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Why does nobody talk about Hermez Network?
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I should do some research intoIMX, LRC or HEZ. Seems interesting projects
Huge fan of ZK-Rollup coins such as IMX, LRC, HEZ etc
Best: Kinda embarrassing but probably HEZ. I didn't RTFM and thought Polygon-Hermez was gonna use it instead of MATIC token. Somehow still made a profit when I sold it. Also kinda feel bad for selling it, oh well. Worst: idk, maybe ICX. Or maybe when I opened a ETH-CRV uniswap LP and lost ETH when the ratio didn't move in my favour.
>They bought a couple of companies and startups that work with zk rollups and other scaling solutions. [Hermez](https://www.coingecko.com/en/coins/hermez-network) is the zk rollup. There's also a way to trade your MATIC tokens for HEZ. I also wouldn't be surprised if Polygon becomes an L1 in a few years. ​ >What makes LRC so much better and more future proof? Is the tech that good? I think OP is basing this on LRC being a zk rollup.
This has already happened [https://www.coindesk.com/business/2021/08/13/polygon-merges-with-hermez-network-in-250m-deal/](https://inc42.com/buzz/after-hermez-polygon-acquires-zk-proof-startup-mir-protocol-for-400-mn-to-expand-ethereum-capacity/) "which holders will be able to exchange at a rate of 3.5 MATIC: 1 HEZ"
A few projects like Augur (REP) has released a v2 of thier token. And the old token can be redeemed for the new ones. In the case of mergers a new token can be created or one of the two selected and holders of the legacy tokens can redeem or get airdropped the new token. An ongoing thing is Matic and Hermez (HEZ). Polygon bought up Hermez and both tokens are active but do things differently. PoS side chain vs zk rollup. What will happen once the Hermez stuff is more developed?
There are at least five investments that make more sense that LRC *on the same terms* Looping shillers tout their coin: MATIC XTZ IMX HEZ WAX
Yes someone said you can swap HEZ for MATIC but I'm trying to find out if holding both is wise.
Wasn’t HEZ exchanged into matic or was that only if people wanted too?
Anyone invested in Hermez network HEZ and can tell me if this is a good coin to hold with MATIC
Since buying Hermez in August, the only thing they've done to begin integrating Hermez with the polygon network is allowing people to convert HEZ to MATIC. Buying a functional L2 doesn't magically make your existing network of projects L2 capable.
there might be a possible arbitrage coming up, when the smart contract for the hermez protocol and polygon merge gets deployed you will be able to swap 1 HEZ for 3.5 MATIC right now the price of hez is 6,23$ and matic is 1,75$ so almost at the 3,5 equilibrium but hez only rose 0,5% today while matic increased 12%
IMO this is the best time to invest in altcoins, I have made so much profits holding altcoins like PKR, CVP,HEZ in the past week. I have made 7x profit particularly PKR which will further moon at the launch of PKR
What's the best way to buy into ZK rollups, other than LRC and the HEZ/MATIC merge?
The hell does this mean: >($HEZ to soon become $MATIC pegged at 1HEZ=3.5 MATIC)
They merged, yes. HEZ will eventually become MATIC pegged at 1 HEZ = 3.5 MATIC
Interesting question, mostly exchanges and companies merge but keep their tokens independent. HEZ is merging into MATIC from what I’ve read but it works as a buyback/exchange to do so since individuals have to choose to swap the token. This is the first instance of one [Blockchain merging into another](https://www.coindesk.com/business/2021/08/13/polygon-merges-with-hermez-network-in-250m-deal/)
Yes, but MATIC is on the road to inevitably become an L2 with them acquiring HEZ.
Reading how MATIc and HEZ are merging, it’s very cool that coins and blockchains can just become one merged entity
Polygon (Matic) networks expanding expotentially after its merge with Hermez (HEZ token).
So if I bought HEZ awhile ago and hold it in meta mask, the POLY token will automatically be swapped with it?
tldr; Global cryptocurrency market cap is $2.01 trillion, a 0.68% increase over the last day. Bitcoin's price is currently $47,659.71 and its dominance is currently 44.19%. In a first-ever crypto token merger, two native tokens MATIC and HEZ will be merged. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Yeah. So buy 1 HEZ for 4.77 and get 5.04 worth of MATIC.
So if I buy HEZ... With current rates, would I get 6% extra MATIC?
Yes super bullish for matic, all HEZ holders can exchange their coins 1HEZ for 3.5MATIC I believe, and they will eventually just phase out the og HEZ coins
1. Tokens are not securities. You could avail MATIC in exchange for HEZ if you were a holder. 2. Indian company and a Swiss company. SEC has no jurisdiction.
tldr; Polygon is spending $250 million to acquire all HEZ tokens and rebrand the Hermez Layer 2 to Polygon HerMez. Polygon will be a true Layer 2 Ethereum solution, with low fees and low latency. HEZ holders will be able to exchange their tokens at a 3.5 MATIC/1 HEZ ratio. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
No a blockchain acquired another blockchain today, MATIC acquired HEZ
"HEZ will be able to exchange the tokens at a rate of 3.5:1 to Polygon’s MATIC tokens" I meant this exchange rate
Matic hodlers hold on tight. Matic merging with HEZ should bring some decent change
Kinda interesting. All HEZ owners are getting 3.5 MATIC “soon” I’m going to be watching!
“Hermez will be absorbed into the Polygon ecosystem under the name Polygon Hermez, where it will become a part of Polygon’s line of products, including Polygon SDK and Polygon Avail. The entire Hermez project – its employees, technology and native HEZ token (which holders will be able to exchange at a rate of 3.5 MATIC: 1 HEZ) – will be integrated into Polygon’s platform.”
Not too much. HEZ has a $55mil market cap. But if you bought HEZ right now, you're getting matic at a slight discount. HEZ right now - $5.05 MATIC right now - $1.44 1 HEZ = 3.5 MATIC Interesting arbitrage!
Hermez will be absorbed into the Polygon ecosystem under the name Polygon Hermez, where it will become a part of Polygon’s suite of solutions including Polygon SDK and Polygon Avail. The entire Hermez project – its employees, technology and native HEZ token (which holders will be able to exchange at a rate of 3.5 MATIC: 1 HEZ) – will be integrated into Polygon’s ecosystem. Not sure where the special pool of MATIC comes from
How will the merge of tokens take effect?? HEZ holders will receive MATIC?? And those MATICs from what pocket are going out?
“3.5 MATIC: 1 HEZ, meaning HEZ token holders will be able to swap their tokens for several of Polygon’s MATIC tokens. This will occur via the swapping contract that the projects will publish “soon.””
“Ethereum scaling project Polygon (formerly Matic Network) has acquired Hermez Network — a ZK-Rollups-based Ethereum scaling solution — for $250 million. The two projects are also merging their native tokens — MATIC and HEZ — in the first ever such deal in the crypto space.” From a similar article, pretty cool
“Ethereum scaling project Polygon (formerly Matic Network) has acquired Hermez Network — a ZK-Rollups-based Ethereum scaling solution — for $250 million. The two projects are also merging their native tokens — MATIC and HEZ — in the first ever such deal in the crypto space.” Pretty crazy
Anyone knows if Hermez Network (HEZ) is legit?