[{"category":{"name":"Trending News","exported_url":"trending-news"},"id":"13ffe1e3-abeb-4ddd-afb4-5fb4607738b2","updated_at":"2023-03-16T02:09:49.05582+00:00","account":{"firstName":"Akash","lastName":"Kashyap"},"description":"Hooked Protocol is a project within the SocialFi (Social Finance) space on the BNB Chain, an area many people are paying attention to due to numerous prominent projects.","sapo":"Recently, Binance Launchpad announced that Hooked Protocol would be the next project to have its tokens available for sale.","title":"Hooked Protocol - Quick Overview of HOOK Protocol Cryptocurrency","content":"

Recently, Binance Launchpad announced that Hooked Protocol would be the next project to have its tokens available for sale. Let's learn more about this project in the following article.

What is Hooked Protocol?

Hooked Protocol is a project within the SocialFi (Social Finance) space on the BNB Chain, an area many people are paying attention to due to numerous prominent projects. With the appearance of Hooked Protocol on Binance Launchpad, SocialFi will likely become a new trend in the market.

The definition of Hooked Protocol

Figure 01. What is Hooked Protocol?

Hooked Protocol builds a layer to connect users with the web3 world, providing products that help users Learn & Earn and complete quests to earn money.

In addition to gamifying user experiences, the project builds a positively interactive community. It leverages the advantages of decentralized social networks, thereby creating an ecosystem with the community as the owner of the economy.

HOOK Token Complete Profile

Key Metrics HOOK

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

HOOK Token Allocation

Hook Token allocation ratio for 5 different sectors

Figure 02. HOOK Token allocation ratio.

HOOK Token is divided as follows:

Private Sale: 20%
Binance Launchpad Sale: 5%
Team: 20%
Ecosystem/Treasury: 30%
Community: 25%

What is the Mission of the Hooked Protocol?

"Hooked" proposes tasks to help users easily access WEB3 through a diverse and gamified product suite, thereby helping users receive more value (including economic value):

1. Wild Cash

This is the first and most notable product currently. Wild Cash is a platform in Quiz to Earn, where users can participate and use features in the app (such as answering quizzes, playing mining games, etc.) to receive rewards in various tokens. In addition, the project is also integrated with On-Chain infrastructure.

2. Gamified Learning

Creative content, such as Hooked Academy's short videos, community-founded DAOs, or Web3 user-friendly areas/DApps such as NFTs, GameFi, and Quiz to Earn apps like Wild Cash, are gamified.

3. Web 3.0 Tools

Hooked Protocol has tools to help users easily use Web3.

Hooked Soulbound Token (Hooked SBT): Used as a Web3 "passport" as it can only be minted once and cannot be exchanged between accounts.
Hooked Wallet: A crypto wallet that helps users store assets and conduct transactions using Hooked Protocol's products.
On-chain data storage: Project information and data are stored on the 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 accomplishments after 3 months of launch:

Released on CH Play Indonesia and consistently trending in this market.
MAU (Monthly Active Users) reached 2.5 million, with about 50,000 new users per day. According to DappRadar, Hooked is also the highest SocialFi project in the number of users in the past 7 days (361,000 users).
90% of new users participate in quizzes.

In addition, Hooked Protocol is a project that uses a 2-token economy: HOOK (governance token) and HGT (utility token) - similar to Axie Infinity or Stepn, leading projects in previous trends.

Explore more crypto insights and trending news with our Blogchain.

Meanwhile, play trading games and earn real tokens with CryptoSim - A virtual Trading Game.

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Hooked Protocol - Quick Overview of HOOK Protocol Cryptocurrency

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