Concise Summary of Hop DAO & Protocol Q3 & Q4 2024
Hop Protocol Updates:
- Hop Protocol achieved over $6 billion in cumulative volume in 2024.
- Total value locked of roughly $37 million.
- Over 75% of the volume has been sending ETH and USDC across Ethereum mainnet, Arbitrum, and Optimism.
- HOP token liquidity of $404k with the majority being on Velodrome (Optimism) and Aerodrome (Base)
Grants Committee Updates:
- New members elected: Rxpwn, ChaseOnChain, and BobRossi.
- RFP list finalized, with outreach ongoing for increased visibility.
- Approved grants include Holand’s marketing proposal and TheGreg’s community meeting minutes initiative.
- Retroactive funding proposal by BobRossi under consideration, focusing on fair DAO contribution compensation.
ARB LTIPP Program:
- ~85% of 500,000 ARB tokens used for liquidity incentives and fee rebates.
- Remaining tokens returned, with discussions on retroactive compensation for contributors.
Developer Updates:
- Significant progress on Hop V2, including routing for multiple chains, SDK refinements, and bonders’ customization.
- Internal audits nearing completion; external audits and public deployment expected soon.
- Focus on bug fixes and long-term protocol sustainability.
Governance and DAO Operations:
- Head of DAO Operations role open for nominations; current head willing to continue.
- Multisig election completed; Sinkas joins as a new signer.
- Delegate incentive rewards prepared, adjusted for token price fluctuations.
Community and Collaboration:
- Collaboration discussions with Berachain and Gitcoin.
- Marketing efforts to promote grants and V2 launch.
- Encouragement for increased community participation in governance and outreach.
Key Announcements:
- Next community meeting scheduled for January 8, 2024, due to holiday conflicts.
This summary reflects ongoing development, governance, and community efforts to support the Hop Protocol’s growth and adoption within the Ethereum ecosystem.