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Hop Protocol announces $HOP airdrop

Hop Protocol, the cross-chain bridge for Ethereum and other Layer 2s, announced the $HOP token airdrop as it begins its journey to decentralize as the Hop DAO.

The newly established Hop DAO will govern day-to-day functions including:

  • The layer-2 networks and non-Ethereum chains that Hop supports
  • The tokens that can be bridged with Hop
  • The Bonder whitelist
  • The distribution of $HOP incentives
  • Grants for facilitating the growth of the Hop ecosystem
  • Management of the treasury funds
  • Ongoing funding for Hop Labs and other service providers
  • And more

Hop Token

There will be an initial supply of 1B HOP tokens distributed as follows:

  • 8% airdropped to early network participants
  • 60.5% to the Hop DAO treasury
  • 22.45% to the initial development team (3 year vesting, 1 year cliff)
  • 2.8% saved for future team members
  • 6.25% to investors (3 year vesting, 1 year cliff)

HOP airdrop

The airdrop will be distributed as follows:

  • 3.35% to users of the Hop bridge (min. 2 bridge transactions and $1,000 of volume)
  • 2% to Liquidity Providers
  • 2% to Bonders (1-year lockup)
  • 0.1% to the top 500 Hop Discord participants and 79 Twitter users who were early evangelists for Hop
  • 0.05% to external Hop contributors
  • 0.5% to past Authereum users with deployed accounts

Hop bridge users that meet the minimum requirements above will receive a base airdrop amount with a multiplier ranging from x2 to x1 based on how early they used the bridge and a second multiplier of x3, x2, or x1 for making a minimum of $3k, $2k, or $1k of transfer volume respectively.

The snapshot for liquidity providers and bonders was taken on April 1st at 12:00 am UTC.

How to claim the HOP airdrop

Step 1: Head over to the claim website and input your address or connect your wallet

Step 2: Check your HOP allocation

You currently cannot claim the HOP tokens. Once HOP token is live, there will be a minimum 6-month period to claim, after which any remaining tokens can be reclaimed by the DAO.

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