Hermez Network
HEZ
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
HEZ (Hermez Network) underwent a complete merger into the Polygon ecosystem in August 2021, rendering the independent HEZ token deprecated and structurally defunct. Under the merger terms, HEZ was indexed to MATIC at a fixed swap ratio of 3.5 MATIC per 1 HEZ, transitioning all governance, utility, and ongoing development under Polygon Labs. Due to this obsolescence, Active Development, Community Support, and Tokenomics lacked independent data to score (-1.0) and were excluded from the weighted score calculation. The remaining sections reflect the residual asset profile: Market and Use Case scored 2.0/10 due to negligible volume, conflicting data across trackers, and orphaned token status; Team and Governance scored 5.5/10, acknowledging the high technical caliber of Jordi Baylina and the Iden3 team alongside the absence of independent HEZ governance; and Security and Audit History scored 4.0/10 due to an unrecovered ~67.6% drawdown from ATH and lack of verifiable standalone audits. The overall weighted score is 3.8/10. Because the token is fully deprecated and migrated, an Avoid recommendation applies.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Hermez Network (HEZ)
Hermez Network (HEZ) is a deprecated token that merged into the Polygon ecosystem in August 2021, rendering the standalone asset structurally defunct. Originally created by the team behind Iden3 under technical lead Jordi Baylina, Hermez Network operated on Ethereum as a decentralized zero-knowledge rollup (zk-rollup) focused on scaling payments and token transfers. Following a merger transaction valued at approximately $250 million, the network's underlying technology and development team were integrated into Polygon, and HEZ holders were offered a fixed swap into Polygon's native asset at a ratio of 3.5 MATIC per 1 HEZ.
Following the integration, MATIC assumed all utility and governance functions for the scaling technology, leaving HEZ without independent development, governance rights, or active community channels. Market metrics reflect an orphaned profile with near-zero daily trading volume, contradictory supply figures across market trackers, and an inactive ecosystem presence.
From a risk and security perspective, HEZ suffered an unrecovered price drawdown of approximately 67.6% from its all-time high of $10.30 to $3.34. Additionally, there are no verifiable third-party security audits or formal audit platform scores recorded for the standalone HEZ implementation. Although the project has no documented record of hacks, smart contract exploits, or regulatory enforcement actions, the HEZ token remains fully retired and migrated.