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View ChartHermez Network (HEZ) is a decentralized zero-knowledge rollup, commonly known as a zk-rollup, designed to scale payments and token transfers on top of the Ethereum public blockchain. It operates as a Layer 2 solution that is borderless, secure, and decentralized, built directly on Ethereum. The network is specifically designed with high-frequency tokens such as ETH, DAI, Tether, and wBTC in mind, offering faster and cheaper transactions through the use of zero-knowledge technology. All funds are held in smart contracts on Ethereum, and the project positions itself as a true Ethereum ecosystem project with a 100% Ethereum focus.
The HEZ token has a maximum supply of 100,000,000 tokens and a total supply of 100,000,000 HEZ. The circulating supply is reported at 4,700,000 HEZ. Hermez launched in 2020 and is based in Zug, Switzerland. Following a merger with Polygon announced in August 2021, the project became known as Polygon Hermez, with MATIC taking on the role of HEZ within the ecosystem moving forward.
Hermez Network was led by founder Jordi Baylina, described as one of the most prominent and respected contributors to Ethereum. His involvement in Ethereum began when he helped rescue TheDAO hack funds, and he has since been actively contributing to the ecosystem. In recent years, he turned his focus to building ZK-based systems, primarily focused on scaling, privacy, and identity. Hermez is a team of 26 people with various areas of expertise. Beyond their work on Hermez, Jordi and the team contributed to the Ethereum ecosystem by providing useful tools, libraries, identity solutions, and audits.
Hermez operates as a decentralized zk-rollup that takes transactions off the Ethereum main chain and executes them off-chain, then verifies them on Ethereum Layer 1. This approach increases the number of transactions that can be executed per second to up to 2000, a significant improvement over Layer 1 Ethereum. Polygon Hermez 1.0 launched in March 2021 with the goal of scaling payments and ERC-20 token transfers, focusing on decongesting the Ethereum main chain.
Polygon Hermez 2.0 was developed to emulate the Ethereum Virtual Machine, executing Ethereum transactions with zero-knowledge proof validations. This was accomplished by developing an EVM based on zero-knowledge, designed to recreate all existing EVM opcodes that can be deployed as smart contracts, minimizing friction for users and dApps. Hermez features a decentralized operator model built into the protocol and live on the mainnet. The network selects block creators through a burn auction, where 40% of the winning bid is burned.
Hermez distinguishes itself as a fully functional, decentralized rollup processing thousands of transactions and verifying them on Ethereum L1. It is described as the only decentralized rollup, as most rollups at the time had important components like operators fully centralized, a compromise the Hermez team chose not to make. The project is 100% Ethereum-focused and has contributed tools, libraries, identity solutions, and audits to the broader ecosystem.
The merger with Polygon marked the first full-blown merger of one blockchain network into another, integrating all components of the Hermez project, including technology, live solutions, team, and the HEZ token, into the Polygon ecosystem. This integration brought Hermez into the growing Polygon suite alongside solutions such as Polygon PoS, Polygon SDK, and Polygon Avail.
HEZ provides security, rewards, and potentially some additional utilities within Polygon Hermez. After the merger, MATIC took the role of HEZ in Polygon Hermez, providing security, rewards, and additional utilities. The network itself is used for scaling payments and token transfers on top of Ethereum, designed with high-frequency tokens like ETH, DAI, Tether, and wBTC in mind.
HEZ token holders were able to swap their tokens for Polygon's native token (MATIC) via the swapping contract following the merger. The swap ratio was set at 3.5 MATIC : 1 HEZ, calculated based on the respective prices at 11AM CET on August 4, 2021. The HEZ token will cease to exist after a specific date yet to be defined.
Following the merger with Polygon, Hermez became part of the growing Polygon suite that already offers solutions such as Polygon PoS, Polygon SDK, and Polygon Avail. The project continues to develop its EVM-compatible solution, with Hermez actively working on introducing EVM compatibility through its zkEVM. More details about Hermez's zkEVM can be found in the official announcement.
The ecosystem includes payment and purchase channels such as Guardarian, Bit2Me, Coindisco, and MoonPay, supporting various payment methods including credit cards, debit cards, bank transfers, Apple Pay, Google Pay, SEPA, SPEI, Pix, and more. Wallet compatibility includes MetaMask for browser extension and mobile app, compatible with Ethereum and most main blockchains, facilitating access to decentralized applications. Storage options include custodial wallets, self-custody wallets, hardware wallets, third-party crypto custody services, and paper wallets.
HEZ is not mined through traditional proof-of-work mining. Instead, the network operates on a decentralized operator model where block creators are selected through a burn auction. In this system, 40% of the winning bid is burned. The token serves as part of the network's security and reward mechanism.
Following the merger with Polygon, MATIC takes the role of HEZ in Polygon Hermez, providing security, rewards, and potentially some additional utilities. HEZ holders could swap their tokens for MATIC through the swapping contract. The HEZ token will cease to exist after a specific date yet to be defined.
Users have several storage options for keeping HEZ safe, including custodial wallets from cryptocurrency exchanges, self-custody wallets on web browsers, mobile devices, or desktop, hardware wallets, third-party crypto custody services, and paper wallets. MetaMask is a compatible option, available as a browser extension and mobile app for Android and iOS, compatible with Ethereum and most main blockchains.
When using a blockchain scanning tool such as Etherscan.io to find the smart contract address and paste it into a DEX search bar to perform a swap manually, users are reminded to carefully check the addresses and be alert to possible frauds or phishing attacks. Most providers require a simple KYC verification to comply with local laws. The token's reputation on Etherscan is listed as Neutral, and no contract security audit has been submitted per Etherscan.
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Thank you for your interest in BTCC. Currently, spot and futures trading services for HEZ are not supported. As a leading digital asset platform, BTCC is committed to providing a secure and stable trading environment. We recommend completing your account registration and identity verification (KYC) to explore other premium assets and exclusive benefits available on BTCC.
As of right now, the live price of Hermez Network (HEZ) is $3.397492. Its market price fluctuates in real time based on overall supply and demand, and you can check the updated HEZ to USD rate at the top of BTCC’s price page. In terms of market scope, Hermez Network records a 24h trading volume of $0 (reflecting total buying and selling activity over the last 24 hours), with a total market cap of $15.891878M. Its current circulating supply stands at 4.7M out of a maximum supply cap of 100M.
The price volatility of Hermez Network (HEZ) is essentially driven by market supply and demand dynamics. Key factors behind its price movements include: 1) Global macroeconomic conditions and sentiment, such as Fed interest rate decisions; 2) Tokenomics, including the ratio of circulating supply (4.7M) to max supply (100M), as well as token unlocks and burn mechanisms; 3) Fundamental developments, such as ecosystem expansion, on-chain activity, and core protocol upgrades; and 4) Derivatives market dynamics, including leverage battles and liquidation cascades in perpetual contracts.
Looking at its historical price performance, Hermez Network (HEZ) hit an all-time high (ATH) of $10.241816 on 2021-12-27 04:50, representing the peak of market sentiment. Conversely, its all-time low (ATL) was recorded at $2.426319 on 2020-10-26 17:40. Note that historical highs and lows reflect past performance only and do not guarantee future price trends; investment decisions should always align with live market conditions and your personal risk tolerance.
When trading HEZ futures on BTCC, technical chart analysis begins with identifying key support and resistance levels on 1D and 4H charts using historical price pivots. Next, apply MA/EMA indicators to gauge trend directions, alongside RSI (values above 70 indicate overbought conditions, while below 30 suggest oversold levels). Always validate breakout signals with the 24h trading volume ($0), as price breakouts accompanied by strong volume offer higher reliability.
Unlike spot trading where you can only profit from rising prices, BTCC’s HEZUSDT perpetual contracts support two-way trading. If you anticipate a price decline for Hermez Network, simply log into your BTCC account with USDT margin available, navigate to the HEZUSDT pair, set your desired leverage and Take-Profit/Stop-Loss levels, and click "Sell/Short". Once the price drops to your target, close your position to lock in profit from the price difference.
Yes. BTCC offers flexible, high-tier leverage options for HEZUSDT perpetual futures, providing up to 500x leverage (maximum leverage limits may vary depending on liquidity). While leverage boosts capital efficiency by allowing you to control larger position sizes with less margin, it also amplifies liquidation risks proportionately. BTCC strongly advises using Stop-Loss orders to strictly manage risk when trading with high leverage.
Beginners and traders testing new strategies can switch to BTCC's "Demo Trading" mode with a single click on the App or Web interface. The demo account comes pre-loaded with risk-free virtual funds (such as 100,000 USDT). Powered by live market prices (current price: $3.397492), you can practice opening/closing positions, adjusting leverage, and setting TP/SL for HEZUSDT with zero financial risk.
Trading Hermez Network (HEZ) on BTCC requires just 4 simple steps: 1) Register a BTCC account and complete basic Identity Verification (KYC); 2) Buy USDT using fiat via credit card/express payment, or deposit USDT/BTC directly from an external wallet; 3) Navigate to the Futures section, search for HEZUSDT, and review its live price ($3.397492) and chart; 4) Select your margin mode and leverage, choose "Buy/Long" or "Sell/Short" based on your market outlook, set TP/SL orders, and confirm your trade.
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by BTCC regarding the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BTCC is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third-party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under BTCC’s control. BTCC is not responsible for the reliability or accuracy of such third-party sites or their contents.
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