Hop Protocol Logo

Hop Protocol HOP

Hop Protocol header image

1. Summary

Ranks

Liquidity
71
Developer
96
Social
92
Momentum (beta)
84
Stack Rankā„¢
87
Price
52W High price $0.07
52W High date 4th Mar 2024 (8 months ago)
All Time High (ATH) Date 20th Mar 2023 (1 year ago)
ATH Price $0.30
% From ATH -93.3%
All Time Low (ATL) Date 24th Oct 2024 (1 month ago)
ATL Price $0.01
% From ATL 81.38%
Supply & Trading Volume
Trading Volume (24h) $89,262.00
Total Supply 1.00B
Max Supply 1.00B
Circulating Supply 75.22M
Description

Hop Protocol is a trustless and fast protocol for transferring tokens between rollups and their shared layer-1 network. This multichain bridge enables users to send tokens almost instantly across networks.

Hop Protocol is a trustless and fast protocol for transferring tokens between rollups and their shared layer-1 network. This multichain bridge enables users to send tokens almost instantly across networks.

Architecture

The protocol consists of two main components:

  • Hop Bridge Tokens: These tokens can be quickly moved between layer-2 networks or claimed on layer-1 for their underlying assets.
  • Automated Market Makers: These are used to dynamically price liquidity and incentivize rebalancing across the network.

Functionality

The protocol works by leveraging Bonders, who front the liquidity on the destination chain. A user sends tokens to the Bonder on the source chain, and the Bonder sends the tokens to the user on the destination chain. To ensure trustlessness, specialized tokens called hTokens are used. hTokens act as an accounting tool and can be batched together, moved to the Ethereum Mainnet, and then to another chain. This batching process allows for fast and economical transfer.

Security

Hop Protocol's security is comparable to that of Optimistic rollups. If Bonders try to cheat, they are penalized. The protocol includes Challenge Watchers to oversee Bonders' activities, ensuring a high level of security.

Features and Benefits

  • Trustless: Hop is designed to be a trustless bridge, allowing for secure transactions.
  • Fast Transfers: Assets can be transferred almost instantly, eliminating long waits.
  • Economic Efficiency: Fees are amortized across users, making transactions cheaper as the network grows.
  • Multi-Chain Support: Hop allows cross-chain activity between various layer-2 networks, ensuring a seamless user experience.

Community and Markets

Hop is actively traded on decentralized exchanges, including Aerodrome (Base), Uniswap V3 (Arbitrum One), and Quickswap (v3). Its community continuously grows, with users and developers embracing its benefits for seamless cross-chain transactions.

2. Price

HOP

2.1. Market Performance

How does Hop Protocol's (HOP) performance compare to the median performance for assets of a similar market capitalization?

30 Day Return

60.7%

HOP

0.3%

Similar Market Cap

60 Day Return

29.4%

HOP

-0.1%

Similar Market Cap

1 Year Return

-44.7%

HOP

-3.7%

Similar Market Cap

3. Developer Activity

We're monitoring 25 Hop Protocol GitHub repos for commits, code additions and deletions. This data is factored into the Developer Rank. Because of delays in GitHub's stat processing, recent activity maybe underrepresented.

Weekly Commits (All Hop Protocol Repos)

Commits vs. The Market

  • Past 4 weeks: 104 commits vs. an average of 1
  • Past 12 weeks: 861 commits vs. an average of 8
  • Past year: 3,010 commits vs. an average of 108

Most Active Repos

Past week
Past 12 weeks
Past year
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Past 12 weeks
Past year
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Past 12 weeks
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Past 12 weeks
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Past 12 weeks
Past year
Past week
Past 12 weeks
Past year

Top Developers 2024

In total, 69 developers have contributed to Hop Protocol over the past year. Who are the most active Hop Protocol developers, by commits, over the past year?

Related Projects

Developers working on Hop Protocol also worked on these projects.

4. Social Activity

Tip: Toggle each network by clicking the name above

Historic data is only available from 22nd April 2022

Total Followers

Reddit Subscribers
Active Reddit Users (past 24h)
Discord users 28,489
Active Discord Users 1,270
Telegram Users
Twitter followers 124,572
5. News

No recent news found.

7. More Information

Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:

Website https://app.hop.exchange/
Explorer https://etherscan.io/token/0xc5102fe9359fd9a28f877...
Twitter @HopProtocol

What is the correct contract address for Hop Protocol?

Base 0xc5102fe9359fd9a28f877a67e36b0f050d81a3cc
Xdai 0xc5102fe9359fd9a28f877a67e36b0f050d81a3cc
Ethereum 0xc5102fe9359fd9a28f877a67e36b0f050d81a3cc
Polygon-pos 0xc5102fe9359fd9a28f877a67e36b0f050d81a3cc
Arbitrum-one 0xc5102fe9359fd9a28f877a67e36b0f050d81a3cc
Optimistic-ethereum 0xc5102fe9359fd9a28f877a67e36b0f050d81a3cc

Has Hop Protocol been audited for security?

No security audits found for this project.

Are you the owner of Hop Protocol? Edit it here

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