Hermez Network

Hermez Network is a Layer 2 scaling protocol built on top of Ethereum, designed to make token transfers and payments faster and cheaper than transacting directly on the Ethereum base layer. It uses zero-knowledge rollup technology, meaning it bundles many transactions together and submits a compact cryptographic proof to Ethereum rather than each transaction individually. The intended users are anyone who wants to move tokens on Ethereum while paying lower fees and experiencing faster confirmation.

Hermez operates as a zk-rollup, a construction in which transactions are processed off-chain in batches and then verified on the Ethereum mainnet through a zero-knowledge proof, inheriting Ethereum's security without requiring every detail of every transaction to be posted and re-executed there. The HEZ token was used within the network, most notably in a coordinator auction mechanism where participants bid HEZ tokens for the right to process and sequence transaction batches. No consensus algorithm or block time is recorded in the stored data beyond a block time of zero, which reflects that Hermez itself does not produce its own blocks in the traditional sense.

The stored data does not include a fee revenue figure for Hermez Network, so fee-based measures such as a fee yield or protocol revenue ratio are not available on this page. What is known is that coordinators who process batches would have collected user transaction fees as part of their role, but no quantified fee stream is captured here. The 24-hour turnover ratio stands at approximately 0.051, measured over a 24-hour period, reflecting trading volume relative to market capitalisation rather than any protocol fee flow.