HOP
Hop Protocol
$0.00819100AUD
Market Cap
622.3K AUD
24H Trade Vol.
10.2K AUD
Total Supply
75.2M

Important Notice

Deposits and withdrawals are not currently available for this coin.

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Buy Hop Protocol (HOP)

What is Hop Protocol?

Hop Protocol (HOP) is a multichain bridge designed to enable fast and efficient token transfers between Ethereum and Layer-2 networks. By using a unique combination of cross-network bridge tokens and Automated Market Makers (AMMs), Hop Protocol ensures trustless and seamless token swaps across different blockchain ecosystems.

How does Hop Protocol work?

Hop Protocol operates with a hub-and-spoke architecture, where Ethereum serves as the central hub connecting various Layer-2 networks.

Key features include:

  • Cross-network bridge tokens: Special tokens such as hETH and hDAI facilitate token transfers across networks.
  • Automated Market Makers (AMMs): Manage liquidity and dynamically price swaps between native tokens and Hop tokens.
  • Hub-and-Spoke model: Ethereum acts as the central hub, connecting Layer-2 rollups like Arbitrum, Optimism, and Polygon.
  • Bonder role: Liquidity providers front assets on the destination chain, enabling near-instant transfers.

The protocol utilises smart contracts for bridge functionality, token minting/burning, and AMM operations, ensuring decentralised and secure transactions.

What are the potential use cases for Hop Protocol?

Applications:

  • Cross-chain token transfers: Quickly move tokens between Ethereum and Layer-2 networks.
  • DeFi applications: Support decentralised finance activities that require rapid asset movement.
  • Arbitrage opportunities: Take advantage of price differences across multiple Layer-2 networks.
  • Liquidity enhancement: Improve liquidity across Ethereum and its Layer-2 ecosystems.

Industries:

  • Decentralised Finance (DeFi)
  • Cryptocurrency exchanges
  • Cross-chain interoperability solutions
  • Layer-2 scaling solutions

Partnerships:

  • Integration with leading Layer-2 networks, including Arbitrum, Optimism, Gnosis, and Polygon.
  • Collaborations with projects across the Ethereum ecosystem.

What is the history of Hop Protocol?

Founding:

Hop Protocol was founded by Christopher Whinfrey in January 2021, following the publication of its whitepaper.

Key Milestones:

  • 2021: Official launch of Hop Protocol.
  • Expansion to support multiple Layer-2 networks to enhance cross-chain operability.
  • Integration with major DeFi platforms and exchanges, establishing itself as a critical piece of Ethereum’s scaling infrastructure.

Achievements:

Hop Protocol has supported over 47,000 users, enabling fast and cost-effective cross-chain transfers within the Ethereum ecosystem, making it a cornerstone for improving blockchain interoperability and efficiency.

Coin Contract Addresses

0xc5102fe9359fd9a28f877a67e36b0f050d81a3cc
0xc5102fe9359fd9a28f877a67e36b0f050d81a3cc
0xc5102fe9359fd9a28f877a67e36b0f050d81a3cc
0xc5102fe9359fd9a28f877a67e36b0f050d81a3cc
0xc5102fe9359fd9a28f877a67e36b0f050d81a3cc