Great notes Greg! Just to be clear, the LTI program application hasnāt been made or submitted yet as the Arbitrum DAO is currently voting on the LTI program.
1 Like
Thanks Franco. Updated the minutes
1 Like
Meeting Minutes [Jan-24]
- Franco discussed the Delegate Incentivization Program, suggesting automatic six-month extensions unless the DAO decides to cancel or change it.
- Regarding redelegation, a public push will be initiated to increase ecosystem health by encouraging integral community members to take on more votes.
- rxpwnz community moderator compensation proposal was positively received and will be moving to the next phase.
- The launch of the V2 protocol was discussed, with emphasis on the importance of preparing the DAO for this event. Various issues need to be addressed, including protocol liquidity, risk management, treasury management, and growth strategies.
- Chris was unable to attend the meeting due to illness
- There is continued work on preparing all parts of the system to scale for a fully decentralized V2.
3 Likes
Meeting Minutes [Feb-7]
- Discussed HIP43 proposal to create Head of DAO Operations role, which has passed the snapshot stage. An election process will take place soon for the role.
- Discussed the Community Moderator Compensation passed by rxpwnz. This role is not up for election immediately but could be in the future. rxpwnz is to collect addresses of other community moderators for bonus distribution.
- Talked about the Treasury Diversification and Protocol Owned Liquidity presented by four-poops. A vote is live for this with a slight change in numbers due to the dip in HOP token prices.
- Discussed the Arbitrum LTI grant program worked on by Bob-Rossi, Franco, and 0XLev1. Considered requirements including KYC and ongoing reporting through a Dune dashboard.
- A community member with the relevant skills is needed to create the Dune dashboard to ensure ongoing reporting for the program.
- Lastly, Franco discussed the need for renewing the Delegate Incentive Program, with a proposal for increased incentives suggested. The community is encouraged to comment on this.
- On the technical side, Hop v2 contract functionality is nearly complete and testing phase is starting. The team is starting peripheral and off-chain components and deployment will go live on Testnet before Mainnet.
- The background infrastructure has been updated for future scalability and speed. This is expected to alleviate any infrastructure work at a later time.
6 Likes
Meeting Minutes [Mar-7]
-
HIP44 Treasury Diversification Vote: A vote is currently open on Tally regarding the sale of Arbitrum tokens to fund expenses and incentivize participation. This is separate from the protocol liquidity proposal.
-
Treasury Management Discussion: Needs a more organized approach, specifically addressing liquidity management. A questionnaire was shared to gauge urgency and importance on various aspects of treasury management.
-
Separate Session on Liquidity and Treasury: Proposed to focus on liquidity protocol and treasury management, aiming for a more detailed discussion.
-
Multi-Sig Signers Update: The new cohort has shown efficient coordination and responsiveness. A payment system and refund for gas expenses spent on transactions are being set up.
-
RFC Hop Grants Committee Renewal: Suggests restructuring with new member roles, compensation, and improved funding caps for projects, awaiting community feedback.
-
Developer Update from Authereum Labs: Progress on Hop v2 contracts and off-chain infrastructure. Plans for a USDC bridge upgrade to integrate Circle CCTP directly, aiming for cheaper and more efficient transactions, preparing for migration from v1 to v2.
-
Discussion on Migration to L2 for Voting: Acknowledged the challenges and potential risks of moving Hopās governance to an L2 to mitigate high gas costs. Alternative suggestions include ratification vote mechanisms and cross-chain governance concepts, but concrete actions are yet to be determined.
4 Likes
I was late to the call so I wasnāt around when the grants committee renewal discussion took place. Is there a place to provide feedback on what has been discussed other than this old post?
Not that iām aware of so any thoughts regarding the grants committee pls share them in that old thread post.
Meeting Minutes [Mar-20]
- The application for the Arbitrum LTI program, led by BobRossi, has been submitted. The Arbitrum council will make their decision, followed by the DAOās delegate vote.
- Thanks were given to those who helped with the application and it was mentioned that the application template could be used for future applications.
- The grants committee renewal and redesign plan is stagnating. Suggestions and critiques are sought to move it forward.
- The on-chain vote for Treasury Diversification for Ongoing DAO Expenses (HIP44) passed and itās hoped that increased participation will follow.
- A Treasury Management Framework call has been set up for Friday to brainstorm details.
- The Hop Delegate Incentivization Trial (HIP46) renewal passed with emphases on automation and reporting for voting and communication requirements.
- A proposal for launching Hop on NeoX, Neo EVM, Mainnet by NeoX has been tabled.
- The upgrade of the USDC bridge to CCTP has launched. This move supports native USDC and the upgrade to Hop V2.
- Development of the Hop V2 contracts are in progress. The testing of the off-chain V2 infrastructure is going well.
- Education and marketing of Hop V2 is important and the DAO will aid with its messaging.
- The gas reimbursements from the delegate incentive trial will be in Hop not ETH due to the current lack of ETH funds.
3 Likes
Meeting Minutes [Apr-3]
Grants Committee Renewal and Redesign
- The Grants Committee proposal is currently stagnant.
- A workshop will be held next week April 10 to brainstorm ideas for the committeeās renewal and redesign.
- The goals are to attract high-quality applicants and distribute grants effectively.
- Community participation is encouraged in the upcoming workshop. See discord event details.
Protocol Financial Stability
- 0xLevi presented his RFC on Protocol Financial Stability (Part 1).
- The goals are to ensure sustainable cash flow for the DAO and improve HOP token liquidity.
- The next steps include finalizing Part 2 of the RFC and gathering community feedback.
- Potential areas of focus include liquidity management strategies and a liquidity bootstrapping program.
Delegate Reporting Thread
- There is a question about the calculation frequency for delegate rewards (monthly vs. per reporting period).
- Participants suggested keeping the calculation to a single instance for the reporting period (likely quarterly) to simplify the process with delegate reporting.
Developer Update
- Significant progress has been made on V2 development.
- The off-chain infrastructure (front-end, explorer, etc.) for V2 is complete.
- On-chain contract development is progressing well, with a focus on transaction simulations.
- More information on V2 tokenomics will be shared soon.
Action Items
- Participate in the Grants Committee workshop next week.
- Review Leviās RFC on Protocol Financial Stability and provide feedback.
- Stay tuned for updates on V2 development and tokenomics.
2 Likes
Meeting Minutes [May-4]
Hop Delegate Reporting Thread is finalizing numbers
- Vesting period for delegate rewards discussed, feedback welcome
- Requests for separated gas reimbursements shared
Update on ARB LTIPP Hop application
- Waiting for KYC resolution from Arbitrum Foundation
- Discussing potential multi-sig KYC for grant recipients
Hop single-sided liquidity proposal discussed
- Aims to improve liquidity and attract high-quality individuals
- Questions regarding appropriate rates and structure
- Additional comments encouraged in the Governance Forum
Grants Committee renewal and redesign proposal
- Discussion on Committee compensation and optimizing the structure
- Flexibility and potential models for compensation considered
- Encouraging more comments on the Governance Forum before moving to a Snapshot vote
Treasury Management Framework proposal
- Draft strategy is in development
- Focused on sustainable cash flows and reducing slippage
Developer update
- V1 stabilization and V2 development progress
- Working on the SDK interface for developers and integrators
- Continued input and feedback appreciated
1 Like
Meeting Minutes [May-29]
Update on ARB LTIPP Hop application
-
Hopās application for the Arbitrum LTIPP program was accepted and theyāre in the KYC process with AuthereumLabs. Funds are expected next week.
-
A Dune dashboard is being developed to align with Arbitrum LTIPP program requirements.
Hop single-sided liquidity proposal discussed
-
Single-sided liquidity proposal by Hameed is continuing. Feedback is being gathered before progressing to a snapshot vote.
-
Binanceās initiative to tackle the high FTV low float issue was mentioned. Hop is considering applying but needs to ensure the application requirements can be met.
Grants Committee renewal and redesign proposal
- Phase 1 of the Grants committee program renewal proposal to be posted on snapshot within the next 24 hours.
Hop Delegate Reporting Thread
-
Delegate gas cost reimbursements for tally voting are being calculated and will be distributed with the next cycle rewards.
-
A plan to standardize governance calendars and snapshot vote periods was discussed.
Developer update
- The developer update focused on improving efficiency at scale and the implementation of V2 functionalities. Readme and docs have been optimized for the distributed bonder setup for quick deployments and updates.
- Work on the V2 architecture of bonders is progressing, with implementation on the V1 bonders imminent to preemptively identify issues.
- A relay page was added to the front end to manage incorrect fees or stuck transfers easily and manually, providing a streamlined process for handling bad transfers.
- Updates were made to V2-specific logic on different components of Hop, preparing for a smooth migration from V1 to V2 when the switch occurs.
3 Likes
Meeting Minutes [June-26]
- Arbitrum LTIPP Application Update:
- Program started recently, with approximately 4,000 ARB tokens used daily.
- Expecting full ARB utilization if the current rate continues.
- Incentives are deployed daily, with boundary fees and gas rebates every 28 days.
- Comments on Incentives:
- Initial 28-day cycle prorated to 14 days.
- Gas data needed for a complete usage picture.
- Incentive program success hinges on full ARB deployment.
- Grants Committee Program:
- Only two nominees so far; the deadline is extended by a week.
- Importance of the grants program in Hop DAOās ecosystem emphasized.
- Encouraged more community members to apply and share nominations.
- Rewards for Magic on Arbitrum Nova:
- Suggestions to discontinue incentives due to low usage.
- Consideration of administrative overhead costs to do so vs outlay.
- Consensus to maintain incentives until V2 rollout.
- Further discussion to continue in the forum.
- Developer Update by Shane:
- V2 Bonder architecture implemented and tested.
- V2 SDK updated based on feedback.
- V2 Explorer and other off-chain tooling receiving updates.
- V2 contracts implementation ongoing.
- Discussion on public communication of progress.
- Community Engagement:
- Highlighted importance of keeping Hop narrative active.
- Calls for more frequent communication to maintain momentum.
- Encouraged community feedback and support for promotional efforts.
5 Likes
Meeting Minutes [Jul-10]
- Grant committee nominees:
- RXPWNZ:
- Long-term contributor to Hop, over three years.
- Background in community support, technical contributions.
- Emphasizes grants that benefit Hop protocol directly.
- Suggests focusing on technical contributions and utilizing messaging with V2 release.
- ChaseOnChain:
- Newer member to Hop DAO.
- Background in product and marketing for P2P loan protocol, NFT projects, community management.
- Experience in both receiving and distributing grants, including technical and marketing initiatives.
- Advocates for supporting builders and bringing in new talent.
- Alexios:
- Long-term but less active recently, early liquidity provider.
- Experience with dYdX grants, including SEO, community management, marketing.
- Emphasizes the need for marketing the grant program itself and establishing a professional, perhaps more private, application process.
- RXPWNZ:
- Chris provided development updates:
- Latest version of Hop V2 being deployed, enhancing routing through multiple chains.
- SDK to be updated, preparing for audits and mainnet deployment within the next six months.
- Shane is representing Hop at EthCC in Brussels.
3 Likes
Meeting Minutes [Jul-24]
Grants Committee Discussion
- Congratulations to Rxpwns, ChaseOnChain and BobRossi for winning the Grants Committee election.
- Proposal to have an open call later in the week to discuss RFP list creation and outreach initiatives.
- Coordination for a time to discuss details further.
- BobRossi and other attendees agreed on a need for improved grant committee operations.
ARB LTIPP & Hop Grants Update (BobRossi)
- Updates shared via governance forum.
- Dashboard created to track usage.
- Spent 104,000 ARB tokens primarily for incentives and bonder/gas rebates.
- Encouragement to continue messaging for increased usage.
- Potential follow-up social media post/tweet suggested.
Collaboration with Berachain - (Homme co-founder)
- Expressed interest in integrating with Hop.
- Shared positive remarks about Hop and the potential collaboration.
- Discussion about frequently asked questions and integration possibilities.
Proposal from Contrax (Soheeb)
- DeFi platform aiming to simplify user experience.
- Special mention of Contrax vaults integrated with Hop.
- Proposal for collaboration with Hop for mutual benefit.
- Encouraged the community to evaluate and respond to the proposal.
V2 Developer Update
- Current focus on contract logic simplification and consolidation.
- Token mechanics and front-end/sdk updates underway for V2 support.
- Emphasis on ensuring readiness for protocol deployment.
3 Likes
Meeting Minutes [Aug-7]
ARB LTIPP Hop Application Update - BobRossi:
- About a month left for the ARB tokens usage.
- 183,000 ARB tokens used out of 500,000.
- Encouraged people to use tokens or they will be given back.
- Low gas fees currently, benefitting end users.
Grant Committee Update:
- Brainstorming ideas internally and externally.
- Technical grants deferred until V2 release.
- Focus on marketing grants and rewards programs over short-term.
- Suggested creating metrics dashboard for better data tracking.
- Encouragement for community ideas and feedback.
Development Update:
- Contract side simplified for security and ease of use.
- V2 bonder logic running on production with V1 contract interactions.
- SDK demo page improved for easier testing by integrators.
- V2 tooling and finance improved with bug fixes and optimization.
Follow-Up Questions by Sinkas:
- Inquiry about ARB token sales and USDC usage.
- Questions about HIP-040 proposal not being executed.
- Discussion on DAO treasury management and liquidity provision.
- Suggested better tracking and reporting of DAO operations.
3 Likes
Meeting Minutes [Aug-21]
Multi-sig Election:
- The second cohort of multi-sig signers has been more efficient compared to the first.
- Current multi-sig signers include theGreg, RXPWNSs, FourPoops, Olympio, and the Francom.
- Importance of either re-electing the current group or opening up for new nominations.
- Encouragement for anyone interested to nominate themselves in the Governance Forum.
- Compensation details for multi-sig signers were clarified.
Arbitrum LTIPP Update:
- The Arbitrum grant is nearly completed with about 35% of ARB tokens used.
- Program expires in early September.
- Bob Rossi and Shogun were commended for their collaborative efforts.
Grants Committee Update:
- The Grants Committee is working on an RFP list, which needs a final polish before public sharing.
- Collaboration proposals in the pipeline aiming to involve more users.
- Upcoming engagement with grantees and community members expected.
V2 Developer Update:
- Emphasis on progress in routing functionality for multiple chains.
- Fresh deployment testing for improved efficiency.
- Anticipation for revealing more details shortly.
Service Provider Relationship and Compensation:
- Discussion on the delayed launch and its impact on service provider payments.
- Ethereum Labs has been operating with a smaller team and reduced payments, requiring realignment moving forward.
- Expectations for DAO to evaluate the work once details are shared and possibly adjust compensation accordingly.
2 Likes
Meeting Minutes [Sept-4]
Hop DAO Multisig Nominations:
- Nominees mentioned: ChaseOnChain and Sinkas.
- Olympio will no longer be part of the multisig.
- Snapshot vote for the new nominee will be set up soon, likely a straightforward process.
ARB LTIPP Program Wrap-up:
- Discussion on the conclusion of the ARB LTIPP Program.
- 85% of the granted 500,000 ARB tokens were utilized, largely for AMM and onboarding fees.
- Return of unused funds and potential retroactive compensation for contributions, particularly for key contributors like BobRossi and Shogun.
Grants Committee RFP List Updates:
- Updates from ChaseOnChain and RXPWNS on the final stages of the RFP list.
- Discussion on publicizing the RFP list through various channels to increase engagement.
- Coordination needed with Shane and Chris for access to official communication channels.
Delegate Incentive Program and Head of DAO Operations:
- Incentive program rewards are set to be distributed soon, after a six-month lock.
- Francoās term as head of DAO operations ended on August 28th; discussions on self-renominating and inviting others to apply.
Developer Update:
- Shane detailed progress on deploying core functionality and continued testing.
- Chris added thoughts on the simplification of deployments and additional periphery items being developed.
Meeting Minutes [Sept-18]
Grants Committee Update:
- RFP (Request for Proposals) list finalized and ready to be shared.
- A blog post to be published on Hopās Mirror and Medium accounts.
- Accompanying tweets for marketing and community engagement planned.
- Pending: BobRossi to handle forum post indicating open submissions.
- Coordination needed with Shane and Chris for posting on official channels.
- Action: Chase will share the blog post draft for feedback.
Head of DAO Operations Update:
- Role term ended on August 26.
- Open to feedback for improvement and new nominations.
- Reporting cycle for delegate incentives being processed.
- Announcement of the next reporting period covering March to present.
Delegate Incentive Reporting:
- Rewards from the last cycle to be distributed soon.
- Increased rewards with a six-month vesting period.
- Working on the next cycle, aiming to post soon.
Multisig Signer Update:
- Welcoming Sinkas as the new multisig signer, replacing Olympio.
- Coordination needed to add Sinkas to the multisig and relevant communication channels.
Developer Update:
- Focused on handling edge cases and detailed error handling for Hop V2.
- Customization options for bonders being developed to improve efficiency.
- SDK interface being refined for external users.
- Progress towards a minimal viable product, aiming for later this year.
- Upcoming audit phase once contracts are finalized.
Community Engagement:
- Encouragement to participate in Hop protocol and bridge-related discussions.
- Potential to help build hype for the V2 launch once closer to the release date.
2 Likes
Meeting Minutes [Oct-16]
Grants Committee and Outreach:
- Finalizing a promotional post for Twitter and the blog to boost grant visibility
- Limited responses received so far; ongoing efforts to increase outreach
- RXPWNS reached out to potential applicants without significant outcomes
- Anticipate more applications once the official post is live
DAO Operations and Delegate Rewards:
- Significant progress on contracts and off-chain infrastructure, targeting release by year-end
- Introduced bond/liquidity fees and message fees to enhance competitiveness
- Head of DAO Operations role still open for nominations
- Delegate rewards are nearly finalized with adjustments for token price fluctuations
1 Like
Meeting Minutes [Oct-30]
Grants Program Update
- Officially live.
- Community encouraged to like and retweet the expo for awareness.
- Timeline: 2-week application period, followed by a review period and fund disbursement.
- Applications to be submitted in groups to maintain momentum.
- Initial applications under review; potential collaboration with Dune.
- Gitcoin expressed interest in partnership for grant handling.
Head of DAO Role
- No new nominations received.
- Current host willing to continue; a snapshot vote will determine next steps.
- Importance of maintaining DAO operational processes emphasized.
Delegate Incentives Program
- Operates on six-month incentive cycles.
- Key requirements: voting participation, effective communication, and maintaining a minimum Hop Delegated Token threshold.
- Final incentive calculations being prepared for community review.
V2 Update
- Contracts are functionally complete and operational.
- Unit test suites and security measures are being enhanced.
- Bonder improvements include customization options and MPC signing for distributed custody.
- Integration completed for SDK, testnet, front end, and V2 Explorer.