{"id":62746,"date":"2022-06-10T14:35:41","date_gmt":"2022-06-10T11:35:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62746"},"modified":"2025-09-05T19:47:43","modified_gmt":"2025-09-05T16:47:43","slug":"hop-protocol-cross-chain-project-conducted-governance-token-airdrop","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hop-protocol-cross-chain-project-conducted-governance-token-airdrop\/","title":{"rendered":"Hop Protocol cross-chain project conducted governance-token airdrop"},"content":{"rendered":"<p>In the early hours of June 10, the developers of the Hop Protocol cross-chain bridge conducted an airdrop of governance tokens HOP to hand the project over to the decentralized Hop DAO.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Drop it like it\u2019s HOP.<\/p>\n<p>You can now claim your tokens ladies and gents \ud83d\udd25 <a href=\"https:\/\/t.co\/Y2t4CkEvrL\">pic.twitter.com\/Y2t4CkEvrL<\/a><\/p>\n<p>\u2014 HopProtocol (@HopProtocol) <a href=\"https:\/\/twitter.com\/HopProtocol\/status\/1534963591698427909?ref_src=twsrc%5Etfw\">June 9, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Hop Protocol is a cross-chain bridge designed to transfer ETH between the mainnet and layer-2 solutions, including Optimism, Arbitrum and Polygon.<\/p>\n<p>In May the project team announced the launch and an airdrop of the governance token.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">repost:<\/p>\n<p>There will be an initial supply of 1b <a href=\"https:\/\/twitter.com\/search?q=%24HOP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$HOP<\/a> tokens:<\/p>\n<p>\u2022 8% airdropped to early users<br \/>\u2022 60.5% to the Hop treasury<br \/>\u2022 22.45% to the initial development team (3 yr vesting, 1 year cliff)<br \/>\u2022 2.8% saved for future team <br \/>\u2022 6.25% to investors (3 year vesting, 1 yr cliff) <a href=\"https:\/\/t.co\/rQ7xcGa9ba\">pic.twitter.com\/rQ7xcGa9ba<\/a><\/p>\n<p>\u2014 HopProtocol (@HopProtocol) <a href=\"https:\/\/twitter.com\/HopProtocol\/status\/1522287499095457792?ref_src=twsrc%5Etfw\">May 5, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Back then, developers said the token issuance would total 1 billion HOP. Of these:<\/p>\n<ul class=\"wp-block-list\">\n<li>8% distributed among various user categories;<\/li>\n<li>60.5% reserved for the community treasury;<\/li>\n<li>22.45% allocated to the initial development team;<\/li>\n<li>2.8% kept for future employees;<\/li>\n<li>6.25% directed to project investors.<\/li>\n<\/ul>\n<p>For developers and investors, a three-year vesting period is provided <span data-descr=\"vesting schedule\" class=\"old_tooltip\">vesting<\/span>.<\/p>\n<p>The team classified as \u201cusers\u201d those addresses that transferred assets via the protocol to amounts over $1,000 in at least two transactions.<\/p>\n<p>From about 80 million tokens among application users, 3.35% were distributed to HOP users. The remaining assets were earmarked for liquidity providers, market makers and other community participants.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Airdrop details \ud83d\udc47<\/p>\n<p>\u2022 3.35% to users of the Hop bridge (min. 2 bridge txs and $1,000 of volume)<br \/>\u2022 2% to LP\u2019s<br \/>\u2022 2% to Bonders (1 year lockup)<br \/>\u2022 0.1% to active community members (Discord &#038; Twitter)<br \/>\u2022 0.05% to external Hop contributors<br \/>\u2022 0.5% to <a href=\"https:\/\/twitter.com\/authereum?ref_src=twsrc%5Etfw\">@authereum<\/a> users<\/p>\n<p>&#038; more<\/p>\n<p>\u2014 HopProtocol (@HopProtocol) <a href=\"https:\/\/twitter.com\/HopProtocol\/status\/1522284552017920004?ref_src=twsrc%5Etfw\">May 5, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Before claiming tokens, users had to select delegates. The developers noted that \u201cyou can delegate authority to yourself.\u201d<\/p>\n<p>According to <a href=\"https:\/\/dune.com\/hildobby\/HOP-Airdrop\">Dune Analytics<\/a>, 145,329 addresses in total were eligible to claim HOP, of which about 8% claimed the tokens. Smart contracts distributed more than 21 million HOP.<\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/hop-1024x376.png\" alt=\"\u041a\u0440\u043e\u0441\u0441\u0447\u0435\u0439\u043d-\u043f\u0440\u043e\u0435\u043a\u0442 Hop Protocol \u043f\u0440\u043e\u0432\u0435\u043b \u0430\u0438\u0440\u0434\u0440\u043e\u043f \u0442\u043e\u043a\u0435\u043d\u043e\u0432 \u0443\u043f\u0440\u0430\u0432\u043b\u0435\u043d\u0438\u044f\" class=\"wp-image-175553\" width=\"840\" height=\"308\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/hop-1024x376.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/hop-300x110.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/hop-768x282.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/hop-1536x565.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/hop.png 1874w\" sizes=\"auto, (max-width: 840px) 100vw, 840px\" \/><figcaption>\u0414\u0430\u043d\u043d\u044b\u0435: Dune Analytics.<\/figcaption><\/figure>\n<p>The low participation is explained by the fees users must pay during the airdrop and subsequent sale of assets. For most users, these operations were simply not profitable.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">lmao who just sold $17 of HOP and paid $41 in gas to do it?\ud83d\udc80<\/p>\n<p>seeerr..thank you for burning some ETH for the culture, but read gas estimations before clicking lol<a href=\"https:\/\/t.co\/USFaZPEigH\">https:\/\/t.co\/USFaZPEigH<\/a><\/p>\n<p>\u2014 Kris Kay | \ud83c\udf69 DeFi Donut (@thekriskay) <a href=\"https:\/\/twitter.com\/thekriskay\/status\/1534972256417349633?ref_src=twsrc%5Etfw\">June 9, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/hop-protocol\">CoinGecko<\/a>, at the time of writing HOP was trading near $0.15 \u2014 about 27% below the distribution price (~$0.19).<\/p>\n<p>The token airdrop enabled the team to launch Hop DAO, which will oversee the project&#8217;s development. Hop Labs will hand control of the protocol \u201cwithin the next two weeks.\u201d<\/p>\n<p>As reported in June 2022, Optimism developers distributed the native token OP among 232,000 users of the L2 solution for Ethereum.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our Telegram \u2014 news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the early hours of June 10, the developers of the Hop Protocol cross-chain bridge conducted a governance-token airdrop of the HOP to hand the project over to the Hop DAO.<\/p>\n","protected":false},"author":1,"featured_media":62747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1158,1210],"class_list":["post-62746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-airdrops","tag-cross-chain-protocols"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=62746"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62746\/revisions"}],"predecessor-version":[{"id":62748,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62746\/revisions\/62748"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/62747"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=62746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=62746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=62746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}