Community Call meeting minutes

🗳Meta-Governance
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Meeting Minutes [May-17]

  • Carl introduced Treasure, a decentralized gaming ecosystem on Arbitrum, with a focus on creating a decentralized Nintendo.
  • Treasure has been around for 20 months and has launched a token, infrastructure, and multiple games.
  • They are number one on Arbitrum for gaming and have done close to 275 million in volume since inception.
  • The Magic token has been performing well on Arbitrum, and a partnership with Hop to bridge Magic to and from Arbitrum Nova and Arbitrum One was proposed and approved.
  • The Treasure Community voted in favor of supporting Nova.
  • The team discussed supporting Magic’s initiative with incentives and creating a framework for fair distribution.
  • Delegation Week, organized by Tally, was introduced to encourage token holders to evaluate their delegations and potentially redelegate or delegate for the first time.
  • Discussions were held on incentivizing redelegation and the possibility of mandated redelegation for effective DAO governance.
  • The team discussed the renewal of the HOP delegate incentivization program, with a focus on encouraging new delegates to participate.
  • Proposals were made for delegating ARB tokens to the Community Multisig and the newly elected ambassadors, with further discussions needed.
  • The team explored different mechanisms and frameworks for incentivizing liquidity and bridging on different assets and networks.
  • The idea of a decentralized protocol for delegates to market themselves and an opt-in incentivized program for delegation were discussed.
  • Discussions were held on the need for incentives, market share, and competitive landscape in bridging protocols.
  • The team proposed forming an incentive management committee to develop frameworks and value propositions for granting incentives.
  • The importance of creating a robust system, analyzing the marketplace, and designing parameters for awarding incentives was emphasized.
  • Progress updates were provided on the core messenger refactor and the Bonder side, with plans to go live soon.
  • Greg introduced himself and expressed interest in DAO governance and being a valuable delegate.
  • The next call was scheduled in a couple of weeks, with plans to coordinate artwork and issue POAPs.

Note: ChatGPT3 was used due to length of the call and GPT4 token limits. Please advise if anything seems inaccurate.

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Thanks for sharing Greg

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Meeting Minutes [July-12]

  • Conversation started around the Public Goods Network, and representatives from Gitcoin gave an overview of the project
  • PGN is a network dedicated to funding public goods using sequencer fees
  • Hop community can provide bridging capabilities and onboarding experience for PGN users
  • Kene discussed the reduction in the voting weight threshold for recognized delegates to make it more inclusive and encourage more participation
  • Kene also presented a proposal to renew and redesign the Hop Grants Committee to scale up involvement in developing on top of Hop technology
  • Community members discussed the importance of simplicity and inclusivity in the grants program
  • Conversation initiated on addressing Hop liquidity and potential proposals to improve liquidity for the protocol
  • Max expressed concerns about spending tokens on liquidity programs and emphasized the importance of investing in the protocol
  • Greg pointed out that liquidity providers are incentivized through Hop rewards and may go elsewhere if the price is not stable
  • Development focus has shifted to the Liquidity Network and Decentralized Bonder Network, which will be audited and deployed on testnet soon
  • Nova and Magic tokens will be supported in the upcoming deployment
  • Continued V1 support after V2 lock-ins will depend on security and feedback from the community
  • The Messenger and liquidity bridge will be deployed on testnet for testing and feedback
  • Beta testing on testnet will be conducted before the full mainnet launch
  • Dybsy suggested to involve RocketPool community in testing the Decentralized Bonder network

Note: ChatGPT3 used due to length again. Please let us know of any inaccuracies.

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Meeting Minutes [Aug-23]

  • The meeting discussed updates on the new community multi-sig signers, the Tally delegation week distribution, and the reopening of the Hop airdrop window.
  • LimeChain presented a proposal for a generalized zero knowledge-based Merkle Patricia trie inclusion proof system for the Hop protocol. This would allow Hop to provide cross-chain state proofs, making the protocol more efficient and competitive.
  • The development team has migrated everything to Foundry, which has sped up testing and deployment. They are also working on the V2 token bridge and improvements to the bonding speed.
  • The threshold for delegate incentives for active participants in Hop governance has been lowered from 90,000 Hop to 30,000 Hop.
  • The team is considering ways to gamify Hop and increase user engagement with the Hop UI.
  • A question was raised about resources for non-technical people to understand Hop V2. The team suggested checking the GitHub repo and mentioned plans to release more public documentation.
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Meeting Minutes [Sept-20]

  • JPEG Yakuza from the Clique team discussed their Optimism campaign and the use of identity oracles
  • Clique is organizing four competitions to identify power users within each DeFi category
  • The Hop community was asked if they are interested in participating in the competitions
  • The Ambassador Program was discussed, with a focus on improving engagement and communication with ambassadors
  • Suggestions were made to have ambassadors share periodic updates and have the Community Multisig run through the distribution of Hop tokens during these calls
  • Hop won the bridge week from Arbitrum Odyssey and was recognized as the most used bridge
  • The Hop dev team provided an update on the progress of the token bridge
  • The team is shifting its focus to the token bridge, now called the Liquidity Hub
  • Testnet is expected to be live later this year and Mainnet early next year
  • A new cost proposal is expected soon with a smaller budget due to operating with a smaller team
  • The SNX and sUSD bridges will no longer receive OP rewards, as decided by the Synthetix team
  • Treasury diversification was discussed, with a proposal expected for the sale of ARB tokens
  • The forum believes that treasury diversification is necessary for the DAO’s runway and development
  • The grants program will be re-elected, with a focus on recruiting individuals with technical backgrounds
  • The possibility of a multi-step process for the grants election was suggested, including nominations and recruitment
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Meeting Minutes [Oct-04]

  • Discussions were held regarding the recent posts on governance updates: Treasury diversification and the Authereum Labs engagement adjustment.
  • A multi-sig refill vote is also underway, which is a routine process that needs to be done regularly.
  • The Authereum Labs engagement was adjusted due to operating with a smaller team than expected, which resulted in under-budget operation. Their timeline for v2 has been extended as a result.
  • Emphasis was also made on compensations for moderators and members actively engaged for over a year.
  • Hop v2 is being developed focusing on the Liquidity Hub, solving some of the core bridge problems. The mainnet for v2 is expected to launch early next year.
  • Updates to the current Hop v1 bridge are underway which will also apply to v2. This will improve the bonding times, and make for quicker transfers. Expect to see changes to the frontend.
  • Hop was seen as a gatekeeper of which tokens are bridgeable. Hop v2 will remove this barrier, allowing various tokens to establish the bridge on their own.
  • The Hop community reinforced the idea of gaining more delegate power and voting power from other protocols.
  • Discussions were held regarding ways to enhance social media activity for Hop.
  • Hop has a strong reputation with developers with its trustless nature and its aggressive nature to becoming the market’s best bridge.
  • It was suggested that Hop collaborates with aggregators to emphasize the security profile of bridges, noting that user bridging decisions are often based on time or cost, not security. v2 will enhance security, eliminate potential risks, reduce capital costs, and therefore, undercut prices.
  • Hop v2 will also leverage the cost savings of subsidized bridges, native bridges, exchanges and settlement solutions like CTIP without taking on their trust assumptions.
  • Hop Incentive reports are to be presented next week.
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Meeting Minutes [Oct-18]

  • Governance updates: Authereum Labs engagement adjustment has passed, treasury diversification has passed, transaction should be executable shortly
  • Discussion around reorganizing the ambassador program to increase engagement and ownership
  • Proposal to establish a benchmark for diversification and introduce a treasury management framework
  • Proposal suggests diversifying treasury through strategic partnerships and OTC sale
  • Discussion on fees for the treasury management framework
  • Suggestions to have a direct responsible individual for each proposal and for governance operations
  • Proposal to create an ambassador working group for collaboration and idea sharing
  • Suggestion to have a budget for ambassadors and distribute monthly Hop tokens as rewards
  • Proposal to have a head of the ambassador program for guidance and support
  • Importance of accountability and ownership of proposals emphasized
  • Retroactive payment for direct responsible individuals suggested
  • Election of ambassadors may be needed based on program changes
  • V2 development progressing well, staking registry and tax-related tasks worked on
  • Speed improvements and addition of new chains discussed for V1
  • Conclusion of the meeting and plan for ongoing discussions in governance forum.
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Meeting Minutes [Nov-01]

  • Discussion on revamping the ambassador program and adding more structure to DAO initiatives
  • Franco provided an overview of the current ambassador program and its challenges
  • Proposed solutions include adding a head of the ambassador program, reducing the number of ambassadors per protocol, and implementing a more attractive incentive structure
  • Compensation for ambassadors and moderators was discussed, with suggestions for base pay and additional commissions for successful integrations
  • The idea of tying a license to the V2 contracts was introduced, similar to Uniswap’s approach
  • Legal considerations and research will be needed to implement the license
  • Updates on V2 progress, including the bonder speed update and support for Sepolia testnet
  • Delegates were encouraged to post voting and communication records for compensation calculation
  • Simplified reporting format for delegate compensation was discussed and received positive feedback
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Meeting Minutes [Nov-15]

  • The main agenda was discussing the transition from the old ambassador program to a new one, incorporating learnings from current ambassadors to improve alignment, engagement, and incentives.
  • Franco led the effort and proposed:
    • Identifying specific responsibilities for ambassadors and tying them to compensation.
    • The initial compensation was $500 per month, but there were issues with governance participation and missed opportunities.
    • The proposal includes compensating ambassadors for their efforts and time.
    • The next iteration of the ambassador program should adjust compensation and possibly introduce a commission-based structure (up to 10% of value brought to the DAO).
    • A head of the ambassador program could be introduced to oversee and support ambassadors.
    • Limiting the number of ambassadors per protocol to avoid “too many cooks in the kitchen.”
  • There was a consensus among ambassadors for full payment of compensation for the previous period, but it was noted that most feedback came from ambassadors themselves.
  • It was suggested that ambassadors should submit a final report to close up the program and justify compensation.
  • The importance of resolving compensation within the next 24-hour payment cycle was emphasized to avoid mid-cycle distributions.
  • The development team is working on v2 contracts and expects to have an internal Testnet soon, with a public Testnet and more information potentially available later in the year.
  • Hop v1 now supports Linea, and infrastructure improvements will allow for quicker support of additional chains so expect Polygon zkEVM, Scroll and zkSync soon
  • The bonder has increased its speed significantly, reducing wait times for finality on various chains like Polygon, Optimism, Arbitrum and others.
  • Looking ahead to post-v2 deployment, there’s interest in encouraging more distribution and long-term alignment among protocol participants, including users and contributors, potentially through staking mechanics or governance participation.
  • The meeting concluded with an open invitation for further thoughts on the forum and a reminder of the next community call in two weeks.
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