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🚨 Alpha Alert: Hop Protocol Airdrop

Everything you need to know about the Hop Protocol airdrop!
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May 5, 20224 min read

Dear Bankless Nation,

Is L2 summer here yet?

Last week, Optimism launched their airdrop (full interview here).

Today, Hop Protocol announced the launch of Hop DAO and a $HOP airdrop to all early users.

This Alpha Alert tells you everything you need to know about the HOP airdrop. 🦘

Let’s get into it.

- Bankless Team


ALPHA ALERT: Claim your $HOP airdrop


📺  TUNE INTO HOP PROTOCOL DAO LAUNCH


Claim your $HOP Token Airdrop

  • Alpha: Check the eligibility for HOP airdrop
  • Asset: HOP
  • Eligibility: Users who made a minimum of 2 bridge transactions and $1000 of volume across the Hop bridge, liquidity providers, bonders, social media evangelists, and more (full details here)
  • Distribution: 8% of the total supply
  • Details: Claim your HOP airdrop
  • ROI: Depends!

Hop is positioning itself as a core infrastructural service on Ethereum, facilitating cross-chain transfers between L2s. That means transferring assets between Optimism to Arbitrum without having to bypass the Ethereum mainnet and get hit with high gas fees.


📝 Check out William Peaster’s tutorial on how to hop between chains with Hop.

With the launch of its DAO, Hop is decentralizing its protocol’s governance in its loyal community.

HOP’s token supply is 1,000,000,000 and is distributed as follows:

  • 8% airdropped to early network participants
  • 60.5% to the Hop DAO treasury
  • 22.45% to the initial development team (3 year vesting, 1 year cliff)
  • 2.8% saved for future team members
  • 6.25% to investors (3 year vesting, 1 year cliff)
HOP token allocation via official blog

How to check your HOP airdrop eligibility

Airdrop claims are not available yet. There will be a minimum 6-month period to claim your HOP.

Here’s a step-by-step guide on how to claim your HOP tokens.

  1. Head over to the official HOP website to connect your wallet. If you're eligible, your claim details will immediately appear.

2. Review your rewards information to confirm your base rewards and multipliers. At this point, you can also use the "Check Another Address" button to review additional addresses' eligibility if you want.

Here’s what it’ll look like if you qualify for the airdrop:

3. Don't forget to scroll down and check if your Discord, Twitter, or Authereum accounts have qualified for the airdrop, too.

4. Now simply wait! The HOP token isn't live yet, so follow the Hop team's official comms in the coming weeks to stay up to date on the launch time.


🏹 Hunt Sybil Addresses to Earn HOP

The Hop team identified and removed 10,253 Sybil attackers after which, a total of 43,058 addresses qualified for the airdrop.

  • If you identify a minimum of 20 Sybil addresses, Hop DAO is rewarding those bounty efforts.
  • If you identify yourself as a Sybil attacker before someone else does, you will also receive 25% of the tokens as the original allocation.

Talk about an incentive-aligned airdrop. All details here.

Make sure to check out the Hop Protocol DAO launch with Bankless here:


Considerations

  • What if you missed this alpha? Keep leveling up on the Bankless program. Start using projects that might have future airdrops. Spend time each week learning something new. Connect with the community. You’re still early…this is a marathon not a sprint!

🙏Thanks to our sponsor

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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.


Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.Bankless writers hold crypto assets. See our investment disclosures here.

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