Chris Whinfrey
0xD770
May 5th, 2022

Hop was built to be core Ethereum infrastructure and serve as a public good. We’re decentralizing the governance of Hop Protocol by turning it over to Hop DAO where it can be community owned and operated.

Hop DAO

Hop DAO will govern the ongoing growth and direction of Hop Protocol. Over the coming weeks, our team at Hop Labs will be transitioning control of Hop Protocol to the DAO. The Hop DAO will govern day-to-day functions including:

  • The layer-2 networks and non-Ethereum chains that Hop supports
  • The tokens that can be bridged with Hop
  • The Bonder whitelist
  • The distribution of $HOP incentives
  • Grants for facilitating the growth of the Hop ecosystem
  • Management of the treasury funds
  • Ongoing funding for Hop Labs and other service providers
  • And more ✨
Chris Whinfrey
0xD770
May 3rd, 2022

Almost two years ago, DeFi summer was roaring, and Ethereum gas prices were hitting debilitating heights. We watched as the users of our wallet, Authereum, were getting priced out and leaving for cheaper but often more centralized chains. It had become increasingly clear that Ethereum needed to scale as soon as possible.

Early Days

We had already integrated Authereum with several existing L2s but quickly realized our approach wouldn’t scale for the masses. After deploying an Authereum contract account on L1 and paying to bridge to L2, a newly onboarded user would be out hundreds of dollars — a deal-breaker for the average web 2.0 user. We decided we needed to onboard users directly to L2 and allow them to hop from one L2 to the next without ever touching Ethereum Mainnet and started to ideate on L2 bridge solutions.

Later that year, Vitalik released his A rollup-centric Ethereum roadmap post reinvigorating the Ethereum community. Rollups could provide immediate relief while Ethereum continues to scale underneath them. This approach also allowed many independent teams to experiment with different scaling approaches and serve different use cases. Most exciting for us, the post called for exactly what we were building.