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Jacob’s Web3 Journey & Formation of Hermetica
- Jacob transitioned into Web3 to create Hermetica.
- Aims to unlock native Bitcoin yield through decentralized mechanisms.
- Focuses on secure and user-friendly DeFi solutions for Bitcoin.
Vision Behind Building a 'Bitcoin-Native Bank'
- Addresses the lack of DeFi infrastructure on Bitcoin.
- Brings yield opportunities to Bitcoin holders.
- Fills a major gap in the Bitcoin ecosystem.
Operational & Technical Challenges
- Navigates Bitcoin’s limited smart contract capabilities.
- Uses smart architectural design to overcome hurdles.
- Builds on Bitcoin’s Layer 1 and Layer 2 (e.g., Stacks).
Onchain Credit for Bitcoin
- Introduces early-stage credit markets for Bitcoin.
- Discusses regulatory and infrastructure evolution needs.
- Highlights potential for scalable credit solutions.
Current State of Hermetica & Long-Term Narrative
- Shows strong traction with USDh stablecoin.
- Aims to make Bitcoin DeFi as composable as Ethereum’s.
- Envisions Hermetica as a key part of Bitcoin’s DeFi stack.
Safeguarding Users & Funds
- Prioritizes security with smart contract audits.
- Implements onchain risk management systems.
- Ensures user fund safety through robust design.
Fundraising Strategy & Timing
- Emphasizes clarity of vision and market need.
- Timing is important but secondary to solving real problems.
- Raised $1.7M to support development and growth.
Outlook for 2025
- Aims to be a foundational piece of Bitcoin’s DeFi stack.
- Plans deeper integrations and sophisticated financial products.
- Expects growing user base and enhanced ecosystem.
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Hermetica is building the first Bitcoin-backed, yield-generating stablecoin (USDh), enabling Bitcoin holders to access USD liquidity and DeFi yields on Bitcoin’s Layer 1 and Layer 2 networks (e.g., Stacks) without selling their BTC.
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