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
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)
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.
If you have read one of our earlier airdrop guides, you would have been notified early about this potential Hop Protocol airdrop!
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