Hemi BTC
Overview
Status
Mainnet
Type
Reserve
BTC Supply
₿0
HemiBTC is a wrapped BTC asset native to the Hemi blockchain, an Ethereum rollup.
Risk Summary
Users do not have unilateral claims on native BTC.
BTC backing this asset is secured by a federation of signers. Users trust this federation with maintaining the peg with BTC.
The signers for this two-way peg have not been disclosed
The parties responsible for securing the assets backing this wrapper have not been disclosed. There is little-to-no reputational risk for signers securing these funds.
Assessment
Asset Custody
The signers securing BTC backing HemiBTC have not been officially disclosed
BTC backing HemiBTC is secured in a single-signature bitcoin address. Hemi claims that they use a threshold signature scheme to move funds from this address, but the specific siganture scheme, and participating signers, have not been officially disclosed.
Further sections to be reviewed
Aspects related to minting & burning, key management, transaction signing, and proof-of-reserves have not been reviewed. We are currently reviewing these sections.