Hemi and Impossible Finance are announcing their first official node sale.

TL;DR

In order to accelerate the build-out of the network, Hemi is launching a node sale in the form of a “Validator Passport” for participants to run network nodes and earn rewards – via Impossible Finance.

About the Sale

Participants with Validator Passports contribute to Hemi’s decentralization and scalability. A total of 22,000 passports will be available, divided into three types that will feature different benefits, revenue-sharing opportunities, and token emission schedules:

• Pathfinder — 1,000
• Voyager — 3,000
• Explorer — 18,000

Details on the benefits of each tier will be announced via @hemi_xyz and @impossiblefi on X.

About Hemi

Powered by Bitcoin and Ethereum, Hemi is a modular layer-2 protocol for superior scaling, security, and interoperability. Other projects approach Bitcoin and Ethereum as ecosystem silos, Hemi views them as components of a single supernetwork. This unlocks new levels of programmability, portability, and potential. 

Founders Jeff Garzik and Max Sanchez envision a new, converged Internet ecosystem that is more secure, highly interoperable, and prepared to address the challenges of Web3 and the AI-driven future that is quickly colliding with the Internet at-large.

Hemi’s co-founders work alongside a team of renowned blockchain engineers, strategic collaborators, and investors.

Since the testnet launched in July 2024, the team has announced numerous collaborations as well as a $15 million seed round led by Binance Labs, Breyer Capital, and Big Brain Holdings. 

How it Works

Following a successful Validator Passport purchase, the system transfers an NFT license to the buyer’s wallet, enabling the buyer to operate a network node and receive rewards in the Hemi native token.

Initially, buyers will operate a decentralized RPC cloud of nodes that provide scalable, resilient infrastructure for users and developers to leverage to interact with Hemi.

Once Hemi’s decentralized sequencing protocol launches later this year, Validator Passport holders will transition to sequencing transactions for the network. This will provide users with robust anti-censorship guarantees compared to the centralized sequencer systems commonly used in the L2 ecosystem. This also adds an additional layer of intermediate consensus security for transactions prior to achieving full Bitcoin-level security (aka Superfinality) through Hemi’s Proof-of-Proof (PoP) consensus.

Depending on the selected option, holders of Validator Passport licenses will receive a portion of their total token rewards ranging from 10-30% for performing the initial node setup, and will receive the remainder of rewards over the 12-48 month lifespan of the license for continuing to operate and maintain their node.

Additionally, the Voyager and Pathfinder tiers will receive a portion of the protocol’s base fee revenue up to a specified limit. All nodes will collect tips from the transactions they sequence. 

Licenses will be sold in USDC on Arbitrum, and buyers will receive an NFT as proof of ownership for the Validator Passport License. One year after purchase, license holders will have the option to transfer their license freely.

Running a Validator

To operate a Validator Passport, users can either download a lightweight software package suitable for low-end hardware or choose to deploy through a Validator Passport Service or Validator Passport-as-a-Service provider, which supports up to 100 Validator Passports on a single server. Additional details will be shared closer to the sale date.

Important Dates

The following are the currently anticipated dates for the sale: 

• Private Whitelist Sale: February 3, 2025 2PM UTC until February 6, 2025 2PM UTC
• Public Sale: February 10, 2025 until February 13, 2025 2PM UTC
• Mainnet Launch: Q1-2025

For More Information

Follow @hemi_xyz and @impossiblefi on X for further details and updates.