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Hop Protocol project will hold a free distribution of its tokens

Hop Protocol project will hold a free distribution of its tokens

The popular cross-chain bridge that links Ethereum to other blockchains releases a new altcoin and distributes it partially to users.

According to an official statement, the altcoin enables the creation of a decentralized autonomous organization Hop DAO.

Hop is a cross-chain bridge that connects Ethereum with other Ethereum Virtual Machine-compatible blockchains. For example, Ethereum users can transfer funds between Polygon and Gnosis networks, as well as second layer blockchains like Arbitrum and Optimism. Since launching in 2021, Hop has processed more than $2 billion in transfers.

The HOP token issue will amount to 1 billion, of which 8% will be allocated for distribution to bridge users and those who have deposited their funds into liquidity pools. Users are defined as those who have sent more than $1,000 between networks and made more than two transactions. 92% of tokens will be allocated for various bridge development funding goals over the coming years.

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