Beefy - Hop USDC

Description

Hop Exchange is a cross-chain bridge for stablecoins and ETH, as well as some altcoins. The protocol connects Ethereum mainnet with Layer 2 networks, namely Arbitrum One & Arbitrum Nova, Optimism, Base, Polygon and Gnosis.

Risk Level — 'A'

Narrative

Hop is a bridging solution meant to increase interoperability between Ethereum mainnet and rollups. Users providing liquidity on Hop help facilitate cross-chain swaps on a select network.

Why Invest?

The strategy offers competitive stablecoin yields with a very low degree of complexity. On top of that, the gas costs associated with entry and exit are extremely cheap, due to the strategy being deployed on the Optimism network.

What’s Inside?

• User funds are deposited into the Hop USDC pool on Optimism chain;

• Accrued rewards in the form of fees and $HOP incentives are automatically compounded by Beefy Finance;

• Gas costs associated with compounding are socialized among vault depositors.

Why Does It Stand Out?

Hop is an audited bridging protocol with a track record of two years in operation without any exploits. The protocol offers competitive stablecoin and ETH yields with no downside risk.

Beefy Finance is a yield optimizer aggregating and optimizing the most lucrative strategies across 17 networks. The protocol manages $200M in assets, such as BTC, ETH, USDT and others and has 500+ vaults in operation.

Safety Scoring

Simplicity - 5/5	Longevity - 3/5	Protocol safety - 5/5	Overall score - 4/5
Strategy is easy to understand and execute. No leverage is involved. Losses are highly unlikely.	The strategy has been running for 1-4 months.	Utilized protocol has been audited by multiple firms, have an active bug bounty and had no exploits or hacks in the past.	Low risk