📘Understanding HERMES

The main purposes of the Hermes token are to incentivize liquidity providers on the Hermes Protocol platform as well as getting as many users involved as possible in the governance of the protocol.

Currently HERMES has three main uses: voting, staking and boosting. Those three things will require you to vote lock your HERMES and acquire veHERMES.

veHERMES stands for vote escrowed HERMES, it is simply HERMES locked for a period of time in a form of an NFT. The longer you lock HERMES for, the more veHERMES you receive.

Staking (trading fees and bribes)

HERMES can be staked (locked) to receive trading fees from the Hermes Protocol. HERMES stakers receive 100% of trading fees and bribes from the pools they vote.


One of the main incentive for HERMES is the ability to boost your rewards on provided liquidity. Vote locking HERMES allows you to acquire voting power to participate in the DAO and earn a boost of up to 2.5x on the liquidity you are providing on HERMES.


Once HERMES holders vote-lock their veHERMES, they can start voting on whitelisting tokens. This mechanims is still being setup.

The HERMES Matrix

The table below can help you understand the value add of veHERMES.

Wait, there's more!!

veHERMES lockers (HERMES stakers) have their HERMES balance undilluted. This is how it works -> veHERMES lockers HERMES balance grows proportionally to inflation (emissions).

What does this mean?

veHERMES balances grow by -> Emissions * veHERMES Total Supply / HERMES Total Supply

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