HOP Protocol

Hop Protocol allows users to quickly and easily transfer tokens directly between layer-2s, sidechains, and layer-1 Ethereum, enabling a composable and interoperable layer-2 ecosystem for Ethereum.

It describes itself as a scalable rollup-to-rollup general token bridge, allowing users to send tokens from one rollup to another almost immediately without having to wait for the rollup’s challenge period.

Approach and methodology

In this report we are going to have a look into Hop protocol. To be more specific we are going to:

• Calculate how many unique users have bridged to L2s using Hop.
• What days in the past 6 months have seen the most volume bridged.
• Which assets have been bridged the most

In order to obtain the data required I followed the next methodology.

1. Identify Hop Ethereum Bridge address: '0xb8901acB165ed027E32754E0FFe830802919727f'
2. Filter the data from ethereum.core.ez_eth_transfers table with the previous address.
3. Identify
   1. Hop USDC Bridge address: '0x3666f603Cc164936C1b87e207F36BEBa4AC5f18a'
   2. Hop USDT Bridge address: '0x3E4a3a4796d16c0Cd582C382691998f7c06420B6'
   3. Hop DAI Bridge address: '0x3d4Cc8A61c7528Fd86C55cfe061a78dCBA48EDd1'
   4. Hop MATIC Bridge address: '0x22B1Cbb8D98a01a3B71D034BB899775A76Eb1cc2'
4. Filter the data from ethereum.core.ez_token_transfers table with the previous addresses.

Unique addresses

• 72,8k unique users have bridged to L2s using Hop.

Volume bridged

• The chart abaove shows the daily and cumulative volume bridged with HOP protocol in the last 6 months.
• We can see a great peak on 1st of June with 1952 transactions.

Most bridged assets

• The chart represents the most bridged assets using HOP protocol.
• ETH is clearly dominating the chart being the most bridged token (72%).
• The top 2 goes for USDC with 11k times used (14,7%)
• TOP 3 is Matic with 6,22%.
• Finally USDT and DAI are the less bridged assets with 3,89% and 3.25% respectively.