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 recording each transaction individually. The protocol is aimed at anyone who wants to move tokens on Ethereum without paying full mainnet fees for every transaction.

Hermez operates as a zk-rollup, where a coordinator collects transactions off-chain, computes a zero-knowledge proof that all those transactions are valid, and then posts that proof to the Ethereum mainnet for settlement. The HEZ token was used within the system for the coordinator auction mechanism, where participants bid HEZ to earn the right to process transaction batches. The protocol lives entirely within the Ethereum ecosystem, with Ethereum serving as the final settlement and security layer.

The data provided does not include a fee revenue figure or a protocol fee stream for Hermez Network, so fee-based measures that would normally appear on this site are not available for this asset. The circulating supply sits at 11,065,762.52 HEZ against a maximum supply of 11,078,525.04 HEZ, meaning 99.88 percent of the maximum supply is already in circulation and the dilution overhang stands at 0.0 percent, leaving virtually no additional token issuance ahead. The fully diluted value equals the market capitalisation at this point in time, reflecting that supply is essentially complete.