What Is Hooked Protocol (HOOK)?

The super launch of the HOOK crypto on Binance - The Cryptonomist

Hooked Protocol (HOOK) is a gamified social learning platform that aims to accelerate Web3.0 adoption by offering customized learn & learn resources, as well as onboarding support for businesses wanting to engage with Web3.0.

Three key issues are slowing Web3.0 adoption: a lack of user motivation, a complicated onboarding flow, and desktop only product availability. The Hooked team believe financially incentivising users and companies to get involved in Web3.0 will solve these issues and accelerate adoption, and that gamified learning is the best way to do this. Once users and companies start earning digital assets, Hooked posits, more users and businesses will engage with Web3.0.

Hooked Protocol’s token structure includes two tokens: HOOK, a deflationary token with a fixed supply of 500m, and HGT, an in-house only utility token. The HOOK token is used for voting and governance, paying the platform’s gas fees, and accessing exclusive content, like NFTs.

The main goal of developers is to establish an advanced ecosystem and an inclusive community with improved scalability for transporting users from Web2.0 to Web3.0. Hooked Protocol up-and-running products include: Proof of Work & Time (POWT) Mining Game, Quiz-to-Earn, Social Referral and Stake & Swap.

Who Are the Founders of Hooked Protocol?

The Hooked Protocol team consists of three key people: Jason Y. (Founder), Mike Y. (CTO) and Jess L. (CMO).

Jason Y has 10 years experience in growth strategy and consumer internet at Uber and Meta; Mike Y is an engineer with a background in large-scale financial services and consumer product development; Jess L. has experience in Silicon Valley’s leading technology organizations (including Uber and Google), and she specializes in marketing, strategy and business development.

What Makes Hooked Protocol (HOOK) Unique?

Hooked, launched through the Binance Launchpad and is backed by Binance and Sequoia.

Its pilot DApp, called Wild Cash, offers gamified learn-to-earn services. The DApp’s 3 million monthly users earn currency by completing quizzes, and can obtain soul-bound tokens linked to their IRL identity. The idea is to draw more people into Web3 through a gamified experience by having them watch videos, engage with an AI mentor companion, and play with a Web3 emulation experience, which lets them explore the NFT and GameFI sectors.

The Hooked Protocol app offers the following features: The Gateway for Web3.0 onboarding, which is built with incentives, a gaming experience, an easy-to-use wallet with a simple interface, and a decentralized user identity; Dapps: the platform offers DApps which incorporate GameFi learning and Quiz-to-Earn. The platform’s pilot DApp was Wild Cash, which already has 3m+ users who receive rewards in crypto for completing quizzes and other activities; PoWT: a Proof-of-Work & Time mining game. The game uses the platform’s Proof-of-Work mechanism to incentivise users to contribute their time and energy in exchange for rewards; Stake & Swap: users can use the platform’s native wallet to store, stake, swap, and transfer their digital assets; Social Referral: users can earn rewards by referring the platform to their own network.

How Many Hooked Protocol (HOOK) Coins Are There in Circulation?

$HOOK is Hooked’s native cryptocurrency; it’s used to govern the Hooked Protocol. The HOOK token is deployed on the BNB Chain and has a total supply of 500,000,000 coins, which are distributed as follows:

30% to Ecosystem / Treasury;

25% to the Community;

20% to the Team and Advisor.

20% to Private Sale;

5% to Community Sale (Binance Launchpad Sale);

The token sale started on November 24, 2022 and lasted until December 1, 2022 on the Binance Launchpad platform.

Hooked users can use $HOOK tokens to: Govern the platform via voting; Pay the network’s gas fees; Access exclusive events, perks and products, including NFTs; Buy in-game tools.

Additionally, users receive any staking rewards in HOOK tokens.

How Is the Hooked Protocol Network Secured?

HOOK is the native BEP-20 token of Hooked Protocol, meaning that it runs on and is secured by the BNB Chain.

Where Can You Buy Hooked Protocol (HOOK)?

At the time of writing, Hooked Protocol (HOOK) is listed on a number of crypto exchanges, including Binance, Gate.io, Bybit, Bitget, LBank, MEXC, BitMart, NovaDAX, Bitrue, Hotcoin Global, Mandala Exchange, CoinW, BingX and ZT.

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