This is the inaugural on-chain vote for Hop Protocol governance. It consists of a bundle of eight proposals that successfully passed a Snapshot temperature check, and initiated by six different authors. Several proposals (HIPs 3, 4, and 7) authorize the community multisig to disburse funds. There is currently ample funding in that address, and no new HOP is required from the protocol at this time.

Please refer to the linked Snapshot poll and forum discussion for the full language of each proposal rather than relying on the brief description here.

The full list of proposals bundled for this vote are:

HIP 0: Hop Mission Statement and Success Framework HIP 1: Deploy a HOP Bridge HIP 2: Explore Private Sale Legal Options HIP 3: Governance Incentives Fast bridging support for SNX and sUSD HIP 4: Delegate Incentivization Trial HIP 6: Deploy a HOP bridge on Arbitrum Nova HIP 7: AMM and Bonder Liquidity Incentives

These proposals were all bundled together because they 1) passed overwhelmingly in Snapshot polls, 2) have no immediate on-chain executable component that could present technical risk, 3) collectively created a large backlog of governance initiatives to bring to a final vote.

Snapshot is a great tool to quickly and affordably (freely) poll token holders. However, it is not meant to set policy for the DAO. All governance must occur on-chain.

Generally, GFX Labs does not support the bundling of proposals. Experience suggests it leads to low engagement and haphazard due diligence by voters. In this case, however, the bundling was deemed appropriate due to the low risk and high consensus already mentioned.

If this proposal fails, GFX Labs will separate out those components it feels are most important and least controversial, and prioritize those for narrower votes.

HIP 0: Hop Mission Statement and Success Framework

Background

Forum Discussion: https://forum.hop.exchange/t/discussion-hop-s-mission-and-primary-success-metric/234

Discord Discussion: https://discord.com/channels/789310208413270078/988600846877065316/988614962534572072

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/0x603f0f6e54c7be8d5db7e16ae7145e6df4b439b8aac49654cdfd6b0c03eb6492

Proposal

This proposal adopts a mission statement and success framework for Hop Protocol

HIP 1: Deploy a HOP bridge

Background

Forum Discussion: https://forum.hop.exchange/t/temperature-check-hip-1-deploy-a-hop-bridge/315

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/0xd8dfe984a70f7999ee8ce31ab725fc450074b83e9c9cf515b29c2e4c783b7bfe

Proposal

Deploy a HOP bridge to Arbitrum, Optimism, Polygon, and Gnosis Chain.

HIP 2: Explore Private Sale Legal Options

Background

Forum Discussion: https://forum.hop.exchange/t/temperature-check-hip-2-explore-private-sale-legal-options/316

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/0x5ed734668ad7eb7a6080f23d6cf119379ba6ca3bbbac7de0a80cc47b2b09aca5

Proposal

Hop DAO authorizes the Hop Foundation to explore legal options and documentation so that should Hop DAO vote to conduct a private sale, the Hop Foundation is prepared from a legal perspective to execute it.

HIP 3: Hop Governance Incentives

Background

Forum Discussion: https://forum.hop.exchange/t/temperature-check-should-hop-governance-fund-bounties-on-successful-proposals/340

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/bafkreihvjb3ytkqrroouve3kwuho46ho2dz2an2oljokjwnx6lwmaekumi

Proposal

Utilize a fixed monthly allocation of HOP to incentivize successful concrete, outcome-producing governance proposals.

Fast bridging support for SNX and sUSD

Background

Forum Discussion: https://forum.hop.exchange/t/request-for-comment-fast-bridging-support-for-snx-and-susd/380

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/bafkreihioi2uoubmzc4onqxbhvfuvvngsrbbox6yesbuyhfngc5a7gmuvu

Proposal

This is a proposal for HOP protocol to offer fast bridging support for SNX and sUSD to/from Optimism and L1.

HIP 4: Delegate Incentivization Trial

Background

Forum Discussion: https://forum.hop.exchange/t/rfc-hop-delegate-incentivization-trial/376

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/bafkreic3hu4fhna7lfyecwvvasfqccygzhpkvw2zu4mihzglccwa5om6ii

Proposal

This trial program aims to attract and retain both entities and individuals who will actively participate in governance on behalf of HOP token-holders.

HIP 6: Deploy a HOP bridge on Arbitrum Nova

Background

Forum Discussion: https://forum.hop.exchange/t/request-for-comment-deploy-a-hop-bridge-on-arbitrum-nova/344

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/0x3df21f676877e7c87311ef6cb6864abd865d2e58a2613d6f10dd291b4f5dbce6

Proposal

Deploy a HOP bridge on Arbitrum Nova.

HIP 7 - AMM and Bonder Liquidity Incentives

Background

Forum Discussion: https://forum.hop.exchange/t/request-for-comment-amm-and-bonder-liquidity-incentives/352

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/bafkreicliwx2wt4rnjbappi4yyk4z2qrh224guatw7z3uo3wwh7ruekeee

Proposal

LP Incentives 2,000,000 HOP per month

Bonder Incentives 800,000 HOP per month