DYOR Crypto Wiki
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After great community collaboration DYOR has rebranded into CryptoWiki.me 🥳 a moment to celebrate!

From now on all new information will be added within the CryptoWiki.mecommunity website! No longer over here. So be sure to move over to stay on top of new research developments!

Same content - better & cleaner experience 🤝

DYOR started out in 2015 on Fandom and has now grown to ~3500 pages on CryptoWiki.me 🤩

All the information that you can find in these pages is public knowledge with sources provided. The community is encouraged to add truthful and unbiased entries to further this body of work.

Follow @cryptowiki_me on Twitter to be up to date on pages being created or edited.

Basics

  • Started in / Announced on: 29-1-2021
  • Based in:
  • Mainnet release: says (23-3-2021) it will go live in April. Hoptimism went live (25-8-2021).
  • Hop is a protocol for sending tokens across rollups and their shared layer-1 network in a quick and trustless manner. It is a multi-chain bridge connecting Ethereum to various scaling solutions like Arbitrum, Optimism, Polygon, and xDAI (13-10-2021).
  • From their whitepaper (29-1-2021):

"A protocol for sending tokens across rollups and their shared layer-1 network in a quick and trustless manner. Rollups have the potential to scale the Ethereum network, but each rollup creates a siloed environment for its applications. Moving assets between rollups and the layer-1 network is slow and expensive, diminishing the savings users gain by using the rollup. The Hop protocol allows assets to be moved directly from rollup to rollup, providing cost savings and enabling cross-rollup composability of applications."

History

Governance

Admin Keys

DAO

Treasury

Audits

  • Bug bounty program can be found [insert here].
  • From their blog (23-3-2021): "The Hop contracts are currently being audited"

Bugs/Exploits

Token

Launch

Token Allocation

Utility

Other Details

Stablecoin

Coin Distribution

Technology

How it works

"Hop uses hTokens (hETH, hUSDC, etc.) which are essentially IOU's backed by collateral on L1 which can instantly be transferred between networks with the help of Hop Bonders. The AMM's are used to convert hTokens into canonical tokens like USDC or ETH in the final step of every transfer."

Fees

Upgrades

Staking

Liquidity Mining

Scaling

Interoperability

"Hop just unveiled the first “fast bridge” for moving funds between Ethereum and Optimism. Remember, a big previous concern about ORU L2s was that their withdrawal periods were going to take ~7 days. Notably, then, this new Hop resource lets users “transfer assets in and out of Optimism in minutes.”

Different Implementations

Other Details

Privacy Method

Compliance

Oracle Method

Their Other Projects

DEX

  • From Our Network (18-12-2021):

"Hop Exchange is a cross-L2 bridging protocol. The project uses “bonders” (essentially LPs) to front liquidity on a cross-chain AMM for trading fees; L2 canonical tokens are exchanged for Hop Bridge Tokens, which can be swapped for the underlying asset on L1 or a different L2 token. It supports Ethereum mainnet, Polygon, xDai, Optimism, and Arbitrum."

Roadmap

  • Can be found [Insert link here].

Usage

"Total Hop users recently grew to 35k+. The exchange saw ~$23m in volume over the past week and over $300m total since its launch in late June. Hop TVL is now tracking around $120m across multiple chains. Polygon and Optimism TVL are around $11.5m; Optimism’s TVL exploded over the past few months, along with Polygon whose TVL passed its previous ATH in October. xDai saw some traction as well with 7D volume jumping ~2x, but TVL still trails behind major L2s."

  • From Our Network (13-11-2021):

"Hop passed the $100M in TVL milestone. Close to 70% of the funds are locked in Curve-like AMM pools which Hop deploys on each scaling solution it supports. The remainder is staked by “Bonders,” which are essentially market-makers underwriting transfers and fronting the liquidity at the destination chain when a user sends tokens between networks."

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

Team, Funding, Partners

Team

  • Full team can be found [here].

Funding

Partners

(:

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