperability rails. That’s how we see the future: cooperation through shared standards and battle-tested code.

Already, Bitcoin LSTs from other L2s are live and usable on Hemi. They can be staked, traded, and farmed. And Hemi’s proofs will be available to help other chains validate Ethereum and Bitcoin state in zero knowledge—without exposing themselves to slashing vulnerabilities or subjectivity.

Governance, Aragon, and Delegation

Governance tooling is coming together. Snapshot-style voting, delegation, and other familiar mechanisms are in motion. Aragon is on the radar, but no decision yet. The goal is a governance model that works, not one that just looks good. More details to come in the weeks before TGE.

SubSquid Integration: Data That Moves

SubSquid joined the call this week and gave a detailed look into how their indexing and data layer tech will be used across the Hemi ecosystem. In short, they make it faster and easier for devs to pull on-chain data, compare activity across DApps, and create real-time dashboards. Absinthe is using them to validate points programs and rework its indexing approach, saving time and cutting friction.

Bonus: SubSquid is considering Bitcoin indexing support, which would open up even more use cases for builders working with HBID VM.

Uniswap Support via Oku

We’ve onboarded the Oku team for canonical Uniswap contracts. This gives us a shortcut to full Uniswap support, without burning time and capital on complex integrations. It’s not V4 yet, but it’s fast, reliable, and lets us offer a clean AMM interface on Hemi while we work toward more.

Why Launch on Ethereum?

The HEMI token will launch natively on Ethereum. That’s deliberate. It’s the most widely supported base layer, and it makes integration with exchanges and third parties far simpler. The tunneled version will be what’s actually used on Hemi, but having Ethereum as the source of truth gives us more flexibility.

Scaling Through L3s, Not Just L2 Tweaks

Instead of trying to shove more throughput into the base L2, Hemi will scale via L3s built with Chain Builder. You want ultra-low latency? Custom opcodes for AI? Plasma-like speed channels? You’ll launch a targeted L3, dialed in to the needs of your DApp or user base. The L2 stays small, decentralized, and secure. The ecosystem grows by layering, not bloating.

Final Thoughts

There’s a lot coming. Hemi v2 is almost stable. Tokenomics are nearly final. TGE is getting close. Indexing is getting easier. Governance is taking shape. And the supernetwork vision is becoming real—layer by layer, feature by feature.

We’ll be back next week. In the meantime, get your node updated, watch for the tokenomics drop, and go mint that anniversary NFT before the window closes.