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Hop is a bridge that connects Ethereum with Layer-2 networks, allowing users to send tokens quickly across networks instead of waiting for multiple days. The Hop protocol architecture consists of two core components. Firstly, there is a cross-network Hop bridge token that can be easily and economically transferred between Layer-2 networks or claimed on layer-1 for its underlying asset. Secondly, there are Automated Market Makers that facilitate the swapping of each Hop bridge token with its corresponding Canonical Token on each rollup. This enables dynamic pricing of liquidity and incentivizes the rebalancing of liquidity across the network.

Issue Time
1970/01/01
Initial Price
US $ 0.04662295
Circulation/Max
0/1,000.00M
Dominance
0.00%
ROI --%
$0.04662295$0.30147305
Low · 2023/07/132023/07/13 · High

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What is Hop protocol?

Hop is a protocol designed to facilitate quick and trustless token transfers across rollups and the shared layer-1 network. While rollups can enhance the scalability of the Ethereum network, they often create isolated environments for their applications. As a result, transferring assets between rollups and the layer-1 network becomes slow and expensive, offsetting the benefits of using rollups. The Hop protocol enables seamless asset transfers from one rollup to another, reducing costs and enabling cross-rollup composability of applications.

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