Hermez Network is a decentralized zk-rollup that focuses on scaling payments and token transfers on top of Ethereum. It was founded on October 15th, 2020, and is based in Zug, Switzerland. The network selects block creators through a burn auction, where 40% of the winning bid goes back to be reinvested in Ethereum public goods through Gitcoin quadratic funding grants. This mechanism is referred to as "proof-of-donation" because a significant portion of the bid is donated to the protocols and social services that run on top of Ethereum. The network is developed by idem3.
