Community Call meeting minutes

🗳Meta-Governance
22

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
23

Meeting Minutes [May-29]

Update on ARB LTIPP Hop application

  • Hop’s application for the Arbitrum LTIPP program was accepted and they’re 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.

  • Binance’s 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
24

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 DAO’s 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
25

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.
  • 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
26

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
27

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
28

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
29

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.
  • Franco’s 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.
30

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 Hop’s 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