# Increase quorom to block spam
This proposal increases the voting quorum from 3 million tokens to 60 million tokens. This will prevent a malicious actor from attempting to take over the DAO by effectively disabling it. It is not possible to buy 60 million tokens from the market, so this value is safe. However, is is low enough such that enough of the original community and team who hold their tokens can still collaborate to reenable the voting.
# [HIP-39] Community Multisig Refill (8)
The Hop Community Multisig has continued to distribute payments for the Hop DAO to delegates, multisig signers, bonders, and AMM reward contracts (liquidity incentives).
Per HIP-15, this distribution, as well as future distributions to refill the multisig will be refilled via on-chain governance vote every other month.
HIP-18 proposed refilling the HOP community multisig with approximately 4 months of supply. Part of that proposal was to bypass the forum RFC and go straight to snapshot for subsequent refills, assuming there is no material changes to the structure.
Here is the community multisig ([https://app.safe.global/balances?safe=eth:0x60224984338DeDe521C56DEE7a09e446A5a163f4](https://app.safe.global/balances?safe=eth:0x60224984338DeDe521C56DEE7a09e446A5a163f4)) . This should be refilled with HOP to provide 4 months runway under the same logic as HIP-18.
# [HIP-39] Community Multisig Refill (7)
The Hop Community Multisig has continued to distribute payments for the Hop DAO to delegates, multisig signers, bonders, and AMM reward contracts (liquidity incentives).
Per HIP-15, this distribution, as well as future distributions to refill the multisig will be refilled via on-chain governance vote every other month.
HIP-18 proposed refilling the HOP community multisig with approximately 4 months of supply. Part of that proposal was to bypass the forum RFC and go straight to snapshot for subsequent refills, assuming there is no material changes to the structure.
Here is the community multisig ([https://app.safe.global/balances?safe=eth:0x60224984338DeDe521C56DEE7a09e446A5a163f4](https://app.safe.global/balances?safe=eth:0x60224984338DeDe521C56DEE7a09e446A5a163f4)) . This should be refilled with HOP to provide 4 months runway under the same logic as HIP-18.
"The Hop Community Multisig has continued to distribute payments for the Hop DAO to delegates, multisig signers, bonders, and AMM reward contracts (liquidity incentives)."
Perhaps, there should be a revision to these incentives.
# [HIP-39] Community Multisig Refill (6)
The Hop Community Multisig has continued to distribute payments for the Hop DAO to delegates, multisig signers, bonders, and AMM reward contracts (liquidity incentives).
Per HIP-15, this distribution, as well as future distributions to refill the multisig will be refilled via on-chain governance vote every other month.
HIP-18 proposed refilling the HOP community multisig with approximately 4 months of supply. Part of that proposal was to bypass the forum RFC and go straight to snapshot for subsequent refills, assuming there is no material changes to the structure.
Here is the community multisig (<https://app.safe.global/balances?safe=eth:0x60224984338DeDe521C56DEE7a09e446A5a163f4>) . This should be refilled with HOP to provide 4 months runway under the same logic as HIP-18.
# [HIP-44] Treasury Diversification for Ongoing DAO Expenses
This proposal is made with the same goals as the original \[RFC] Treasury Diversification 2. Updated parameters are below.
Summary
Sell 25% of Hop DAO’s ARB holdings (209,251 ARB) for USDC. This should raise approximately $408k for Hop DAO at current prices (~$1.95).
Motivation
Hop DAO will need stablecoins to cover ongoing expenses. The current and future ongoing expenses that currently exist are:
\[HIP-37] Authereum Labs Engagement Adjustment 1
Hop Community Moderator Compensation 1
Execution
The onchain execution of the proposal will send a message through the Arbitrum messenger to trigger a transfer of the ARB currently in the Hop Treasury alias 1 address to the Community Multisig. The Community Multisig can then complete the sale in a series of transactions.
# [HIP-39] Community Multisig Refill (5)
The Hop Community Multisig has continued to distribute payments for the Hop DAO to delegates, multisig signers, bonders, and AMM reward contracts (liquidity incentives).
Per HIP-15, this distribution, as well as future distributions to refill the multisig will be refilled via on-chain governance vote every other month.
HIP-18 proposed refilling the HOP community multisig with approximately 4 months of supply. Part of that proposal was to bypass the forum RFC and go straight to snapshot for subsequent refills, assuming there is no material changes to the structure.
Here is the community multisig (<https://app.safe.global/balances?safe=eth:0x60224984338DeDe521C56DEE7a09e446A5a163f4>) . This should be refilled with HOP to provide 4 months runway under the same logic as HIP-18.
I’m voting for this experimental POL. I believe this will be a net positive for HOP through:
- diversifying the treasure
- benefiting from fees
- increasing liquidity for a more stable price discovery
# [HIP-40] Treasury Diversification and Protocol Owned Liquidity
**Goals and Motivation**
In the interest of bolstering the financial health and autonomy of the Hop Protocol, this proposal presents an initiative to further diversify the Hop DAO treasury holdings while establishing the beginnings of significant protocol-owned liquidity (POL). This move aims to mitigate the current skew between HOP’s circulating market cap and its fully diluted value, which stands as an impediment to stable price discovery and large-scale, value-aligned investment in HOP from non-private parties.
HOP’s circulating to fully diluted supply is far too skewed (4M circulating mkt cap, 40M fully diluted value FDV). This skew makes it difficult for proper price discovery to occur and even more difficult for anyone to make a large, opinionated allocation to HOP at a stable valuation in the open market. Moreover, as the HOP token is playing an increasingly growing role in the protocol, POL increases accessibility for the token while generating fees for the DAO. This proposal brings idle HOP into the market, makes it productive, increases market liquidity, and retains DAO ownership.
Generally, the amounts are small and ensure a continued reserve of HOP in the treasury for future developmental use cases such as grants, incentives, and other value-creating opportunities.
**Proposal Details**
This proposal would seek to:
1. Allocate 1,500,000 HOP ($57,000 @ $.036) and 57,000 USDC from the treasury for distribution to Mainnet, Optimism, and Arbitrum. **The total value is ~$114,000 ($57,000 + $57,000).**
2. Sell 57,000 USDC for ETH
3. Bridge HOP and ETH to each chain in the predetermined proportions (see calculations further down in proposal):
* **Mainnet:** 50%
* **Optimism:** 30%
* **Arbitrum:** 20%
1. Deposit HOP/ETH liquidity into DEXes
* **Mainnet:** Uniswap v3 0.3% tier full range
* **Optimism:** Velodrome v2
* **Arbitrum:** Camelot v2 (potentially v3?)
1. Lastly, deposit veNFT into compounding Relay strategy created for us by Velodrome (including this in this proposal, because it’s DEX related and fairly low stakes)
Each chain/dex’s proportion of the 1,500,000 HOP is decided as a blended percentage of each DEX’s HOP liquidity & HOP 24 hr volume, and each chain’s percentage of Hop protocol’s bridging volumes (from volume.hop.exchange). Current HOP/ETH liquidity across chains is ~$350,000, so this proposal would increase the outstanding liquidity by ~33%. You can see the breakdown of current liquidity, volume, and bridge volume here in order to calculate the blended percentages:
[link to sheet](https://docs.google.com/spreadsheets/d/1mVafAHRyysYUGdPDyzO8Y7OxDmYJ6yHiHhrPC-5rCNM/edit?usp=sharing)
These 3 chains are lower hanging fruit because we already have multisig capabilities and they’re the top 3 by liquidity and bridging profiles by quite a large margin. In the future we can and should look into Base, Polygon, Gnosis and other chains that Hop Protocol supports.
Notably, this proposal requires zero expenditures or ongoing incentives from the DAO. It simply pairs idle HOP in the treasury with a small amount of idle USDC (to sell for ETH).
Update since last Snapshot vote
\*The amount of HOP tokens has been increased from 1.1 million (in the Snapshot vote) to 1.5 million to balance the amount of stablecoins and HOP tokens 
# [HIP-39] Community Multisig Refill (4)
The Hop Community Multisig has continued to distribute payments for the Hop DAO to delegates, multisig signers, bonders, and AMM reward contracts (liquidity incentives).
Per HIP-15, this distribution, as well as future distributions to refill the multisig will be refilled via on-chain governance vote every other month.
HIP-18 proposed refilling the HOP community multisig with approximately 4 months of supply. Part of that proposal was to bypass the forum RFC and go straight to snapshot for subsequent refills, assuming there is no material changes to the structure.
Here is the community multisig (<https://app.safe.global/balances?safe=eth:0x60224984338DeDe521C56DEE7a09e446A5a163f4>) . This should be refilled with HOP to provide 4 months runway under the same logic as HIP-18.
A few years ago, my friend borrowed some xDai from me, so I lent it to them onchain. After that, you included me in the Sybil list. You can examine my multi-chain interactions to determine whether I am an annoying Sybil. Your misjudgment has cost me a lot of profits!
# [HIP-39] Community Multisig Refill (3)
The Hop Community Multisig has continued to distribute payments for the Hop DAO to delegates, multisig signers, bonders, and AMM reward contracts (liquidity incentives).
Per HIP-15, this distribution, as well as future distributions to refill the multisig will be refilled via on-chain governance vote every other month.
HIP-18 proposed refilling the HOP community multisig with approximately 4 months of supply. Part of that proposal was to bypass the forum RFC and go straight to snapshot for subsequent refills, assuming there is no material changes to the structure.
Here is the community multisig (https://app.safe.global/balances?safe=eth:0x60224984338DeDe521C56DEE7a09e446A5a163f4) . This should be refilled with HOP to provide 4 months runway under the same logic as HIP-18.
# [HIP-38] Treasury Diversification
### Summary
Sell 50% of Hop DAO’s ARB holdings (837,007 ARB) for USDC. This should raise approximately $686k for Hop DAO at current prices (~$0.82).
### Motivation
Hop DAO will need stablecoins to cover ongoing expenses. This sale would be an initial step toward the broader goal of treasury diversification.
### Execution
Before an onchain vote, a deployment of the Hop Community Multisig should be deployed on Arbitrum. The onchain execution of the proposal will send a message through the Arbitrum messenger to trigger a transfer of the ARB currently in the Hop Treasury alias 6 address to the Community Multisig. The Community Multisig can then complete the sale in a series of transactions.
### Voting Options
Sell 50% of Hop DAO’s ARB holdings for USDC
No action
Abstain
# HIP Refill Multisig (2)
*The Hop Community Multisig has continued to distribute payments for the Hop DAO to delegates, multisig signers, bonders, and AMM reward contracts (liquidity incentives).
Per HIP-15, this distribution, as well as future distributions to refill the multisig, will be refilled via on-chain governance vote every other month
HIP-18 proposed refilling the HOP community multisig with approximately 4 months of supply. Part of that proposal was to bypass the forum RFC and go straight to snapshot for subsequent refills, assuming there is no material changes to the structure.
In this case, the community multisig (https://app.safe.global/balances?safe=eth:0x60224984338DeDe521C56DEE7a09e446A5a163f4) has 3,365,924 HOP, which is approximately 1.5 months worth. This should be refilled for another 4 months with 11,765,196.52 HOP under the same logic as HIP-18.*
**Snapshot on this proposal ended June 20, 2022. Quorum was reached, and the proposal passed with 99.19% of the vote.**
# [HIP-30] HOP Airdrop Sybil Hunter Distribution
`Authors: @shanefontaine`
# Overview
When the Hop DAO was launched, Sybil hunters submitted reports that ultimately removed Sybil attackers from the HOP airdrop, resulting in the DAO keeping almost 3.5 million tokens that would have otherwise been in the hands of Sybil attackers. Per the Hop DAO introduction post, this proposal seeks to reward these Sybil hunters with 25% of the saved tokens now, a year after the start of the DAO.
Beyond the direct benefits of token recovery, the Sybil hunters also contributed to promoting the DAO in indirect ways. Both the SAFE airdrop and the Arbitrum airdrop adopted elements of Hop’s airdrop design as a result of the hunters’ effort and innovation, thus validating and enhancing the DAO’s influence. Each of those teams specifically called out Hop as inspiration during their airdrop process.
# Specific Details
Total tokens to distribute: 869,566.51
Total recipients: 35
Distribution method: The DAO will send funds to an OpenZeppelin PaymentSplitter contract that allows the addresses to claim tokens sent to the contract. The address of the verified contract is 0xD62524e1Bd146AB1a8e3D03ea8646870E3684fEe . The contract claim start time will be Fri Jun 09 2023 10:48:36 GMT+0000, which is the same start time as all of the HOP vesting contracts created at the beginning of the DAO’s lifetime.
# Next Steps
Based on the process defined in HIP-13 , this RFC will move from the forum to a proposal on Snapshot and subsequently onto Tally, assuming consensus is reached at each stage.
# References
* [Hop DAO introduction post](https://hop.mirror.xyz/AI5fOUR0X_l0mktShDOx3mwr-hsB24gp8GvTWtS-MBc)
* [Sybil hunter submissions](https://github.com/hop-protocol/hop-airdrop)
* [Twitter overview thread](https://twitter.com/WhinfreyChris/status/1525178626563420160)
* Distribution (table below)
```
Recipient Address HOP Amount
0x945D28dF9779795BDab5BC6FDD9f36c0Ef1F7190 93,050.37
0xBCCD7DF161C0d155D3E56D8C57Cc31C185217546 29,441.94
0xb33e018fd80466E46Cb0d52F46eA98105E7B53ec 6,955.00
0x61C1511D2645C1Fd1C5e71f07586d35779D85D79 9,715.53
0x0c31Fb1f6035402d61c6B4b0a5c2B62309fF763d 14,740.59
0x87122A072DaCF42bcCA5F4583fF08dEd2fb89176 13,821.37
0xa52AaF7da0156d2D30a310aFe6f084a0DA9cEE54 6,724.63
0x400aBc3DAE98Ec5aEEF2681b40D4CEd0A5aff934 106,850.36
0x414DD753dEa0c34f83695Cea8FdD38d734E49b4E 17,335.98
0xFB7c1D49e006eaDdff2385c7eF8B0C5Cf49d038A 3,406.56
0x7d3f6048091aEdE6198736b8C6ac527c314e25ff 71,439.55
0x0A304d8B62488766b0B4004C6398F5f439c45afa 3,096.38
0x572Ae335AaC8F32DC1ac53B97Fe248C3c9B3aF77 4,397.15
0x0BE6FC06A0A605D006C6317E5b0383F6Fb1394F1 51,826.21
0x68C589fAb487f2F100d0380Fad9648263F2e7145 41,246.28
0x386f6B908640d9f394EF37bC1b8c3a4018fa3dB1 15,515.27
0x12FB89D601C674aeA4d91f92ABD30eB9bb57a95E 2,367.41
0x7D389CfcD35e2aE40599b2662040A32E1450E6D6 6,392.06
0x987ffC303bEa07c4aD724f2BA9800b1FDC6a7dB0 24,519.63
0x6147B20E2542137055C87E6d86C8af5bF8Fb515a 4,062.73
0xdaa2fAA20484ef193F4678a802cEa58750638B2A 39,163.63
0xF1e4FbbC580Fc71714EfA23F352E6A70eBe46D39 16,082.46
0x61bC799fD0EB6C791E1cF22E1e9908635444d5A6 48,662.07
0xab41733192b401c88f3c0e42cacab44365530fba 2,894.44
0xD47CB1835EB36e4A108C33E446449192426Fc160 136,043.68
0x7F5F2980A85B363BD9013593A3D8b4f7DB3781Fd 3,542.76
0x0fB267a11d0a4ee611a3A8Dc41147A5729276161 3,596.69
0x5c43B1eD97e52d009611D89b74fA829FE4ac56b1 13,983.16
0x93CbB09b82b429e0566D1ca3596515DDAeF1980A 8,816.78
0x516d03de90f3Df147861E8d8001c8EDc79d89Ce7 2,859.99
0x9bb82fbf10cF4959909BAB9bE07805bd1d28D04A 28,821.95
0x99EdCfb867E9772384f3b560fE360d1530d6740d 7,562.27
0x72153F1040BDfe6961bB73448f1AF265B2bFDf0b 7,157.50
0x5E14E0c2e39ae6d65e33D21edA41796f4db86d52 17,354.19
0x6a1AF72bBcfD0BA492E502F83334d3910Fa025dB 6,119.94
```
# [HIP-25] Lito Departure
https://snapshot.org/#/hop.eth/proposal/0x4d340caf3061d3bdb106ce3a184c7c9e54ba665c6dd719282d61cbecc179cb55
This proposal was put up on Snapshot for voting on April 10, 2023. Voting closed on April 15, 2023. Quroum was reached and the proposal passed with 9,000,000 votes for, 4,000 against, and 142 abstain.
The proposal calls for two actions to be carried out:
1. Return to the HOP DAO Lito's unvested HOP allocations that have been placed into a TokenLock contract (0x313143c4088A47c469D06Fe3fA5fd4196Be6a4d6) set to unlock on June 9, 2023.
2. Return to the HOP DAO all HOP allocated to Lito that was set to begin vesting in June 2024. This TokenLock contract (0x95C6d7128dD7Bee3a3ce74A6d16A4C90e178327e) would be revoked in its entirety.
# HIP 18: Refill The HOP Community Multisig with Funds from the HOP DAO
```
[HIP-18]: Refill The HOP Community Multisig with Funds from the HOP DAO
[Author]: Shane Fontaine
[Snapshot vote]: https://snapshot.org/#/hop.eth/proposal/0x3e81e9581f48b150787a5160c3dfc65d4947ff4206e6cdca053d16da0bc60a77
```
###
### Proposal
The [HOP Community Multisig](https://etherscan.io/address/0x60224984338dede521c56dee7a09e446a5a163f4) has efficiently distributed payments for the HOP DAO since its inception. These distributions have been made to [delegates](https://snapshot.org/#/hop.eth/proposal/bafkreic3hu4fhna7lfyecwvvasfqccygzhpkvw2zu4mihzglccwa5om6ii), [multisig signers](https://snapshot.org/#/hop.eth/proposal/0x15937d80591ed226743226721d236e8c9190461521c866f18a45cb9703773a22), [bonders](https://snapshot.org/#/hop.eth/proposal/bafkreicliwx2wt4rnjbappi4yyk4z2qrh224guatw7z3uo3wwh7ruekeee), and [AMM reward contracts](https://snapshot.org/#/hop.eth/proposal/bafkreicliwx2wt4rnjbappi4yyk4z2qrh224guatw7z3uo3wwh7ruekeee) (in the form of liquidity incentives).
The multisig initially received [20,000,000 HOP](https://etherscan.io/tx/0xa2bbae45a9a184e4555c72faa8ac2b75380511b32a2880945adb0c0362473f1b) during the creation of the tokens and many of these have been distributed into circulation. The complete breakdown of the distributions to date are below:
The HOP Community Multisig now has 6,157,401.72 HOP tokens available, or about 2 months of supply. At the current run rate, approximately 2,941,299.13 HOP is distributed each month, which equates to approximately 3.53% of the total HOP supply each year.
This RFC hopes to achieve consensus that the HOP Community Multisig should be refilled at this time in order to continue efficient distributions from the HOP DAO into the hands of HOP stakeholders.
### Actions
If consensus is achieved, this proposal will send 11,765,196.52 HOP from the HOP DAO to the HOP Community Multisig. This number represents roughly 4 months of distribution and approximately 1.16% of the total HOP supply, capping the liabilities of the HOP Community Multisig.
Per [HIP-15](https://snapshot.org/#/hop.eth/proposal/0x6b5136469fd7b1478c0e10b95e30e8645a1cea8bb49cabeed59a312264b518f0), this distribution, as well as future distributions to refill the multisig, will target approximately 4 months worth of DAO expenses, refilled via on-chain governance vote every other month.
The calculation of 11,765,196.52 HOP was achieved by looking at the cumulative distribution of the prior two months and using that to approximate the next 4 months’ expenses. Any major, forward-looking changes, such as newly accepted & forthcoming distributions or the ending of incentive programs, should be taken into consideration when calculating this number for future refills.
Should the RFC be widely accepted, a delegate will conduct a temperature check on Snapshot and a subsequent on-chain proposal. If there are no material changes to the structure, future refills of this nature will bypass an RFC and proceed directly to a Snapshot vote.
The [Snapshot vote](https://snapshot.org/#/hop.eth/proposal/0x3e81e9581f48b150787a5160c3dfc65d4947ff4206e6cdca053d16da0bc60a77) has passed, and now the proposal moves to a Tally vote to be executed on-chain.
```
Voting Options:
* Yes
* No
* Abstain
```
I'm excited to get more involved with Hop governance, and I feel like people doing the work - even if it's just holding a multisig, deserve fair remuneration.
While I think the policies listed in the brief seem to be agreeable each on an individual level, the fast track portion for SNX feels like something that should be isolated for further analysis prior to implementation.
I cannot support the bundling of proposals in a single vote, because such a mechanic is antithetical to democratic governance. Though their was a "deemed low risk" and "high consensus", the fact is that these proposals did not attract unanimous consent, and their true support should be reflected on-chain rather than washed away for the sake of convenience. For clarity, I voted for 7 of these proposals, and yet I am still voting against this bundling.