Francom Delegate Communication Thread

đź—łMeta-Governance
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Temperature Check HIP 0: Mission Statement & Success Framework

Recommendation Vote: Yes. This framework emphasizes Hop’s core values (security, trustlessness, and community ownership) and will help guide community decision making.

Temperature Check HIP 1: Deploy a HOP Bridge

Recommendation Vote: Yes. Since HOP’s token is new, it is important to increase the tokens availability to further decentralize governance.

Temperature Check HIP 2: Explore Private Sale Legal Options

Recommendation Vote: Yes. This proposal is to pre-authorize the Hop Foundation to perform this kind of activity without a vote in the future. I believe its an efficient way for the Hop Foundation to secure funding over the medium term.

Temperature Check HIP 3: Hop Governance Incentives

Recommendation Vote: Yes. This proposal incentivizes high quality proposals which are imperative for the long term growth and sustainability of the Hop Community.

Proposal: Fast Bridging Support for SNX and sUSD

Recommendation Vote: Yes. Synthetix is one of the DEFI pioneers and currently has aligned incentives where Hop can become the bridge of choice for Synthetix assets moving between Optimism and Ethereum.

Temperature Check HIP 4: Delegate Incentivization Trial

Recommendation Vote: Yes. Governance takes time and resources consistently therefore I believe it’s important to continually support delegates to remain focused on Hop. Francom co-authored this proposal with GFX Labs and Fig.

Temperature Check: HIP 6 Deploy a Hop Bridge to Arbitrum Nova

Recommendation Vote: Yes. Hop should be an important component of Arbitrum Nova’s infrastructure as Nova builds for a new segment of L2’s user base.

Temperature Check HIP 7- AMM and Bonder Liquidity Incentives

Recommendation Vote: Yes. Bonders and Liquidity Providers are an integral part of Hop and while these roles are somewhat centralized currently (specifically bonders) it is important to support greater volume to reach a point where usage and fees can be further decentralized.

Hop Proposal Bundle: HIP’s 0-7; SNX/Susd Bridging Support

Recommendation Vote. Yes. While bundling proposals is far from ideal governance these proposals passed with an overwhelming majority and were stuck in a backlog therefore this seems like an efficient step at the moment.

Hip 8: Direct Velodrome veNFT votes to a WETH/HOP pool

Recommendation Vote: Yes. Prioritizing this pool makes sense as it captures greater value for Hop Protocol compared to the previous pool.

Temperature Check HIP 9: Should the Hop Community Fund a Grants Program?

Recommendation Vote. Yes. A targeted grants program will help foster growth that specifically adds value to Hop Protocol.

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HIP 8 Direct Velodrome veNFT votes to a WETH/HOP pool

Recommendation: Vote Yes.

I believe Velodrome veNFT votes are well suited to be directed to a WETH/HOP pool in order to increase HOP liquidity. Additionally, multi-sig signers managing a limited scope of Hop’s interests should add efficiency without overexposing the protocol.

For the snapshot vote results click here

HIP 9 Should the Hop community fund a grants program?

Recommendation: Vote Yes.

Individual grants should attract talent and foster further innovation in the community for the benefit of the protocol. The committee’s scope is defined and limited in size therefore it’s a great way to experiment growing the protocol without risking many resources.

For the snapshot vote results click here

HIP 10 Deploy HOP bridge on zkSync.

Recommendation: Vote Yes.

ZkSync is one of the most technically advanced L2 protocols with the potential of further scaling Ethereum transactions. By integrating with zkSync, Hop will enhance their L2 market share which should strengthen network effects.

For the snapshot vote results click here

HIP 11 Fast bridging support and co-incentives for Susd and SNX

Recommendation: Vote. Yes

The initial phase of this proposal passed but it lacked clarity in terms of co-incentives especially for Susd. I believe it is important for Hop to align itself with top DEFI pioneers such as Synthetix to further solidify its place as a core part of Ethereum infrastructure therefore bootstrapping sUSD seems like a good move to enhance network effects.

While this proposal didn’t pass because many within the community felt that Hop’s token incentives were too high compared to Synthetix’s, it might be worth to re-explore in the future if SNX and Susd pools usage drops dramatically.

For the snapshot vote results click here

HIP 12 How should HOP compensate Multi-Sig Signers.

Recommendation: Vote Yes.

Multi-sig signers are an integral part of the protocol with ample responsibility and have been performing well, therefore to ensure continued quality and resources from multi-sig signers I believe they should be compensated sooner rather than later. While the amounts are somewhat arbitrary, I think it’s a good starting point to strengthen the protocol’s relationship with signers and this HIP can be amended if needed.

For the snapshot vote results click here

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HIP 13 Updating Voting Frameworks for Community Governance

Recommendation: Vote Yes.

There is a need to update and clarify the governance process by modifying the voting framework to allow flexible and responsive decision-making. This proposal separates the framework into three categories that range from simple (allowing the multi-sig to work autonomously) to more complex (such as changes being made to the core Hop Protocol or executable code is attached to the vote).

For the snapshot vote results click here

HIP 14 Hop Protocol Roadmap

Recommendation: Vote Yes.

This next phase of the Hop Protocol opens it up for an ecosystem to be built on top with four modules that will enable cross-chain functionality (Messaging, Token Transfers, NFT Transfers, and Omnichain Tokens).

For the snapshot vote results click here

HIP 15 Engage Authereum Labs as Service Provider

Recommendation: Vote Yes.

I believe it is beneficial for the DAO to enter into a standard service provider agreement Authereum Labs as they have been instrumental in the development of Hop Protocol and they need resources to grow their team and continue improving the roadmap and frontend.

For the snapshot vote results click here

HIP 16 Fees and Commitment to Public Goods Funding

Recommendation: Vote Yes.

The DAO committing to share revenue to fund public goods sends the right message to the Ethereum and overall crypto community that we recognize we are standing on giants’ shoulders and believe in furthering open, decentralized collaboration.

For the snapshot vote results click here

HIP 17 Deploy Hop bridge functionality on the ConsenSys zkEVM rollup

Recommendation: Vote Yes.

ConsenSys has proven to be a forward-looking group creating several successful infrastructure tools for the Ethereum community. It makes sense for Hop to bridge the Protocol between the ConsenSys zkEVM and other chains in the Ethereum ecosystem to further cements itself as a key piece of cross-chain infrastructure.

For the snapshot vote results click here

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[RFC] Refill the Hop Community Multisig with funds from the Hop DAO

Recommendation: Vote Yes.

The Hop Community Multisig should be refilled to continue efficient distributions from the Hop DAO to Hop’s active stakeholders such as Bonders, Liquidity Providers, Multisig Signers and Delegates.

For the snapshot vote results click here

Fast bridging support and co-incentives for sUSD

Recommendation: Vote Yes.

Synthetix’s stablecoin (Susd) is the most widely used stablecoin on Optimism therefore providing bridging support and incentivizing Susd liquidity providers should solidify Hop’s position as the go-to bridge for the Synthetix stablecoin on Optimism.

For the snapshot vote results click here

HIP 20 Community Multisig Operations for the Hop DAO

Recommendation: Vote Yes.

This proposal outlines a process for nomination, election, and compensation of multisig signers for the Hop DAO Community Multisig. This proposal adds clarity to the process for joining and participating in the Hop DAO multisig.

For the snapshot vote results click here

HIP 21 Hop DAO Ambassador Program

Recommendation: Vote Yes.

Hop DAO Ambassadors will participate in DAO Governance across the ecosystem on behalf of Hop Protocol. Increasing participation in the ecosystem will be vital for establishing key partnerships and identifying opportunities for possible integrations. The pilot phase of this program will start with Optimism because OP Governance Power has been delegated to the Hop DAO.

Disclaimer, I participated in creating this proposal with @kene_stablelab @bobbay_stablelab and @max-andrew

For the snapshot vote results click here

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HIP 22 Reopen HOP airdrop claim window

Recommendation: Vote Yes.

This token distribution has already been accounted for and will support Hop’s early users that were unable to submit their address before the deadline.

For the snapshot vote results click here

HIP 23 Proposal to deploy Hop on Scroll zkEVM

Recommendation: Vote Yes.

This proposal aims for Hop Protocol to deploy on Scroll for Goerli Launch and will enhance Hop’s mission of scaling Ethereum’s ecosystem and connecting Ethereum to the broader multi-chain world.

For the snapshot vote results click here

HIP 24 Voting System Choice for Hop DAO Elections

Recommendation: Vote: Weighted Voting

It is crucial for the DAO to have a particular voting system in place for the DAOs upcoming elections for Community Multi-Sig and the Hop DAO Ambassador Program. Weighted voting will be an easier implementation that allows for multiple winners as these elections will not be a winner takes all election.

For the snapshot vote results click here

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HIP 25 Lito Departure

Recommendation Vote: YES

I support the mutual decision of ending Lito’s working relationship with the Hop DAO

For the snapshot vote results click here

For the tally vote results click here

Temperature Check Hop Liquidity

Recommendation Vote: No Change - Leave as-is

While there is slippage when trading HOP at the moment, this proposal appears to aim towards incentivizing pool liquidity which I believe is not a great use of resources since HOP is solely a governance token.

For the snapshot vote results click here

HIP 26 RETH Fast Bridging

Recommendation Vote: YES

Rocketpool is one of the most important staking players in the Ethereum ecosystem. This integration makes Hop the first fast bridge to support a liquid staking derivative, rETH.

For the snapshot vote results click here

HIP 27 Polygon zkEVM

Recommendation Vote: YES

Polygon has been one of the first scaling solutions to integrate with Hop leading to increases in users and community members on both sides. Due to the symbiotic relationship thus far, I believe integrating with Polygon’s zkEVM will continue to solidify Hop’s place as a pillar of cross-chain infrastructure.

For the snapshot vote results click here

Optimism Ambassador Election

I voted for MaxAndrew because he is a very active delegate having received Hop DAO’s first grant .

I have been elected to serve as an ambassador on Optimism too.

For the snapshot vote results click here

Arbitrum Ambassador Election

I voted for MaxAndrew (50%) and Frisson (50%) who has immense governace experience being a part of Tally.

I have been elected to serve as an ambassador on Arbitrum too.

For the snapshot vote results click here

Rocketpool Ambassador

I voted for Dybsy because he has been a valuable delegate since the DAO’s inception and he has a strong relationship with the Rocketpool community.

For the snapshot vote results click here

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Claim ARB airdrop, create Arbitrum and Optimism community multisigs, and delegate tokens to Ambassador Multisigs

Vote: YES

Delegating the tokens to the ambassador multisigs is a necessary step for ambassadors to be able to represent and exercise Hop’s voting power on Arbitrum and Optimism.

For the snapshot vote results click here

HIP Refill the Hop Community Multisig with funds from the Hop DAO

Vote: YES

The community multisig needs to continuously be funded for several months in advanced as it is a crucial component of DAO operations.

For the tally vote results click here

HIP 29 MAGIC Fast Bridging Support

Vote: YES

MAGIC needs bridging support to move funds from Arbitrum One to Arbitrum Nova and vice-versa. By executing this proposal Hop is in a leading position to be the go-to solution for bridging within the Arbitrum ecosystem.

For the snapshot vote results click here

HIP 30 HOP Airdrop Sybil Hunter Distribution

Vote: YES

The Hop core team pioneered a creative way to oppose airdrop farmers by creating a sybil hunter program which led to the DAO keeping almost 3.5 million HOP tokens that otherwise would have gone to sybil attackers. As per the plan, enough time has passed and the tokens should be distributed to the successful participants.

For the tally vote results click here

HIP 34 Hop DAO Multisig Signers Elections

Vote: YES

I voted equally for Rxpwnz, Max-andrew, Thegreg.eth, Fourpoops, and Olimpio as they have consistently participated in DAO activities and demonstrated that they are strong community members.

For the snapshot vote results click here

HIP 35 Reducing recognized delegate voting weight requirement

Vote: 30,000 HOP

With the goal of increasing DAO governance participation, I believe reducing the Hop voting weight to 30,000 HOP tokens to be eligible for delegate compensation will hopefully incentivize more delegates to spend time on improving HOP DAO governance.

For the snapshot vote results click here

HIP 36 Launch Hop on Base Mainnet

Vote: YES

BASE, built by the Coinbase team, will likely increase L2 usage by leveraging Coinbase’s strong brand and user network, therefore both Hop and Base stand to benefit through this launch by sharing users.

For the snapshot vote results click here