Hemi, the blockchain-based DeFi network, has launched its mainnet today, and as a part of the event, it is organizing various events and giveaways. All users who contribute to the growth of the network will be rewarded with in-app points that can be swapped into blockchain rewards.
This article delves into the details of the launch event and provides information on Hemi and its incentive programs. Also, the article provides $HEMI token’s TGE and listing details. Let’s get started.
Details of the Hemi Mainnet Applications
With the mainnet launch, various DeFi, trading, and smart contract applications are live on the network. Users can engage with them according to their needs and earn decent rewards. More programs will arrive in the upcoming days. The launch applications include:
- DEX Trading: Users can join Hemi’s DEX trading interface with Bitcoin-integrated liquidity pools to swap assets on Izumi, Sushi, DODO, and Oku.
- Lending and Borrowing: Hemi provides lending markets for those who are in need of assets, and with a collateral, anyone can borrow. It is in partnership with Layerbank, ZeroLend, and LendOS.
- Perpetual Trading: With Bitcoin as collateral, users and traders can leverage positions with Artura (previously Bitperp).
- Synthetic Assets: Participants can create and trade synthetic assets (representations of blockchain assets) with Metronome and Sumer.
- Staking: With platforms such as Cygnus and Pell, users can stake popular coins like BTC and ETH to earn rewards.
How to Earn from Hemi? Testnet & Giveaways
To increase the engagement of users and to find errors, if any, Hemi conducted a testnet phase with various activities and incentives. The testnet was officially closed on March 11th, with 103,843 unique holders and 103,886 total badges minted.
Normal users, developers, and creators were rewarded with points for transactions, minting, community involvement, and other activities. The points will be converted to Hemi’s native token and distributed to all eligible participants after the Token Generation Event (TGE).
Apart from the testnet rewards, users can earn them by participating in various mainnet launch-based giveaways. The link to the tasks and participation guidelines will be available on Hemi’s official X handle. Also, users that hodl assets can partake in lending pools and transactions to earn extra rewards.
Hemi Network TGE, Reward Distribution, & Listing Dates
Soon after the mainnet launch, the Token Generation Event will begin. Then, all the eligible users will receive $HEMI rewards according to their in-app points. Following the listing, the tokens can be traded on exchanges. As of today, the dates of these events have not yet been revealed by the Hemi team. We can expect an update soon through the platform’s social media profiles.
About Hemi
Hemi is a modular blockchain ecosystem powered by Bitcoin and Ethereum. Through its collaborators, users can be involved in various activities, such as building applications, participating in lending and borrowing, trading perpetuals, and staking.
Hemi’s testnet to mainnet transition witnessed major milestones like the $300 million in total value locked (TVL) and the participation of 103K unique users. The native token of the ecosystem is $HEMI, yet to be launched on exchanges.
Conclusion: Is Hemi a Legit Network?
Hemi seems like a legitimate platform to engage with. It is supported and partnered by famous web3 firms, and it has huge support from its emerging community. As an advanced technological innovation, the platform has the potential to stay in the crypto environment for a long time.
Hemi’s $HEMI token can be added to your diversified portfolio as a long-term asset. However, traders should be cautious about the uncertainty and volatility of the market to avoid getting rekt. Please go through Hemi’s documentation to learn more about the platform and try to use safe and reputable crypto trading platforms while swapping $HEMI.