What is Hooked Protocol?

The blockchain industry is continuously making great strides in terms of massive cryptocurrency valuations, innovative technology, and practical products. The introduction of the web3 movement has further revolutionized products and projects in the crypto space, moving the blockchain to another technological era.

Still, there seems to exist a gap between real-world user adoption of web3 solutions and the development rate of the web3 ecosystem. As a result, the masses remain unaware of the technological solutions available within the web3 space.

Hooked Protocol is a crypto project looking to fill that gap by promoting user adoption of web3 solutions with learn-and-earn products and a community that unites web3 developers with an engaging audience. This article explores the creative approach Hooked is using to increase web3 adoption. It also explores its interesting features, history, and details on token and governance structure.

What is Hooked Protocol?

Launched in late 2022, Hooked is a crypto project using its on-ramp layer network to achieve widespread adoption of the web3 movement through GameFi learn and earn products. Hooked is applying learn-and-earn techniques to incentivize users to adopt web3 products and learn about concepts in the movement.

The Hooked Protocol provides users with an interactive and engaging gaming environment while simultaneously connecting web3 developers with the much-needed audience for their projects. Hooked believes that the gamified learning experience will not only inspire beginners to learn about crypto and empower them by providing access to own their cryptocurrencies but also create a community that fosters engagements by leveraging the social network, game Fi, and viral growth. In addition to its game-learning approach, Hooked provides web3 products that make the user onboarding process seamless.

History of Hooked Protocol

The Hooked Protocol was launched on December 1, 2022, with its governance token, HOOK, trailing a bullish trajectory right from its release. Hooked protocols roots, however, go further back to the Binance Launchpad, a platform that provides users with exclusive access to new market tokens from select projects while fostering awareness and adoption for those projects. During its seed investing stage, Hooked Protocol received a commitment from over 100k investors.

The idea behind the Hooked Protocol is owed to Jason Y, the founder of the Protocol with over a decade of experience in consumer internet and growth projects. His hands-on experience from products like Meta and Ex-Uber is supported by the engineering skills of Mikey, the CTO, in consumer development and financial services. Jess L, a former Silicon Valley tech leader with experience in marketing, strategy, and business development, also forms part of the solid team as CMO.

How does Hooked Protocol work?

In Hooked’s mission to maximize user adoption of web3 products, the platform adopts a series of approaches built into a defined structure. First, Hooked incentivizes users to participate in an educational system with gamified learning techniques. These techniques are available through the Hooked Academy, which acclimates users to popular web3 concepts like NFTs and GameFi through games and videos. Hooked Academy, the learning portal, is also structured like a decentralized social network to improve the user experience and reduce the learning curve.

Additionally, Hooked Protocol seeks to achieve its mission of maximizing crypto user adoption of web3 products with its pilot dApp, Wildcash. With over 2 million active users, Wildcash offers learn-to-earn experiences to its user base through features like Quiz-to-Earn, a game that incentivizes users to learn about web3 and the cryptocurrency industry, and POWT (Proof of Work and Time), a mining game that encourages users to learn the mechanics of blockchain mining, while also receiving rewards in the form of $HGT, the platform’s utility token.

Finally, Hooked Protocol offers web3 products to further soothe a new user’s transition to the web3 space. Upon joining the platform, a user is granted a distinct digital identity via the Hooked Soulbound Token and a decentralized wallet for hands-on experience navigating web3 crypto transactions.

Hooked Protocol Features

Hooked Protocol’s pilot decentralized application (dApp), Wildcash, launched as a Web3 community gateway, provides a gamified crypto learning experience and other built-in Web3 mechanics. The protocol incorporates several features that help achieve this goal, including Quiz-to-Earn, Social Referral, PoWT, Stake, and Swap.

Quiz-to-Earn

Quiz-to-Earn is a feature that allows users to earn rewards by participating in quizzes related to various web3 concepts. These quizzes are designed to be engaging and informative, and users can earn rewards for correctly answering questions. Quiz-to-Earn incentivizes users to increase their knowledge of web3 concepts, thereby making the adoption of web3 products seamless and engaging.

Social Referral

Social Referral is another feature that incentivizes users to invite new users to Hooked Protocol dApp. Users can earn rewards for referring new members to the community, and the more successful referrals they make, the more rewards they can earn.

Proof-of-Work Time (PoWT)

Proof-of-Work Time (PoWT) is a game within the WildCash app that uses the classic proof-of-work consensus algorithm to incentivize users to dedicate efforts and time to the platform.

Stake and Swap

Staking is an available feature that allows users to earn rewards by holding and staking Hooked Protocol’s native token, HOOK. Users can stake their tokens, swap, and make transferring transactions with the Hooked Wallet.

Hooked Protocol Token Structure

Hooked Protocol operates a dual token structure comprising a native token and a utility token. The token structure of the Protocol was designed to promote liquidity and increase utility to guarantee the prolonged sustainability of the Hooked ecosystem.

$HOOK

The first and primary token is $HOOK, the governance token of the Hooked protocol ecosystem. The deflationary token performs many functions within the network including; governance, staking rewards, gas fees, and currency for in-app purchases. In addition, the HOOK token will serve as an access token for exclusive events and community privileges like NFTs.

HOOK Tokenomics

HOOK, the native governance token of the Hooked Protocol, has a total supply of 500,000,000. The specifics of the distribution are as follows:

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

$HGT

The second token of the Hooked Protocol Ecosystem, $HGT (Hooked Golden Token), functions as the in-ecosystem utility token. With an infinite supply, HGT is issued to protocol users as they accomplish certain tasks. The token is incorporated into the protocol’s learn-and-earn technique to incentivize users in web3 adoption. HGT will also be used for in-app purchases and access to events, properties, and virtual assets.

News on HOOK

Since its release, Hooked has completed several milestones. First, reaching up to 50,000 users on the date of launch, surpassing 2 million monthly active users and being ranked as the biggest SocialFi application by Dappradar. In the future, Hooked is looking to expand its ecosystem, market, and community. The platform also aims to introduce scaling solutions to support its growing user base. The platform roadmap features more goals regarding partnerships, governance, and introducing product innovations to enhance and diversify the gasified learning experience.

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