Cross-chain bridge Hop Protocol (HOP) market research

1. Project introduction

By offering customers liquidity through market making in exchange for a nominal charge, Hop Protocol's AMM-based Bonders enable users to easily perform cross-chain transactions. In order to address this issue, Hop Protocol creates hToken (such as hETH, hDAI, etc.) as an intermediary asset across Layer 2 and also establishes an AMM-type DEX, called Hop Exchange, across various Layer 2 networks. This allows hToken to be freely exchanged for other assets that are based on the specific network. The ability to move Tokens from one network to another is eventually made possible by the open exchange of Tokens.

Hop Protocol currently enables cross-chain transactions between Polygon, Ethereum Layer 1, and Ethereum Layer 2. As a star network, all transfers are settled using Layer 1's ETH, while Layer 2 issues the fabricated hToken.

Assets locked at layer 1 can be redeemed via hToken, and layer 2 hTokens are destroyed after redemption. When a user transfers hTokens between Layer 2 networks. For example, when an hToken is transferred from Optimism to Arbitrum, the Optimism hToken is destroyed and generated on the Arbitrum network. Trade HOP with MEXC Global.  Compared to other HTLC (Hashed TimeLock Contract) type cross-chain bridge schemes, Hop's Bonder schemes perform faster transactions.

2. Tokenomics

The initial supply of HOP is 1 billion.

8% for airdrops to early users;

60.5% for the treasury;

22.45% for the initial development team, (3-year vesting, 1-year cliff)

2.8% for future teams;

6.25% for investors, (3-year vesting, 1-year cliff)

3. Investors

In 2021, Authereum raised $1.1 million in the seed round, led by Coinbase Ventures, Synapse Capital, and other institutions.