StableNode Delegate Communication Thread

ENS name: stablenodegov.eth
Forum Usernames: @Bobbay & @Kene_StableNode

StableNode will communicate reasonings for each of ours votes within this thread. You can find our delegate application here.

[Temperature Check] HIP 7 - AMM and Bonder Liquidity Incentives

Vote: Yes
Rationale: This will help retain or attract bonders since bonder activity isn’t attractive in its current state. However, this is not a long-term solution, but provides ample time to find a more attractive solution for the Protocol.

Hop Proposal Bundle: HIPs 0-7, SNX/sUSD Bridging Support

Vote: Yes
Rationale: We support each proposal within this bundle. We weren’t participants in Hop governance during their SnapShot vote, but believe each one adds value to Hop. We have broken down our reasons below.


[Temperature Check] HIP 0: Hop Mission Statement and Success Framework: A mission statement is essential for the DAO to understand their specific goals

[Temperature Check] HIP 1: Deploy a HOP bridge: A bridge to various networks will help Hop accumulate users, esp with Hop Labs, providing the initial support; this is an easy yes.

[Temperature Check] HIP 2: Explore Private Sale Legal Options: This is only a request to explore legal options, which will help make an informed decision if the conversation goes any further. Nothing controversial here.

[Temperature Check] HIP 3: Hop Governance Incentives: Since Hop governance is early, this is a good way to attract participants in writing proposals.

Fast bridging support for SNX and sUSD: Win-Win for both Synthetic and Hop here.

[Temperature Check] HIP 4: Delegate Incentivization Trial: Delegates need some form of comp to maintain continuous activity, so it will be interesting to see how this plays out, esp since Hop is so early in its governance days

[Temperature Check] HIP 6: Deploy a HOP bridge on Arbitrum Nova: I can see them gaining a lot of traction, with a focus on gaming and social media. Happy to support this.

[Temperature Check] HIP 7 - AMM and Bonder Liquidity Incentives: Hop needs more bonders, so some rewards would be attractive, but it is a significant amount. Open to seeing how it plays out and reviewing it in a few months.

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

Vote: Yes

Rationale: We voted YES on this proposal, the HOP and ETH trading rewards that would accrue to community Multi-Sig is an obvious upside to this proposal.
Currently, we see a downside to this, however, it is important we follow up on how these HOP and ETH proceeds will be used.

[HIP 9] Should the Hop community fund a grants program?

Vote: Yes

Rationale: We voted Yes to this proposal because we believe that a well-managed grants program is a key ingredient to the ecosystem development Hop is looking to build over time.

[Temperature Check] HIP 10: Deploy HOP bridge on zkSync

Vote: Yes

Rationale: We voted Yes to this proposal because it would support faster bridging across rollups, and bring the protocol closer to its goal of improving rollup composability.

[HIP 11] Fast bridging support and co-incentives for sUSD and SNX

Vote: Yes

Rationale: The entire crypto ecosystem is powered by trustless technology that incentives individuals to perform certain tasks, we voted Yes to this proposal because we believe that this is a good incentive that could create value for the Hop Protocol.