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What you should know about Hooked protocol

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Hooked is a protocol that is creating the on-ramp layer for large Web3 adoption by offering customised Learn & Earn solutions and onboarding infrastructures for users and businesses to enter the new web3 world.

The protocol believes that a significant web3 revolution can be accomplished through gamified learning experiences and by returning economic value to users.

Objectives of Hooked Protocol

Hooked aims to provide its users with economic value, thereby gamifying the learning process such that; anyone—regardless of prior cryptocurrency experience — can access, earn, and own a share of cryptocurrency.

It also aims to enable and hasten the Web3 transformation of developers and applications, create a thriving community with scalability and engagements and capitalize on viral growth and decentralized social networks.

Features

  1. With its integrated social referral mechanisms, the hook application, which has gamified learning aspects, has experienced exponential growth.
  2. Web3 community gateway: designed with several intriguing incentives, a wallet that is simple to use, and a decentralized user identity.
  3. A simplified educational system mixed with immersive (experience-based) learning and inquisitive (curiosity-based) learning.

 

Mechanics to educate users

  1. PoWT (Proof of Work and Time) Mining Game: Using the traditional Proof-of-Work mechanism, this game encourages players to invest their time and effort within the platform.

  1. Quiz to Earn: Users may begin an engaging web3 learning experience and win their very first token reward.

 

3. Stake and Swap: Using Hooked Wallet, users can store their crypto assets in their first crypto wallets, perform staking and swap operations, and transfer crypto assets.

 

  1. Social Referral: By sharing and creating their Web3 social graph, users can earn substantial financial rewards.

 

In addition to providing a variety of exciting incentives, Hooked offers customers a full range of Web3 onboarding options to aid in their Web3 transformation, which includes:

  • Hooked Soulbound Token (Hooked SBT): Acting as the sole digital identity, Hooked gives its community members access to the Web3 space using Hooked SBT. This special token helps build community trust and integrity.
  • Hooked Wallet: The majority of the Hooked community’s first-ever cryptocurrency wallet features an intuitive user interface, infrastructure, and storage for Web3 assets and future transactions.
  • On-chain protocol interactions: Hooked gathers enormous on-chain behaviour data by engaging all protocol interactions on the BNB Chain, allowing for broad behavioural analysis and insights and setting the groundwork for community and ecosystem building.

Infrastructure

To help developers and apps enter the Web3 space, Hooked is creating middlewares such as a one-login DID solution, integrated wallet infrastructure, and social network integrated interface.

Another crucial component of the fast and scalable blockchain infrastructure that Hooked will build is rollup applicability, which will serve as the foundation for consolidating all ecosystem assets and data. By moving computational logic and data onto application rollup, Hooked will eventually create its ecosystem.

Token Structure

Hooked Tokenomics uses a segregation technique that applies a single token ($HOOK) orientated structure augmented with an in-ecosystem-only utility token ($HGT – Hooked Gold Token), reflecting the real value and enabling common use case functionalities.

  •  $HOOK: A governance token that expresses the ecosystem’s worth in the Hooked protocol.
  • $HGT (Hooked Gold Token): The single utility token that exists within the ecosystem. It provides the community with ongoing incentives and motivations to make dynamic contributions.
  • $uHGT (unlocked Hooked Gold Token): A token created from the system for controlling $HGT’s liquidity to reduce the risk of speculative attacks in which a token’s price volatility could damage the network’s reputation and value.

$HOOK

$HOOK is the ecosystem’s only liquidity governance token, designed to reflect the value that flows across the Hooked platform through a limited supply and planned emission scheme.

The long-term value of $HOOK is linked to people’s belief in the project, but unlike $HGT, the supply of $HOOK is set and designed to be deflationary.

The functions of  $HOOK

  1.  Governance platform token for Hooked ecosystem.
  2.  $HOOK will be used by all DApps in the ecosystem established on the Hooked platform as the gas token for on-chain transactions.
  3. Community members will be encouraged to hold tokens to gain access to special events and grants for purchasing limited editions of platform NFTs that exhibit the social status of the community and network effects.
  4. To ensure significant liquidity and that token value will increase in direct proportion to the success of the entire community, $HOOK will be reinvested in innovation methods that ultimately benefit the ecosystem of both individual participants and enterprises.

Tokenomics

Token Type: BEP-20 on BNB Chain

Total Token Supply: 500,000,000 HOOK

Private Sale: 20% of the total token Supply

Community Sale: 5% of the total token Supply  

Community: 25% of the total token Supply

Ecosystem/Treasury: 30% of the total token Supply

Team and Advisor: 20% of the total token Supply

Team

  • Founder — Jason Y. has over ten years of experience in growth strategy and consumer internet; the author has established numerous products with more than one hundred million users.
  • CTO- Mike Y. has strong engineering skills in large-scale financial services and consumer product development.
  • CMO- Jess L. having worked in leading Silicon Valley tech organizations, Jess has extensive experience in marketing, strategy, and business development.

In Summary

  • Hooked Protocol is the on-ramp layer for Web3. 
  • It offers specialized Learn & Earn product experiences and onboarding infrastructures for consumers & enterprises to enter the Web3 world of fantasy.
  • With more than 2 million monthly active users, Hooked has introduced a trial Quiz-to-Earn product called Wild Cash in Indonesia and Brazil.
  • Hooked application has gamified learning features.
  • The protocol believes that a significant web3 revolution may be accomplished through gamified learning experiences and by returning economic value to users.
  • Hooked Protocol is developing onboarding infrastructures in conjunction with the rapidly expanding community, creating an ecosystem of community-owned economics.
  • Hooked  protocol is backed by Binance and Sequoia
  • With more than 250,000 KOC nodes as of November 2022, Hooked has a membership growth rate of more than 1 new member for every 2 existing members.

Read also;

What are Soulbound Tokens (SBT)?

Kucoin Crypto World Cup: how to participate & win

Binance Football Fever: how to participate & win

 

 

 

 

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  1. Pingback: What you should know about Hooked protocol by Racheal Oyedepo – CryptoTvplus Events: NFT, DeFi, Bitcoin, Ethereum, Altcoin Events

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