The Ethereum multi-chain bridge, Hop Protocol, has announced a new governance token under the Ticker HOP and an airdrop for early users. Official statement On thursday.
Token activation helps Hop to organize as a decentralized autonomous organization called HopDAO.
Hops are a popular cross-chain bridge that connects Ethereum with other EVM compatible blockchains.With the bridge, Ethereum users can use polygons Nosis Sidechains and some Layer 2 networks such as Arbitrum and Optimism. Since its launch in 2021, Hopbridge has handled over $ 2 billion in cross-chain transfers.
This move makes Hop a modern crypto project that issues unique tokens that reward early users retroactively. So far this year Optimism, Cow swap When Connext We also announced Governance Tokens along with AirDrop Plans for Early Adopters.
Reduction of airdrop farmers
Of the total HOP supply of 1 billion, Hop has allocated 8% (80 million tokens) to airdrops in multiple user categories. Of this allocation, a total of 3.35% (33.5 million tokens) was reserved for the initial users of the bridge.
Still, not everyone cut it. Only those who sent $ 1,000 or more between chains and made two or more transactions were classified as bridge users. Official Twitter post..This consisted of 43,000 Ethereum supports the team Recorded before Thursday.
This urgent criterion excluded many bridge users from airdrops, a move that Hop founders said was necessary to eliminate airdrop farmers, also known as “cybill attackers.” Airdrop farmers use small amounts of DeFi products from some wallets in anticipation of receiving rewards later.
“We set the criteria as low as possible. There were too many Sybil attackers in the $ 500 to $ 1000 range to handle, and no one except the bot farm would have got a good drop.” Chris Whifrey, founder of the Hop Protocol, said. Said On Twitter.
Rewards to bridge users are only part of the airdrop, as 4.65% (46.5 million tokens) of airdrop was given to liquidity providers, “bonders” who fixed their assets to the bridge for a year, and other early supporters. did not.
Apart from the initial airdrop, 92% (920 million tokens) will be allocated for various uses to fund bridge activities over the next few years.
Larger allocations of HOP token supplies include 60.5% moving to Hop DAO’s finances and 22.5% moving to the founding development team.Hop team Said Twitter says the remaining 9% will be used to hire future team members and investors.
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