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HomeCOINSHermes Protocol (HERMES) Coin Guide & Detailed Review

Hermes Protocol (HERMES) Coin Guide & Detailed Review


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About Hermes Protocol

Use of (the “Site”) and the Hermes Protocol (the “Protocol”) is strictly at your own risk. Before using the Protocol, users should fully understand and accept the risks involved, which include, but are not limited to, front-end errors, bugs, hacks, regulatory and tax uncertainty, and total loss of funds. Do not deploy funds you cannot afford to lose. No representations or warranties are made as to the safety of funds deployed, and Hermes Protocol or Maia DAO will not be liable or responsible for any losses incurred.

By using the Site or the Protocol, you represent and warrant that your use does not violate any law, rule or regulation in your jurisdiction of residence. Nothing on the Site or any of Protocol’s and Maia DAO’s social media channels should be considered financial advice. Protocol officially launched in February 2022 and started emissions in March 2022. Hermes allows liquidity providers to take decisions on adding new gauges, boosting gauge yields, voting on token emission, and receive bribes.

They want to thank Andre Cronje and everyone who helped him to come up with this concept, along with all his and their contribution to the whole of DeFi, literally building its foundations. Protocol allows low cost, near 0 slippage trades on uncorrelated or tightly correlated assets. The protocol incentivizes fees instead of liquidity. Liquidity providers (LPs) are given incentives in the form of HERMES, the amount received is calculated as follows.

Hermes Protocol Basic Points Table

Coin BasicInformation
Coin NameHermes Protocol
Short NameHERMES
Circulating SupplyN/A
Total Supply100,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

Who Are The Founders of Hermes Protocol


What is Hermes Protocol?

The easiest way to understand Hermes is to see it as an exchange. Its main goal is to let users and other decentralized protocols exchange both volatile assets (DAI to WETH for example) and stablecoins (DAI to USDC for example) through it with low fees and low slippage. Unlike exchanges out there that match a buyer and a seller, the behavior of Hermes is different, it uses liquidity pools like Uniswap. To achieve this, Hermes needs liquidity (tokens) which is rewarded by those who provide it.

Change made to the source protocol

Hermes Protocol aimed to address the original protocol’s different shortcomings without compromising AC’s vision of the fee incentives model, in order to achieve this had to temporarily compromise and include a DAO, making the process of whitelisting tokens permissioned, they have plans laid out on how to change this in the future achieving a fully decentralized and permissionless process of whitelisting new tokens for gauge creation. Additionally, a one week vote lock was created to address the bribe farming exploit present on the original protocol which fundamentally broke the game theory of the fee incentive model.

What are liquidity pools?

If you are new to Ethereum, Metis or DeFi, liquidity pools are a seemingly complicated concept to understand so I will do my best to help. Liquidity pools are pools of tokens that sit in smart contracts. If you were to create a pool of DAI and USDC where 1 DAI = 1 USDC. You would have the same amount of tokens, let’s say 1,000 tokens (1,000 DAI and 1,000 USDC) in the pool.

If trader 1 comes and exchange 100 DAI for 100 USDC, you would then have 1,100 DAI and 900 USDC in the pool so the price would tilt slightly lower for USDC to encourage another trader to exchange USDC for DAI and average the pool back. You can see those details for each pool and it is something you can take advantage of when depositing.

Why Choose Hermes Protocol

Stable coins have become an inherent part of cryptocurrency for a long time but they now come in many different flavors (DAI, TUSD, MIM, BUSD, USDC and so on) which means there is a much bigger need for crypto users to move from a stable coin to another. Centralized exchanges tend to have high fees which are problematic for those trying to move from a stable coin to another. As a result, Protocol has become the best place to exchange stable coins because of its low fees and low slippage. And Hermes also allows swaps with volatile assets.

Where Can You Buy Hermes Protocol (HERMES)?

Hermes Protocol Tokens Can Be Purchased On Most Exchanges. One Choice To Trade Is On Hermes Protocol, As It Has The Highest HERMES/METIS.e Trading Volume, $8,947 As Of February 2021. Next is OKEx, With A Trading Volume Of $6,180,82. Other option To Trade Include HERMES/METIS And Huobi Global. Of Course, It Is Important To Note That Investing In Cryptocurrency Comes With A Risk, Just Like Any Other Investment Opportunity.

Market Screenshot

Hermes Protocol Market Screenshot

Hermes Protocol Supported Wallet

Several Browser And Mobile App Based Wallets Support Hermes Protocol. Here Is Example Of Wallet Which Support Hermes Protocol – Trust Wallet For Hardware Ledger Nano.

FAQ Of Hermes Protocol

Where I Can Find Hermes Protocol Whitepaper?

You Can Find Hermes Protocol Whitepaper By Clicking Here

Where I Can Buy/Sell Balancer Token?

You Can Buy or Sell Balancer Token On Some Popular Exchange For Example – Hermes Protocol.

What is Circulating Supply Of Balancer Token?

Circulating Supply Of Balancer Token Is N/A.

Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .

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About Hermes Protocol Use of (the “Site”) and the Hermes Protocol (the “Protocol”) is strictly at your own risk. Before using the Protocol, users should fully understand and accept the risks involved, which include, but are not limited to, front-end errors, bugs, hacks, regulatory...Hermes Protocol (HERMES) Coin Guide & Detailed Review