Proposal: Deploy Hop on Public Goods Network (PGN) Mainnet
Point of Contact: Nicole dāAvis, TG: @enidavis, email: nicole [at] gitcoin [dot] co
TLDR
We are proposing to deploy the Hop Bridge to the Public Goods Network, an L2 OP Chain that will use the vast majority of net sequencer fees to fund and support public goods.
Proposal
As we continue to experiment with the most advanced mechanisms in distributing public goods funding, we must also advance mechanisms for generating abundant and legitimate funding. The Public Goods Network (PGN) will be a digital schelling point for those who want to support public goods at large. With backing from a growing community of public goods maxis such as Public Nouns, Clr.fund, Giveth, Hypercerts, Protocol Labs, Octant and Gitcoin, the network will align efforts and resources. The Public Goods Network is a new L2 OP Chain, a highly composable EVM compatible rollup, with the vast majority of net sequencer fees going back to supporting public goods in the Ethereum ecosystem and beyond.
We propose to the Hop community to deploy the Hop Bridge to the Public Goods Network mainnet. Deploying the Hop Bridge on PGN will substantially expand the impact and reach of the network by providing trusted legitimacy in depositing and withdrawing assets from this emergent chain. Deploying the Hop Bridge will also strengthen the relationship between the Hop community and the global regen community focused on funding public goods.
Motivation
The following are additional details and reasoning behind why we recommend this proposal:
-
As the first L2 deliberately dedicated to directing net sequencer fees to public goods, and designed to be a neutral network not solely governed or owned by any one organization, PGN has the potential to be a dominant chain for public goods transactions, as well as builders who want to support public goods by filling block space.
-
PGN internally deployed mainnet on July 11, and will announce publicly after EthCC. Alongside PGNās native bridge, Hop will be one of the first professional-grade bridges deployed on PGN. As an early participant, this allows Hop Protocol to be a key player in the future of PGN and the alliance of supporting organizations, securing a critical market share in this network.
-
PGN is built on the trusted, tested EVM compatible Optimism chain, following the success and testing of Base and the Zora Network.
-
As a trusted bridge, Hop Protocolās participation will also have the opportunity to signal the credibility and flexibility of PGN by enabling multiple assets to be bridged and supported in a credibly neutral way.
Partner Details
This proposal is being made on behalf of the Public Goods Network, by Nicole dāAvis, Protocol Lead, and Kyle Weiss, Exec Director of The Gitcoin Foundation.
Since 2017, Gitcoin has been building solutions that enable communities to build, fund and protect what matters to them. Through the Gitcoin Grants Program, theyāve distributed over $50M to early stage builders championing projects across DeFi, climate, open source and beyond. They partner with some of the most impactful organizations fueling the future of open source software and public goods
Potential Risks
Because PGN is an OP chain, built using Optimismās well-tested frameworks, deploying on PGN should not pose substantial technical risk. PGN has predominantly used standard OP code via their SDK, which has been audited, and tested by other similar and recently launched L2s such as Base and Zora Network. For this reason, there is minimal technical risk.
Given this is a new chain, it is possible the overhead to deploy and support PGN may not be worth the value it creates for the Hop Network. This is a risk that the PGN team is laser focused on mitigating by ensuring there is sufficient demand for the PGN network, but also demand to bridge to the network on a regular basis.
Helpful Links
Site: https://publicgoods.network/ (includes link to network docs)
Mainnet Bridge: PGN Bridge