Hooked Protocol: Everything You Need to Know

2022/11/30By: L, Laura

Hooked Protocol is designed to create the on-ramp layer for large-scale Web3 adoption by providing users and businesses with customised Learn & Earn solutions and onboarding infrastructures 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.

 

Hooked Protocols Goal

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.

 

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Main Functions of Hooked Protocol

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.

 

2.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.

 

4.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 also offers customers a full range of Web3 onboarding options to aid in their Web3 transformation.

 

The Token Structure of Hooked Protocol

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.

 

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What Is $HOOK Token Used for?

$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.

 

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.

 

Hook Tokenomics

  • Token TypeBEP-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

 

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Conclusion

  • 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 Binanceand Sequoia
  • With over250,000 KOC nodes as of November 2022, Hooked’s membership growth rate is more than 1 new member for every 2 existing members.

 


 

Read More:

Wild Cash: A Quiz to Earn App by Hooked Protocol

Hooked Protocol (HOOK) Was Launched on Binance Launchpad

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