Difference between revisions of "Hop Protocol"
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=== Does Hop have a token? === | === Does Hop have a token? === | ||
Hop | Yes, Hop has announced a governance token (HOP). <ref>https://twitter.com/HopProtocol/status/1522284534598967300</ref> | ||
=== Canonical Token === | === Canonical Token === | ||
Latest revision as of 10:51, 1 August 2022
Hop is a scalable rollup-to-rollup general token bridge. It allows users to send tokens from one rollup to another almost immediately without having to wait for the rollup’s challenge period.
What are hTokens
The “h” tokens are a cross-network bridge token that is transferred from rollup-to-rollup and are claimed on the layer-1 for the underlying asset. It is an intermediary bridge token that allows trustless swaps.
Does Hop have a token?
Yes, Hop has announced a governance token (HOP). [1]
Canonical Token
The canonical token (also called "native token") is the Layer-1 token that is being bridged on Layer-2. For example, DAI token on Layer-2 is the canonical token of DAI token on Layer-1. Users can send back and forth between Layer-1 token and Layer-2 representation of that token using the Layer-2’s official token bridge.