Nội dung bài viết
Overview
Hop Protocol is a cross-chain project that allows users to transfer assets flexibly between major ecosystems in the market. Currently, Hop has supported ecosystem chains such as Ethereum, Gnosis, especially ETH L2 chains like Arbitrum, Optimism. In the future, the platform will integrate mainnet with other chains such as Coinbase’s Base, Zk Sync, Zk Evm…
Current performance
The average transaction fee of Hop Protocol received in 30 days is $744K, equivalent to the revenue of popular bridge platforms such as Stargate Finance ($769k) and surpassing Synapse ($500k).
At the same time, the increase in $HOP token price along with partnership events has helped to strongly grow users with more than 5.55k in the recent 30 days.
Internal statistics of Hop Protocol (Source: Tokenterminal)
Development team
The Hop Protocol team has not been announced much, only information about the project’s Co-Founder, Chris Whinfrey.
Hop Exchange also has other core members such as:
Miguel Mota – Co-Founder
Shane Fontainte – Co-Founder
Lito Coen – Growth
Isaas Kang – Fullstack Developer.
Investment fund & Partners
Hop Protocol raised $990,000 in Seed Round on 02/01/2020, sponsored by Coinbase Ventures, 1Confirmation, Republic Labs, and Infinite Labs at an average price of $0.006.
In addition, on 06/01/2021, the protocol also raised another $1,004,000 in strategic rounds, led by Stani Kulechov, Kain Warick, Stefan George, Sid Coelho, and some other sponsors at an average price of $0.075. Source: Coingecko
Hop protocol has also cooperated and become the first test bridge in major ecosystems such as Base (Coinbase), Consensys. Metamask also integrates Hop Protocol’s bridge on the wallet to help users transfer money more conveniently.
1/ Hop is now live on the @BuildOnBase testnet!
Interested in building on Base? The Base Ecosystem Fund is investing in early-stage products building in the Base ecosystem.
They’ve highlighted four areas for builders to explore 👇https://t.co/QBBMQD6I4R
— HopProtocol (@HopProtocol) April 3, 2023
Tokenomics
Ticker: $HOP
Contract (Ethereum):
Circulating Supply: 69,300,000
Circulating Market Cap: ~$12M Max supply: 1,000,000,000
FDV: ~$170M
The initial supply of Hop token at the time of DAO launch was 1,000,000,000 HOP and was distributed as follows:
- 8% was airdropped to early users
- 60.5% to the Hop DAO treasury
- 22.45% to the initial development team (3-year vesting, 1-year cliff)
- 2.8% for future team members 6.25% to investors (3-year vesting, 1-year cliff)
Most of the Hop supply is held in the Hop DAO treasury.
20 million tokens will be unlocked in June 2023, allocated to investors and the Hop protocol team, and will vest over a period of 3 years.
https://token.unlocks.app/hop-protocol
Roadmap
According to HIP-14, the DAO has decided to prioritize the development of V2 Core Messenger for 2023. The V1 asset bridges have proven the multi-chain infrastructure of Hop. The next phase opens up the entire ecosystem of applications built on top of it.
What is Core Messenger? Hop Core Messenger is a simple, decentralized messaging protocol that can be used to build powerful cross-chain applications.
Because original bridges can sometimes be slow, Hop Core Messenger is best used for messages requiring high reliability and security but without the need for exact time accuracy (e.g., dispute resolution, DAO governance, etc.).
Faster messaging models such as guaranteed messaging or optimistic messaging (as seen in Hop V1) can easily be deployed on Core Messenger for specific or general use cases.
What can be built on V2?
The Hop roadmap predicts a multitude of modules built on this simple and unreliable Core Messenger.
Modules will allow multi-chain functionality such as:
Messaging Token transfers NFT transfers Omnichain tokens And many other custom use cases In addition to other things, V2 will introduce a much larger economic scale as the number of messages can be added to packages as more applications are developed on top of it.
Conclusion
Hop protocol is a popular bridge project with a growing user base and transaction fees. In addition, collaboration with Metamask, Consensys, and deployment on these new Layer 2 networks will further help Hop protocol advance its position as a cross-chain bridge. The development of V2 is also worth noting as it will help increase the application of the $HOP token in the future.
