TechFlow News, May 6 — According to official announcements, cross-chain bridge Hop Protocol has announced the establishment of Hop DAO and the issuance of its token HOP, with a total supply of 1 billion tokens. Of these, 60.5% will be allocated to the Hop DAO treasury, 22.45% to the initial development team (3-year vesting with a 1-year lock-up), 6.25% to investors (3-year vesting with a 1-year lock-up), and 8% will be airdropped to early network participants.
The airdrop breakdown includes 3.35% for users of the Hop Bridge (requiring at least two bridge transactions and $1,000 in transaction volume), 2% for liquidity providers, 2% for Bonders (1-year lock-up), 0.1% for the first 500 Discord participants and 79 Twitter users, 0.05% for external Hop contributors, and 0.5% for past Authereum users with deployed accounts. The snapshot date was April 1. Additionally, the team stated that out of the initial 43,058 addresses eligible for the airdrop, 10,253 have been identified as Sybil attackers and removed from distribution. Over the next two weeks, the project will accept reports of previously undetected Sybil addresses, rewarding reporters with 25% of the saved tokens.
