[Temperature Check] - Revised HOP Liquidity Incentives

[HIP 11] Fast bridging support and co-incentives for sUSD and SNX

HOP-Optimism Ambassador Vote

# HIP 12: Multisig Signer Compensation
```
Title: HIP 12: Multisig Signer Compensation
Authors: @Kene_StableNode & @Bobbay 
Contributors: N/A
Status: RFC
Date Posted: 2022-11-22
```

## Abstract

Multi-Sig signers have solidified themselves as a vital part of the Hop Protocol’s operations, although Multi-Sig signers participate in varying degrees, this proposal is geared towards rewarding each multi-sig signer adequately at their various points of participation.

## Motivation

As a way to reward multi-sig signers while building a culture that incentivizes prompt participation from signers, this initiative will help ensure that the Hop multi-sig operators stay motivated to carry out their duties whenever called upon.

## Specification

**Initial Retroactive Payment**

There are currently five Multi-Sig Signers, I am proposing that the multi-sig signers are compensated retroactively, starting with a retroactive payment as a reward for work previously done.

There are currently two Hop Protocol multi-sigs, one for Ethereum [Mainnet](https://gnosis-safe.io/app/eth:0x60224984338DeDe521C56DEE7a09e446A5a163f4/home) and one for [Optimism ](https://gnosis-safe.io/app/oeth:0xC988107688b750dee6237B85A3ca49ba0a65DaB0/transactions/history), the Mainnet Multi-Sig was has been operating for five months starting from June, while the Optimism multi-sig has been operational for 4 months, starting from July.

For the initial retroactive payment, I propose a one-time payment of $2,000 to @dybsy who contributed the most during this retroactive period. @dybsy took on the day-to-day administration of the two multi-sigs which included doing the following:

* Learn how multi-sig technology works
* Figured out troubleshooting
* Worked on merkle tree verification
* Confirmation of multiple variables
* Worked daily to avoid the compromise of the multi-sig

For other multi-sig signers (four individuals specifically) I recommend a one-time payment of $1,000 per signer, the difference in payment for the lead multi-sig signer and other signers is justified by the day-to-day involvement of the lead multi-sig signer.

**Total Cost** = $2,000 + ($1,000 x 4) = $8,000

This initial retroactive payment will be paid out completely in HOP.

**Subsequent Retroactive Payments**

Subsequently, I propose that whoever takes on the day-to-day administration of the multi-sigs should be compensated $500 a month for efforts related to administering the multi-sig, while other multi-sig members should be compensated $250 monthly, these payments would be made twice a year at 6-month intervals, for example: If the first subsequent retroactive payment would be made in June 2023, while the second payment would be made in December 2023.

The most active Multi-Sig signer who administers the multi-sig day to day will be paid a $3,000 payment twice a year, which is an annual salary of $6,000.

On the other hand, each of the other multi-sig signers would be paid $1,500 twice a year, which is an annual salary of $3,000 per multi-sig signer.

**Annual Total Cost** = $6,000 + ($3,000 x 4) = $18,000

These subsequent retroactive payments will be paid out completely in HOP.

**General Total Cost** = (Inital Payment + Subsequent Payment)

$18,000 + $8,000 = $26,000

## Rationale

It is important for multi-sig signers to be adequately compensated based on the level of time commitment and effort they put in to ensure the day-to-day running of the HOP Protocol, this has been reflected in the distinction in payments for the lead multi-sig signer and other signers.

## Considerations

* Formalizing the multi-sig signer roles with term limits and opening up the multi-sig signer roles up to the entire community through a nomination process and an election.
* Possibly incorporating vesting schedules to further align compensated role holders contributing to the Hop Protocol.

HIP 12: Multisig Signer Compensation

# [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-38] Treasury Diversification

# Hop Proposal Bundle: HIPs 0-7, SNX/sUSD Bridging Support

This is the inaugural on-chain vote for Hop Protocol governance. It consists of a bundle of eight proposals that successfully passed a Snapshot temperature check, and initiated by six different authors. Several proposals (HIPs 3, 4, and 7) authorize the community multisig to disburse funds. There is currently ample funding in that address, and no new HOP is required from the protocol at this time.

Please refer to the linked Snapshot poll and forum discussion for the full language of each proposal rather than relying on the brief description here.

The full list of proposals bundled for this vote are:

HIP 0: Hop Mission Statement and Success Framework
HIP 1: Deploy a HOP Bridge
HIP 2: Explore Private Sale Legal Options
HIP 3: Governance Incentives
Fast bridging support for SNX and sUSD
HIP 4: Delegate Incentivization Trial
HIP 6: Deploy a HOP bridge on Arbitrum Nova
HIP 7: AMM and Bonder Liquidity Incentives

These proposals were all bundled together because they 1) passed overwhelmingly in Snapshot polls, 2) have no immediate on-chain executable component that could present technical risk, 3) collectively created a large backlog of governance initiatives to bring to a final vote.

Snapshot is a great tool to quickly and affordably (freely) poll token holders. However, it is not meant to set policy for the DAO. All governance must occur on-chain.

Generally, GFX Labs does not support the bundling of proposals. Experience suggests it leads to low engagement and haphazard due diligence by voters. In this case, however, the bundling was deemed appropriate due to the low risk and high consensus already mentioned. 

If this proposal fails, GFX Labs will separate out those components it feels are most important and least controversial, and prioritize those for narrower votes.

# HIP 0: Hop Mission Statement and Success Framework
## Background
Forum Discussion: https://forum.hop.exchange/t/discussion-hop-s-mission-and-primary-success-metric/234

Discord Discussion: https://discord.com/channels/789310208413270078/988600846877065316/988614962534572072

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/0x603f0f6e54c7be8d5db7e16ae7145e6df4b439b8aac49654cdfd6b0c03eb6492

## Proposal
This proposal adopts a mission statement and success framework for Hop Protocol




# HIP 1: Deploy a HOP bridge

## Background
Forum Discussion: https://forum.hop.exchange/t/temperature-check-hip-1-deploy-a-hop-bridge/315

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/0xd8dfe984a70f7999ee8ce31ab725fc450074b83e9c9cf515b29c2e4c783b7bfe

## Proposal
Deploy a HOP bridge to Arbitrum, Optimism, Polygon, and Gnosis Chain.


# HIP 2: Explore Private Sale Legal Options

## Background
Forum Discussion: https://forum.hop.exchange/t/temperature-check-hip-2-explore-private-sale-legal-options/316

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/0x5ed734668ad7eb7a6080f23d6cf119379ba6ca3bbbac7de0a80cc47b2b09aca5

## Proposal
Hop DAO authorizes the Hop Foundation to explore legal options and documentation so that should Hop DAO vote to conduct a private sale, the Hop Foundation is prepared from a legal perspective to execute it.


# HIP 3: Hop Governance Incentives

## Background
Forum Discussion: https://forum.hop.exchange/t/temperature-check-should-hop-governance-fund-bounties-on-successful-proposals/340

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/bafkreihvjb3ytkqrroouve3kwuho46ho2dz2an2oljokjwnx6lwmaekumi

## Proposal
Utilize a fixed monthly allocation of HOP to incentivize successful concrete, outcome-producing governance proposals.


# Fast bridging support for SNX and sUSD

## Background
Forum Discussion: https://forum.hop.exchange/t/request-for-comment-fast-bridging-support-for-snx-and-susd/380

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/bafkreihioi2uoubmzc4onqxbhvfuvvngsrbbox6yesbuyhfngc5a7gmuvu

## Proposal

This is a proposal for HOP protocol to offer fast bridging support for SNX and sUSD to/from Optimism and L1.


# HIP 4: Delegate Incentivization Trial

## Background
Forum Discussion: https://forum.hop.exchange/t/rfc-hop-delegate-incentivization-trial/376

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/bafkreic3hu4fhna7lfyecwvvasfqccygzhpkvw2zu4mihzglccwa5om6ii

## Proposal
This trial program aims to attract and retain both entities and individuals who will actively participate in governance on behalf of HOP token-holders.


# HIP 6: Deploy a HOP bridge on Arbitrum Nova

## Background
Forum Discussion: https://forum.hop.exchange/t/request-for-comment-deploy-a-hop-bridge-on-arbitrum-nova/344

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/0x3df21f676877e7c87311ef6cb6864abd865d2e58a2613d6f10dd291b4f5dbce6

## Proposal

Deploy a HOP bridge on Arbitrum Nova.


# HIP 7 - AMM and Bonder Liquidity Incentives

## Background
Forum Discussion: https://forum.hop.exchange/t/request-for-comment-amm-and-bonder-liquidity-incentives/352

Snapshot Temperature Check: https://snapshot.org/#/hop.eth/proposal/bafkreicliwx2wt4rnjbappi4yyk4z2qrh224guatw7z3uo3wwh7ruekeee


## Proposal

**LP Incentives**
2,000,000 HOP per month


**Bonder Incentives**
800,000 HOP per month

Hop Proposal Bundle: HIPs 0-7, SNX/sUSD Bridging Support

A protocol for sending tokens across rollups and their shared layer-1 network in a quick and trustless manner

Ethereum	$50.06m
Arbitrum	$3,833,475
Optimism	$3,284,171
Base	$2,839,092
Polygon	$1,538,535
Gnosis	$524,866
Arbitrum Nova	$25,900

Market Cap	$3,074,702
	$0.04084
	$40.84m
	$122,239
	$682,711
	$32.59

Hop Protocol (HOP)

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