Hooked Protocol – Web3 Gamified Social Learning Platform

What is Hooked Protocol? Analysis of Hooked Protocol and HOOK token tokens

Users are increasingly accessing Web3 more widely, so the need for projects to help connect users with Web3 was born. Hook protocol is one of those protocols that solves that problem. In this article, we will learn about the Hook protocol and the HOOK token.

1. What is Hooked Protocol?

Hooked Protocol is a project in the SocialFi (Social Finance) segment on BNB Chain, which is also an area that is attracting a lot of attention with many outstanding projects. It is very likely that with the appearance of Hooked Protocol on Binance Launchpad, SocialFi will really become the new trend of the market.

The pilot product of the protocol is Wild Cash. A background on Quiz to Earn. Hooked is working towards forming an attractive ecosystem of community-owned economies by facilitating and optimizing the referral process for all Web3 Pathfinders.

2. Objectives of the protocol

The Hooked protocol aims to build a layer on top of a link for widespread Web3 adoption to shape the ecosystem of future community-owned economies. Here the platform will:

• empowering everyone with no prior crypto experience to access, earn and own a piece of cryptocurrency
• enable and accelerate the streamlined Web3 transition of developers and applications
• form a vibrant community with scalability and interactivity, leveraging a decentralized social network

3. Project highlights

• Fast growing community gateway for web3 onboarding: Hooked is building a set of user-facing products with intriguing incentives and gamified experience for new user onboarding. Currently the ecosystem has over 2 million monthly active users.
• First web3 app dominating Google Play ranks: Hooked first Dapp adopted innovative Quiz-to-Earn mechanics, achieving impressive user growth in Indonesia.
• Innovative education methodology: In-app gamified learning experience & Hooked Academy provides an intuitive scheme for web3 user education. Hooked will continue to bring up more educational initiatives to push for massive user adoption.
• Social graph expansion: Hooked community formation is highly leveraged with social referrals. Users get to establish and monetize a new web3 social graph by just sharing.
• Onboarding solutions for business: Hooked plans to provide seamless web3 onboarding solutions for businesses with its integrated infrastructures.

4. What does the Hooked Protocol ecosystem include?

Hooked Protocol launched the first pilot dApp, Wild Cash, aiming to be the web3 community gateway in emerging markets. Shortly after launch, Wild Cash became the first & only Web3 application ever dominating Google Play rank for 9 consecutive days in Indonesia, with over 2 million monthly active users.

Here is a list of product features currently available in the application:

Wild Cash:

This is the first and most notable product currently available. Wild Cash is a Quiz to Earn platform, users can participate and use the features in the app (answer quiz, mining game …) to receive rewards in tokens. In addition, the project is also integrated on-chain infrastructure.

Quiz to earn is a product of Hooked Protocol

Gamified Learning: 

Gamified creative content like Hooked Academy short videos, community-founded DAOs, or easy-to-use web3 arrays/dapps like NFT, GameFi, and Quiz to Earn apps like Wild Cash.

Web3 tools:

Hooked Protocol has tools that make it convenient for users to use web3.

• Hooked Soulbound Token (Hooked SBT): Used as a web3 “passport”. It can only be minted once and cannot be transferred between accounts.
• Hooked Wallet: A crypto wallet that helps users use Hooked Protocol products to store assets, create transactions, and more.
• On-chain data storage: Information and data are stored by the project on BNB Chain and are transparent to all users and the community.

Currently, Wild Cash is the main product of Hooked Protocol. This product has achieved certain achievements after 3 months of launch:

• Released on CH Play Indonesia and continuously reached the top trending in this market.
• MAU (monthly active players) reached 2.5 million, about 50,000 new users every day. According to DappRadar, Hooked is also the SocialFi project with the highest number of users in 7 days (361,000 people).
• The rate of new users joining the Quiz is 90%.

In addition, Hooked Protocol is also a project using a 2-token economy: HOOK (administrative token) and HGT (utility token). Similar to Axie Infinity or Stepn, the projects that led the previous trends.

5. Token Overview & Use Cases?

HOOK is the main token of the project

• Participate in project management decisions.
• Use as gas fees for transactions at applications on Hooked’s product ecosystem in the future.
• Get access to limited edition NFTs from the platform and other perks in the community.

HGT is the project’s utility token

• HGT has no total supply limit, can be minted and used unlimitedly, depending on user needs.
  Use HGT to gain access to in-app events, items, and assets.
• HGT is used as a reward for users for completing tasks in the app such as Quiz-to-earn training camp, Quiz-to-earn competitions, referring new users, etc.
• Convert HGT to HOOK, details will be announced in the future.
• When the user receives HGT, this token will be unlocked gradually, the unlocking speed depends on the level of participation and contribution of the user (proof of engagement). At that time, HGT was converted to uHGT (unlocked Hooked Gold Token).

6. Detailed information about HOOK token

Key Metrics HOOK

• Token Name: Hooked Protocol
• Ticker: HOOK
• Token Standard: BEP-20
• Blockchain: BNB Chain
• Token type: Governance
• Total Supply: 500,000,000 HOOK
• Initial Cycle. Supply When Listed on Binance: 50,000,000 HOOK (10.00%)

HOOK Token Allocation

• Private Sale: 20%
• Community Sale: 5%
• Community: 25%
• Ecosystem / Treasury: 30%
• Team and Advisor: 20%

7. Project Team & Investors

Leading the project team are members with extensive experience in the field of product development.

Jason Y – Founder: have previously worked at large companies such as Uber, Google, Meta…

Mike Y – CTO:  Solid experience in large-scale consumer product and financial services development and

Jess L – CMO: Expert in Marketing, strategy and business development, has worked for technology companies in Silicon Valley, has worked at Uber and Google.

Investors
Hooked Protocol has completed 2 rounds of funding and received 6 million USD from investors with FDV (fully diluted valuation) determined in the range of 30 – 60 million USD. In which, Binance Labs and Sequoia Capital are two prominent investors.

Closing thoughts

Above is an overview of Hooked Protocol and related information about the project. With an impressive number of current users, Hooked Protocol and the products in the ecosystem are highly appreciated. Focusing on exploiting the Quiz-to-Earn trend to pioneer the field of Education, creative learning through game experiences, the project is expected to develop strongly in the near future.

Wild Cash is the first project of the Hooked ecosystem.  With the launch event on Binance Launchpad, let’s wait and see if Hooked Protocol will start a new market trend?

To read more good articles about other projects, people can read more at Crypto Chill news.

Hooked Protocol information channels:

Hooked Protocol Website: https://hooked.io

Wild Cash Website: https://wildcash.xyz

Twitter: https://twitter.com/hookedprotocol

Discord: https://discord.gg/2aWBxMKRFf