Hop Protocol HOP
1. Summary
- Price
-
$0.02 +2.8%
- Market Cap
- $1.24M (#3707)
- Supply
- 75.22M / 1.00B
- 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.
| Price | |
| 52W High price | $0.07 |
| 52W High date | 4th Mar 2024 (9 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) | $126,220.00 |
| Total Supply | 1.00B |
| Max Supply | 1.00B |
| Circulating Supply | 75.22M |
HOP
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
38.2%
Similar Market Cap
60 Day Return
29.4%
HOP
32.1%
Similar Market Cap
1 Year Return
-44.7%
HOP
2.0%
Similar Market Cap
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 7
- Past year: 3,010 commits vs. an average of 104
Most Active Repos
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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.
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 | 28,351 |
| Active Discord Users | 1,415 |
| Telegram Users | |
| Twitter followers | 124,572 |
No recent news found.
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... |
| @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.
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