The Hop Protocol project will conduct a free distribution of its tokens

Posted 09 May, 2022

A popular cross-chain bridge that connects Ethereum with other blockchains will release a new altcoin and distribute part of it among users.

The Hop Protocol cross-chain bridge will issue its own token and distribute it among users. The official statement of the project says that the altcoin will allow the creation of a decentralized autonomous organization Hop DAO.

Hop is a cross-chain bridge that connects Ethereum to other Ethereum Virtual Machine compatible blockchains. For example, Ethereum users can transfer funds between the Polygon and Gnosis networks, as well as second-tier blockchains like Arbitrum and Optimism. Since its launch in 2021, Hop has processed more than $2 billion in transfers.

The emission of HOP tokens will amount to 1 billion, of which 8% will be allocated for distribution to bridge users and those who have added their funds to liquidity pools. Users define those who have sent more than $1,000 between networks and made more than two transactions. 92% of the tokens will be allocated for various purposes of financing the development of the bridge in the coming years.

 

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