On May 6, Hop Protocol, a cross-chain bridge, officially announced that it will transform into a community-run and governed Hop DAO and officially launch its native token, HOP.

Golden Finance summarizes its native token HOP allocation and airdrop, as well as Hop DAO.

HOP Token Allocation
The total supply of HOP is 1 billion pieces.

8% airdropped to early network participants

60.5% to the Hop DAO treasury

22.45% to the initial development team (3 year release, 1 year lock)

2.8% set aside for future team members

6.25% to investors (3 year release, 1 year lock-up)

Of this amount, 8% (80 million coins) will be given to early adopters of Hop Protocol, a cross-chain bridge.

8% airdrop allocation rules
3.35% or 33.5 million for Hop Bridge users (minimum 2 bridge transactions and $1,000 volume)

2%, 20 million for liquidity providers

2%, 20 million for bondholders (1 year lock-in period)

0.1%, 1 million for the first 500 Hop Discord participants and 79 Twitter users who are early evangelists of Hop

0.05%, 500,000 to external Hop contributors

0.5% 5 million to Authereum users who have deployed accounts

Hop Protocol has now published the HOP airdrop inquiry page, http://app.hop.exchange/airdrop, and the airdrop will be open for collection in two weeks.

Once the HOP tokens are live, there will be a minimum of 6 months to claim them, after which any remaining tokens can be reclaimed by the DAO. Eligible Discord and Twitter participants who did not submit their addresses prior to the DAO going into effect will still be able to submit their addresses and receive tokens through the governance proposal at the end of the six-month period.

Of the 43,058 addresses initially eligible for the airdrop, 10,253 have been identified as witch attackers (meaning individuals attempting to create multiple account identities for spoofing and disguise) and have been disqualified from the current airdrop program. Users who report 20 or more associated witch attacker addresses before the airdrop opens for collection will have the opportunity to be rewarded with HOP Token.

HOP DAO
The Hop DAO will manage the continued growth and direction of the Hop protocol. In the next few weeks, control of the Hop protocol from the Hop Labs team will be transferred to the DAO.

The Hop DAO will manage functions including.

Hop-backed Layer 2 networks and non-Ethernet chains

Tokens that can be bridged to Hop

Bonder whitelist

HOP reward distribution

Grants to promote Hop ecosystem development

Treasury fund management

Ongoing funding for Hop Labs and other service providers

Delegation Call

The Hop DAO will initially be managed using a delegate model such as ENS. Members of the Hop community and the broader ethereum community interested in managing the long-term development and prosperity of the Hop protocol are invited to apply to become delegates. https://forum.hop.exchange/t/apply-as-a-hop-dao-delegate/32

Hop Foundation

The Hop Foundation has been established in the Cayman Islands to represent the DAO in a legal capacity. the Hop Foundation must follow any requirements of the Hop DAO as determined through a token vote, unless the requirement is deemed unlawful. the Hop DAO may also remove, replace or appoint directors of the Foundation through a token vote.

Hop Labs

Hop Labs will be the first service provider for the Hop DAO and will facilitate ongoing research, development and marketing efforts. the Hop Labs team has been working hard to stay lean and put as much of the HOP into the hands of the community as possible, rather than taking the easy option of raising large amounts of money through private sales. As such, Hop Labs will be run by Hop DAO and will rely on it for ongoing funding from the start.