What is Hop Protocol (HOP)?

Hop Protocol is a special platform where assets can be moved directly from rollup to rollup and between rollup and layer 1, providing cost savings and enabling cross-rollup composability of applications while solving the problem of resource-intensive rollup and layer 1 bridging. 

How Hop Protocol (HOP) Works

Hop Protocol lets users move tokens quickly and cheaply from one rollup to another or claim them on layer-1 by creating a cross-network bridge token that represents the underlying asset. Special automated market makers known as Bonders are then used to swap between the bridge token and the corresponding Canonical Token on each rollup. The Bonders even front liquidity for users on the destination chain, helping liquidity automatically readjust and rebalance liquidity across the network. It’s also worth noting that users can receive their funds even if Bonders are offline. To make sure the transactions are correct, Bonders run local nodes to verify state transitions on the source chain and have to lock an amount equivalent to 110% of the transfer sum as collateral for 24 hours.

How Many Hop Protocol (HOP) Tokens Are in Circulation?

HOP has 1,000,000,000 tokens in total supply and 64,107,570 of them are in circulation.

How to Buy Hop Protocol (HOP)

Consider investing in Hop Protocol (HOP)? It only takes 2 minutes to create an account on Bitget and start trading HOP. 

Check out the available HOP trading pairs on Bitget!

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HOPUSDT

Hop Protocol (HOP) Resources

Official Website

Official Documents

Official Whitepaper