Hemi Hits $1 Billion in TVL

As this issue went to press, Hemi reached a very important milestone: In just under two months since mainnet went live, Hemi has amassed over $1 billion in TVL.

We reached this achievement thanks to our dedicated engineers, the support of our thriving community, and each of our ecosystem partners.

And, of course, Hemigos being Hemigos, there were the memes:

Over $18M Added to Spectra Pools on Hemi

Spectra’s permissionless yield protocol brings Bitcoin-backed yields to Hemi, with $18M seeding BitFi’s bfBTC pools. 

Users can stake HemiBTC on BitFi to get bfBTC and use it on Spectra’s pools to earn with:

• Fixed-rate yields backed by Principal Tokens (PT), which lock in asset interest rates for predictable returns.

• Spectra’s Yield Leverage, which amplifies notional asset exposure with Yield Tokens (YT). Get the power of 3.5 bfBTC with just 0.1 bfBTC, offering around 34x leverage.

• Pools where swap fees between PTs and YTs accrue to liquidity providers alongside the fixed rate of PTs and the native yield from the underlying asset.

Read more.

Satori Launches on Hemi with $25K Competition

Satori, the first perpetual DEX on Hemi, is now live bringing leveraged perps trading and yield-earning vaults to the network.

Users can go long or short on BTC, ETH, and dozens of other assets, with up to 50x leverage. Plus, with Satori vaults, deposits are managed by market makers using onchain strategies to earn yield.

To mark the launch, Satori and Hemi are hosting a $25,000 trading competition from May 1–31. Trade perps on Hemi to climb the leaderboard and win big.

More.

Highlighted Opportunities

This week, we’re featuring the rewards you can get for supporting the Bitcoin ecosystem on Spectra!

🔟 Earn 10x rewards for holding bfBTC YT
🎱 Earn 8x rewards for providing hemiBTC / bfBTC liquidity

👉 Get started.

You can also earn 8x rewards for adding liquidity with select pairs on these partner DEXes:

• Sushi

• OKU

• IZUMI

• DODO

Midweek with Max Recap

This week on Midweek with Max, Spectra — our first repeat guest — officially launched its upgraded AMM on Hemi. It is the first deployment of their fixed-yield design on any chain.

Built for principal and yield tokens, the new AMM prices are based on yield rather than token price. This improves slippage and makes fixed-rate assets more efficient as they approach maturity.

The design is inspired by Curve’s CryptoSwap and has already caught the attention of Curve core contributors. Four new pools are in the works, starting with Bitcoin derivatives.

Check out the replay.

Community Corner: Spectra, Rap Gods, and Builder Energy

We’re getting closer to revealing details around game nights and other exciting — but still top-secret — initiatives. Keep an eye out. Big things are coming.

Congrats to our newest Discord Rap Gods @samstar71 and @RamseyReal, who absolutely crushed the mic during the community segment during this week’s call. Speaking of shoutouts, we have to spotlight Hemigo @~Viktor~ for this phenomenal Hemi recap.

And yes, the rumors are true. The $HAIR token — the first community-generated memecoin deployed on Hemi — is live. Check it out.

Meanwhile, the Builder role and channel on the Hemi Discord are officially live! If you are building on Hemi, you may be eligible for the this new role. 

Requirements:

• GitHub account

• Active contributor on Hemi

• At least one public GitHub repository

• Starred at least two Hemilabs repositories

• Brief description of what you are building

Apply by typing the command “/apply role” in Discord. Reviews happen regularly, and accepted builders will gain access to an exclusive channel for project feedback and direct contact with the engineering team.

And finally, yes, the memes are still memeing. What a week.

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