Hermez Network Token

One of the most important things about Hermez is the way it decides who the next block creator should be, as block creators are selected via a burn auction, except rather than burning tokens, a 40% of the winning bid goes back to be reinvested in Ethereum public goods through Gitcoin quadratic funding grants.

In the Hermez Network this mechanism is referred as proof-of-donation because a significant fraction of this bid is donated to the protocols and social services that run on top of Ethereum.

Hermez Network is developed by idem3.