Community Call meeting minutes

Meeting Minutes [Apr-16]

  • Grants Committee Transition:
    • New grants multisig transfer from previous committee in progress, awaiting final signatures.
    • Existing grant payouts temporarily delayed until multisig transition completes.
    • New signers (ChaseOnChain, BobRossi, Takeabreath) to familiarize with Safe interface.
  • DAO Operations Election:
    • Head of DAO Ops role expired Feb 26; election process to reopen for transparency.
    • Current head (Franco) willing to continue but supports open nominations.
  • Hop V2 (Rails) Development:
    • White paper published; internal audits ongoing.
    • Audit funding: Optimism grant denied (TVL criteria), negotiating with OpenZeppelin, Spearbit, Consensys Diligence.
    • Key innovation: Peer-to-peer liquidity settlement via state attestations + decentralized bonder network for instant transfers.
    • Testnet contracts/SDK live but not public until audit completion.
    • Mainnet target: Single-bonder launch first (security focus), then open network.
  • Community Engagement:
    • Atomist (Castle Labs founder) introduced interest in governance participation.
    • Community discussion needed for HOP liquidity strategies (e.g., protocol-owned liquidity, CEX listings).
    • FourPoops suggested incentivizing cross-chain liquidity via Hop Grants post-V2 launch.
3 Likes

Meeting Minutes [Apr-30]

  • Head of DAO Operations Election:
    • Nominations open for 6-month term role with vested compensation.
    • Three options: new nominee, re-elect current holder (Franco), or eliminate role.
    • Community feedback requested via Hop Forum.
  • Delegate Incentive Program Updates:
    • Current formula includes 30k HOP delegation minimum and 75% participation threshold.
    • Proposal to simplify: 50% communication/voting for full rewards, 100% for 2x multiplier.
    • Feedback welcomed on framework adjustments.
  • V2 Development:
    • Audit process ongoing with multiple firms; final selection pending.
    • Simulation testing and contract optimizations progressing.
    • Target completion by end of Q2 2025.
  • Ethereum Ecosystem Impact:
    • Discussion on Ethereum L1 scaling efforts potentially boosting L2 innovation.
    • Highlighted Jevons Paradox relevance (increased efficiency drives higher usage).
  • Grants Committee:
    • RFP list available but open to community suggestions.
    • Encouraged projects to engage with Grants Committee via Hop Forum.
5 Likes

Don’t you mean Q2 2025?

1 Like

updated. thanks @Zilch496

2 Likes

Hop Community Call [May-14]

  • Delegate Incentive Program Discussion:

    • Current program saw only 6 delegates qualify, averaging ~$300 in HOP tokens over 6 months.
    • Low participation attributed to bear market, token performance, and anticipation of V2.
    • Proposed changes: simplify voting metrics, adjust vesting, and increase base incentives.
    • Philosophical debate on DAO’s role post-V2 (governance vs. tokenomics changes like staking HOP for bonders, fee switch value accrual).
  • Grants Committee Update:

    • Grant Safe transition delayed due to technical issues with Gnosis Safe ownership swap (UI bug/edge case).
    • RxPwns and ChaseOnChain resolving; no critical concerns.
  • Head of DAO Ops Nominations:

    • No new nominees; current head open to continuing but encourages fresh candidates.
    • Paid role with vested HOP tokens; community urged to nominate/refer candidates.
  • V2 Development Progress:

    • Audit phase expected to take ~1 month post-engagement.
    • Mainnet launch targeted post-audit, contingent on resolving findings.
    • LPs must migrate funds from V1; announcement planned to ensure user awareness.
    • Miguel (key contributor) departing, but audit process remains on track.
  • Regulatory/Market Context:

    • Positive regulatory shifts (e.g., clearer U.S. stance on securities) seen as beneficial.
3 Likes

Hop Community Call [Jun-11]

  • Delegate Incentive Program:

    • Proposed changes to simplify the program; feedback requested to revive engagement.
  • Hop Grants Committee Multi-sig Update:

    • Signer transition from old to new cohort delayed due to unresponsive signers.
    • RXPWNS resolved technical issues; new signers need to finalize transactions for Safe swap.
    • Next steps: Top up new Safe with HOP tokens to enable grant distributions.
  • Head of DAO Ops Nominations:

    • No new nominees; encouragement for fresh candidates to diversify perspectives.
  • Hop Rails V2 Development:

    • Internal audit progressing smoothly with no major issues identified.
    • Third-party audit by Hexens (6 auditors) scheduled for June 23:
      • Split into two parallel teams (3 auditors each): messenger and Rails contracts.
      • Audit duration: 3 weeks, targeting mainnet launch late July/early August.
    • V1 Infrastructure Wind Down:
      • All V1 routes (except HOP and ETH) deprecated; frontend updates reflect changes.
      • Liquidity pool incentives halted; users directed to check status page for updates.
  • Additional Notes:

    • Future Gitcoin grant eligibility possible post-V2 launch, using V1 TVL for initial criteria.
4 Likes

Hop Community Call [Jun-25]

  • Hop Rails Mainnet Preparation:
    • Audit start delayed to June 30th (3-week duration), targeting mainnet launch late July/early August.
    • Team focused on documentation, internal audits, and front-end updates to support auditors.
    • Audit report will be published on GitHub and shared via Discord/governance forum post-launch.
  • Tokenomics Update:
    • Detailed post planned pre-mainnet to explain staking requirements for bonders, value capture mechanisms, and HOP redistribution.
    • Emphasis on aligning incentives for governance participants and token holders.
  • Grants Committee:
    • RXPWNS confirmed grants multi-sig setup complete.
    • Pending 2M HOP transfer from community multi-sig (transaction to be prepared).
  • V1 Audit Context:
    • Previous Hop Protocol audits conducted by Trail of Bits and Solidified (reports available on GitHub).
  • DAO Operations Election:
    • Nomination process paused until after Hop Rails mainnet launch.
  • Next Steps:
    • Team to prioritize auditor support during June 30-July 21 audit window.
    • Tokenomics education materials and governance updates expected pre-mainnet.
3 Likes

Hop Community Call [Jul-9]

  • Grant Application Process:
    • Community Grants Safe configured with 2,250,000 to 1,500,000 HOP tokens distributed.
      • Transactions initiated for Holand’s T-shirt application and theGreg’s retrospective grant.,
      • ChaseOnChain confirmed successful execution of grants-related transactions.,
  • Hop Rails Development Update:
    • Audit underway, code handed off to auditors 1.5 weeks ago (50% progress).
      • Initial issues flagged for review; front-end development ongoing for launch with limited paths.,
      • Plan to test Rails in production, expand paths, enable permissionless token bridging, and deploy the Decentralized Bonder Network.,
      • Rebranding focus: Maintaining Hop as the core brand; UI refresh integrated into rolling launch.,
  • Bonding Network:
    • theGreg requested documentation on bonding processes; no official docs released yet, pending Bonder Network rollout.,
  • DAO Operations:
    • Head of DAO Operations re-election and Delegate Incentivization Program paused due to minimal voting activity.
3 Likes

Hop Community Call [Jul-23]

  • Audit Update:
    • Audit completed; no critical issues found in core Hop Rails protocol or messenger.
    • Identified minor fixes: staking registry adjustments and Polygon connector comment.
    • Auditors praised code quality of core components.
  • Mainnet Launch Timeline:
    • Targeting launch in ~2 weeks, pending final cleanup and transition of Miguel’s responsibilities.
    • Launch will initially support limited paths and a single Bonder.
  • Frontend and Bonder Network Development:
    • Frontend transitioning from V1/V2 hybrid to V2-only codebase.
    • Decentralized Bonder Network architecture will maintain V1 interface externally but implement V2 optimizations internally for scalability.
    • V1-style functionality preserved for initial launch to ensure stability.
  • Tokenomics:
    • New V2 tokenomics framework finalized conceptually but awaiting documentation.
    • Will be released after mainnet launch but before full Bonder decentralization.
    • Reward distribution mechanisms will follow V1’s Merkle drop model, with staking registry (handling Bonder stakes) included in audit scope.
4 Likes

Hop Community Call [Aug-20]

  • V2 Development Progress:
    • Frontend simplified for efficiency with V1 learnings applied to Hop node infrastructure
    • SDK optimized for Day 1 integration support (Sockets, Coinbase, MetaMask)
    • Contract audits finalized with all identified issues resolved
  • Audit Publication:
    • Plan to publish completed audit report before mainnet release
  • Tokenomics Timeline:
    • Documentation to be released post-mainnet launch to avoid delays
  • Mainnet Target:
    • Roughly 1 month timeline estimated for deployment pending final testing
3 Likes

Hop Community Call [Sep-03]

  • Hop Rails Development Update:

    • Transfers now being tested from frontend through rails on testnet.
    • Bonder node development unblocked and progressing alongside SDK (stable state).
    • Frontend delays due to legacy code removal/refactoring for long-term scalability.
  • Technical Design Considerations:

    • Non-upgradable smart contracts confirmed (independent of interface design).
    • SDK interface optimizations being implemented for developer experience.
2 Likes