Winding down of SNX and sUSD bridges and their HOP Incentives

TLDR - The Synthetix team is concluding their current incentives program after this cycle. Alongside this, they will also discontinue their role as bonders for SNX and sUSD bridges on Hop V1, effectively ceasing support for the existing bridges. The team aims to reallocate these bonder assets to the bridges on Hop V2, which will be much more efficient and optimized for these low-volume bridges.


The Sythetix team is ending OP distributions given to them during Phase 0 of the Optimsim Airdrop. This means that they are ending the incentives put in place for the SNX and sUSD bridges, per their two successful proposals (Fast bridging support for SNX and sUSD and Fast bridging support and co-incentives for sUSD).

These proposals request that Hop DAO match $HOP incentives with their $OP incentives. With their incentives ending, there will be nothing to match and the Hop DAO should also cease to continue the incentive program.

Since these bridges on Hop V1 are already relatively low-volume and low-TVL, the removal of incentives will further constrain these bridges in the form of much lower throughput and higher fees for users. Because of this, the Synthetix team plans on winding down the SNX and sUSD bonder. The bonder will continue to run for some time after the incentives end in order for people to fully exit the system


There are no actions needed at this time. The community multisig will simply not send incentives to the bridge starting next cycle. The Hop website will be updated to support bridges that are in the process of, or have completed, winding down.