Trading activity:
Reported 24-hour volume equals 0.03% of market capitalization. The local markets snapshot lists Uniswap V3 (Arbitrum One) among venues with observed trading activity.
YearBull indicators:
YearBull Rank #815. Bull Score 85/100.
YB Market Risk Low. This relative market-volatility label is not an investment-safety assessment.
Cycle Early. Observed price change: 24h 0.00% · 7d 0.00% · 30d 22.29%.
Values are descriptive and should be read together rather than as a price forecast.
Read the YearBull methodology.
Snapshot date: 2026-10-27.Data history: 72 daily observations available in the latest 90-day window.
Methodology responsibility:
YearBull’s analytical methodology and presentation rules are developed and maintained by
Alan Zelvin, Founder & Lead Crypto Researcher.
This note identifies responsibility for the methodology; it does not attribute authorship of this data snapshot.
What is Hermes Protocol Token?
Source description
“What is the project about? Hermes DEX main goal is to let users and other decentralized protocols exchange both volatile assets (DAI to WETH for example) and stablecoins (DAI to USDC for example) through it with low fees and low slippage. Unlike exchanges out there that match a buyer and a seller, the behavior of Hermes is different, it uses liquidity pools like Uniswap. To achieve this, Hermes needs liquidity (tokens) which is rewarded by those who provide it. Hermes is non-custodial meaning the Hermes developers do not have access to your tokens. What makes your project unique? Stable coins have become an inherent part of cryptocurrency for a long time but they now come in many different flavors (DAI, TUSD, MIM, BUSD, USDC and so on) which means there is a much bigger need for crypto users to move from a stable coin to another. Centralized exchanges tend to have high fees which are problematic for those trying to move from a stable coin to another. As a result, Hermes Protocol has become the best place to exchange stable coins because of its low fees and low slippage. And Hermes also allows swaps with volatile assets. History of your project. Hermes Protocol officially launched in February 2022 and started emissions in March 2022. What’s next for your project? Introducing Yield and Concentrated Unified Liquidity Omnichain Marketplaces. Hermes V2 will offer multiple defi services compared to V1, while improving capital efficiency and user experience: - Bridge-less omnichain environment, powered with concentrated (Uni V3) and unified liquidity. - Decentralized Uniswap V3 Liquidity Management. - Uniswap V3 Liquidity Incentives. - Refined ve(3,3), becoming a fungible ERC-4626 - Improved UX and UI - Omnichain Yield marketplace What can your token be used for?”
This source-supplied description may contain old, promotional, or unverified claims and is not YearBull editorial analysis.
Hermes Protocol Token project facts
Source tags: Arbitrum Ecosystem
Recorded networks: Arbitrum One
Official links and contract records appear in Key Facts. Project details can change, so verify current information with the project.
Hermes Protocol Token FAQ
How does Hermes handle trades differently from an order-book exchange?
Hermes uses liquidity pools rather than matching individual buyers with sellers. Users and decentralized protocols can exchange volatile assets, such as DAI and WETH, as well as stablecoins, such as DAI and USDC. The project positions this pool-based model as a way to support low-fee, low-slippage swaps, although actual trading conditions can vary by pool liquidity and market activity.
Why does Hermes focus on stablecoin-to-stablecoin swaps?
The project highlights the growing number of stablecoins—including DAI, TUSD, MIM, BUSD, and USDC—as a reason users increasingly need to move between different stablecoin formats. Hermes presents its low-fee, low-slippage design as particularly useful for these transactions, while also supporting swaps involving volatile assets. The project says this focus addresses limitations it associates with centralized exchange fees.
What role do liquidity providers play in the Hermes protocol?
Hermes requires token liquidity in its pools to facilitate swaps. Users who provide that liquidity are rewarded according to the project’s model. Hermes also describes itself as non-custodial, meaning its developers state that they do not have access to users’ tokens. The specific reward rates, risks, and fee structure are not specified here.
What governance powers are associated with staking HERMES?
According to the project, staking HERMES produces veHermes, which gives liquidity providers governance-related powers. These include participating in decisions about adding new gauges, boosting gauge yields, and voting on token emissions. veHermes holders can also receive bribes. The project says its planned refinement would make ve(3,3) fungible through the ERC-4626 standard, but implementation details are not specified.
What changes are planned for Hermes V2?
Hermes says V2 is intended to expand beyond its first version with yield and concentrated unified liquidity omnichain marketplaces. Planned features include a bridge-less omnichain environment using concentrated and unified liquidity, decentralized Uniswap V3 liquidity management, Uniswap V3 liquidity incentives, an improved user interface and experience, and an omnichain yield marketplace. These are presented as planned developments rather than established capabilities.
Hermes Protocol metric comparison
This comparison is a stored snapshot generated 2026-10-24 06:30 UTC from 248 daily observations available from 2025-12-30 through 2026-10-24. It is separate from the latest analytical cards above. Percentiles compare the snapshot value with that day's analytical universe; a higher percentile means a larger observed value, not necessarily a better investment characteristic.
Metric
Snapshot
30d before
90d before
Change vs 30d
Universe percentile
Price
$0.00017735
$0.00015156
$0.00023605
+17.0%
n/a
Market cap
$28.4K
$24.4K
$38.1K
+16.7%
P14.9
YearBull Rank
n/a
n/a
#4,566
n/a
n/a
Bull Score
n/a
n/a
42/100
n/a
n/a
Turnover
0.03%
0.01%
0.00%
+0.0 pts
P19.8
YB Market Risk
n/a
n/a
Low
n/a
n/a
Cycle
n/a
n/a
Early
n/a
n/a
Median absolute daily movement 1.15%; distance from the highest local daily price -91.6%; circulating supply change -8.4%. These measurements are descriptive and do not predict future direction.
Editorial research. Identity, project facts, sources, and risks below belong to the dated editorial review. The live analytical snapshot above may be newer and is generated separately from stored market data.
Hermes Protocol (HERMES) is tracked under the source identifier hermes-protocol; captured categories: Arbitrum Ecosystem; recorded networks: arbitrum one.
Limits and open questions
Several unrelated Hermes Protocol projects exist; exact chain and contract identity remain unresolved.
Identity conflict
YearBull Rank timeline
Most recent YearBull Rank reading for hermes-protocol is #815.
Rank timeline (last 365 days)
Rank movement (nearest daily data).
Reading rule: lower numbers mean higher placement.
7d window: no reference point available.
30d window (2026-09-27): #5661 → #815 (up by 4846).
YearBull Rank is a relative ranking on YearBull designed to compare coins on a common scale and time window. Treat it as a directional context tool rather than a standalone verdict.
Cycle view: If the 7d is weak but 30d is strong, it can be a pullback in an up-phase.
Risk placement: Read it as "how stable is the position" rather than "how exciting is today".
Market access: If rank moves sharply, it may reflect venue mix changes rather than fundamentals.
Turnover context: If the curve jumps, check whether the cohort moved too (relative effects).
Practical note: a single point is weaker than the curve shape.
Editorial note:
This analysis was prepared by the YearBull research team under the direction of
Alan Zelvin,
Founder and Lead Crypto Researcher.
The assessment follows YearBull’s internal research methodology and editorial standards.
Methodology ·
Editorial Policy
Related Research
Continue with contextually connected profiles and category data:
Stored venue snapshot. Markets last checked: 2026-07-27. Updated on a rolling basis; no fixed refresh date is promised. Venue listings and volumes are stored snapshots, not live quotes.
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