Introduction

HOP is a new protocol for sending fast and reliable tokens between roll-ups and their corresponding Layer 1 networks. Roll-ups are actually a solution to scalability of transactions in the ethereum network, but the transfer of assets between roll-ups and the Layer 1 network is slow and not cost-effective. Using the Hop Protocol, the user can transfer their assets in a cost-effective and fast way directly from one roll-up to another roll-up.The networks that the Hop protocol uses to increase scalability include;Optimism ,Polygon and Arbitrum

The purpose of this dashboard

In this dashboard, we want to compare the transfer of assets through the Hop protocol to Layer 2 in Polygon and Arbitrum and Optimism with the transfer through the native bridge of these networks. In other words, we want to see how much assets users transfer through the Hop protocol and How much assets do native bridges transfer?

Methodology

To show the transfer of assets through the Hop protocol to polygon and optimism and arbitrum networks, we used the 0x3666f603cc164936c1b87e207f36beba4ac5f18a address , which is labeled exchange in the ethereum database.And to show the transfer, we used the chain ids of the mentioned networks, and to show the native transfer of the networks, we used their bridge addresses.

bridged by hop protocol

The chart below shows the volume of asset transfers to these networks via the Hop Protocol Bridge

As we can see, a volume of about $ 270 million in assets has been transferred to Layer 2 of Polygon, Arbitrum and Optimism networks through the Hop Protocol Bridge.The largest transfer to the Arbitrum network was about $ 120 million of ERC 20 assets transferred to the second tier.

native bridged

We want to see the volume of assets transferred through the native bridge of the mentioned networks. The chart below shows this volume of transfer.

The method we calculated shows that polygon network users prefer to use more of the hop protocol to transfer their assets, and the transfer across the native bridge of arbitrum networks and optimism is greater than the hop protocol.

TVL

We want to calculate the TVL of Hop protocol. To do this, we calculated the amount of input and output of assets through Deposit and withraw events, and to calculate TVL, we subtracted the amount of output from the input value to TVL Hop protocol.

According to our calculations, the amount of TVL in the Hop protocol is about $ 380 million

conclusion

Hop is an exchange created to solve the problem of ethereum scalability. Although roll-ups were also a solution for scalability, they were relatively expensive and slow. Therefore, in the new hop protocol, a bridge is created between the roll-ups to send tokens between different networks.