hemiBTC/wBTC/cbBTC LP pools to the gauge controller
Summary
Proposal to add hemiBTC/wBTC/cbBTC liquidity pools to the Gauge Controller.
Reference/ Useful Links:
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Website: https://hemi.xyz/
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Documentation: https://docs.hemi.xyz
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Github: https://github.com/hemilabs
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Community: https://discord.gg/hemi
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Hemi Portal: https://app.hemi.xyz/
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hemiBTC ERC20 contract (Ethereum): 0x06ea695B91700071B161A434fED42D1DcbAD9f00
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Curve pool contract: 0x66039342C66760874047c36943B1e2d8300363BB
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Curve pool: https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit
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Whitepaper: https://static.hemi.xyz/whitepaper.pdf
Protocol Description
Hemi Network is a modular Layer-2 protocol that unifies Bitcoin and Ethereum, combining Bitcoin’s security with Ethereum’s programmability. Founded by Bitcoin core developer Jeff Garzik, Hemi raised $30M total ($15M pre-seed and $15M pre-TGE growth round) led by Yzi Labs, Breyer Capital, Big Brain, and other top firms. Hemi launched its mainnet on March 12, surpassed $1B TVL in just 38 days, and is now the world’s largest Bitcoin programmability layer.
hemiBTC is Hemi’s native Bitcoin representation, backed 1:1 with native BTC and mintable only through Hemi’s Tunnel. Key features include overcollateralized multisig vaults, Bitcoin Proof-of-Work finality through Proof-of-Proof consensus, and a progressive decentralization roadmap with planned ZK hBitVM integration.
Motivation
Hemi aims to make its innovative BTC product cross-chain compatible by building deep liquidity against other major, reputable BTC derivatives. This tripool will play a critical role in expanding the utility of hemiBTC and will serve as a primary liquidity venue for the asset.
Strategic Value:
Gauge addition enables CRV emissions to bootstrap deep liquidity necessary for efficient swapping between major BTCs. Strong liquidity generates fee revenue for veCRV holders through increased trading volume, and hemiBTC is designed to be a major blue chip BTC.
Specifications
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Governance: hemiBTC is ungoverned, Hemi is governed by veHEMI holders.
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Oracles: eOracle
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Audits: hemiBTC and hemiBTC tunnel audits by Quantstamp
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Centralization vectors: Phase 1 uses overcollateralized multisig vaults, with hot and cold vault separation, and additional pro-custody software, hardware and physical security procedures. ZK-based hBitVM coming soon in early 2026 (Phase 2) then full trustless settlement (Phase 3).
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Market History: The hemiBTC/WBTC/cbBTC tripool was initially created on November 26th and currently has around $500k of liquidity.