Hop Protocol protocol
Overview
Hop Protocol operates as a cross-chain bridge, employing an automated market maker (AMM) framework to enable token transfers across Ethereum rollups and sidechains. The system allows asset movement between layer 2 networks and the Ethereum mainnet, eliminating the need for a central intermediary.
Within The Counterparty graph, Hop Protocol connects to 1 tracked entity, most strongly to Hop DAO.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 1 of 1 total).
| Relation | Connected entity | Confidence |
|---|---|---|
governs | Hop DAO | 85% |
Questions on the record
What are hTokens?
Hop issues intermediary cross-network bridge tokens, designated hETH and hDAI, that users can transfer across rollups and later redeem for the corresponding base asset.
Which networks does Hop support?
Hop facilitates asset transfers among Ethereum, the rollups Optimism and Arbitrum, and the sidechains Polygon and Gnosis.
What is the HOP token for?
HOP serves as the governance token for Hop DAO, enabling holders to vote on protocol improvement proposals.