What is Hooked Protocol (HOOK)?
Hooked Protocol (HOOK) is a decentralized Web3 education platform designed to provide Learn-to-Earn products and integrated infrastructure, making it easy for users and businesses to access and participate in the Web3 world. The project has attracted a lot of attention in the crypto community, especially after becoming the 29th project on Binance Launchpad.
1. How Hooked Protocol Works and Structure
1.1. Operational Model
Hooked Protocol builds a layer for converting fiat to crypto for Web3, aimed at widely promoting the adoption of Web3. The project offers gamified products and experiences, helping users learn and earn through activities on the platform.
1.2. Main Products
• Wild Cash: This is the first product of Hooked Protocol, a Quiz-to-Earn application that allows users to participate in answering questions for rewards. Wild Cash has achieved over 2 million monthly active users, especially popular in Indonesia and Brazil.
• Hooked Academy: A platform providing short videos and educational content about Web3, helping users learn through gamified experiences.
• Hooked Wallet: An integrated cryptocurrency wallet, allowing users to store assets and conduct transactions on the platform.
1.3. Operational Mechanism
• Quiz-to-Earn: Users participate in answering questions to earn rewards in tokens.
• Proof of Work and Time (PoWT) Mining Game: A mining game based on the PoWT mechanism, encouraging users to contribute effort and time to the platform.
• Social Referral: Users can earn rewards by referring friends and expanding their social network on Web3.
2. Key Features of the Project
• Rapid Growth: Wild Cash has achieved over 2 million monthly active users, demonstrating the strong appeal of the platform.
• Gamified Experience: Hooked Protocol applies an educational method through games, helping users learn about Web3 in an interesting and effective way.
• Diverse Ecosystem: The project provides a variety of products and services, from learning, cryptocurrency wallets to integration solutions for businesses, creating a comprehensive ecosystem.
• Business Support: Hooked Protocol provides seamless Web3 integration solutions for businesses, helping them easily transition and participate in the Web3 world.
3. Details About Funding Rounds
Hooked Protocol has completed two funding rounds, attracting the interest of many top investment funds in the cryptocurrency industry. The total capital raised is 6 million USD, demonstrating the potential and trust of investors in the project.
4. Tokenomics of Hooked Protocol (HOOK)
4.1. Basic Information
• Token Name: Hooked Protocol
• Symbol: HOOK
• Blockchain: BNB Chain (BEP-20)
• Total Supply: 500,000,000 HOOK
• Initial Circulating Supply: 50,000,000 HOOK (10% of total supply)
4.2. Token Distribution
• Private Sale: 20%
• Community Sale: 5%
• Community: 25%
• Ecosystem / Treasury: 30%
• Development Team: 20%
4.3. Token Unlocking Schedule
The token unlocking schedule is designed to ensure the sustainable development of the project, with specific unlocking phases for each allocation.
4.4. Applications of HOOK Token
• Governance: HOOK holders have the right to vote and decide on important issues in the Hooked ecosystem.
• Transaction Fees: HOOK is used as gas fees for transactions in applications on the Hooked ecosystem.
5. Development Team and Investment Funds
5.1. Development Team
Hooked Protocol is developed by a team rich in experience in technology, blockchain, and education. They include:
• CTO: Top technology engineers with a background in distributed systems development and blockchain applications.
• Product Manager: Experts in designing educational products and gamified user experiences.
• Marketing Lead: A marketing team experienced in community building, especially in emerging markets such as Southeast Asia and Latin America.
5.2. Investment Funds
Hooked Protocol has received backing from renowned investment funds in the blockchain and cryptocurrency industry, including:
• Binance Labs: The investment fund and incubator of Binance, has supported Hooked Protocol since its early days.
• Sequoia Capital: One of the largest venture capital funds in the world, known for investments in leading technology companies.
• Multicoin Capital: An investment fund specializing in blockchain and crypto, which has invested in projects such as Solana, The Graph.
These funds not only provide capital but also support strategies and connections, helping Hooked Protocol thrive in a fiercely competitive environment.
6. Important Events From Launch to 12/2024
• October 2022: Launched the Wild Cash application and quickly reached over 2 million monthly active users.
• November 2022: Selected as the 29th project on Binance Launchpad, successfully raising funds and attracting significant attention in the community.
• March 2023: Collaborated with Binance to integrate Hooked Wallet, expanding the ability to store and trade Web3 assets.
• July 2024: Launch of Hooked Academy features, providing learning content about Web3 through videos and games.
• November 2024: Announce plans to expand into new markets such as India and Africa.
7. Development Roadmap and Ecosystem 2024-2025
7.1. Development Roadmap
• 2024:
• Q1: Launch advanced learning features on Hooked Academy.
• Q2: Deploy DAO systems, allowing the community to participate in governance and make strategic decisions.
• Q3: Expand integration with other blockchain ecosystems beyond BNB Chain.
• Q4: Announce new strategic partnerships with global educational organizations.
• 2025:
• Q1: Launch products aimed at businesses, helping them easily apply Web3 in their business operations.
• Q2: Collaborate with major exchanges to improve liquidity and trading of the HOOK token.
• Q4: Reach 10 million monthly active users and become the leading Web3 education platform in the world.
7.2. Ecosystem
Hooked Protocol is building a comprehensive ecosystem that includes:
• Wild Cash: An educational and earning center for individual users.
• Hooked Wallet: An integrated cryptocurrency wallet for asset management.
• Hooked Academy: A gamified Web3 education platform.
• Hooked Business Suite: A toolkit to support businesses in applying Web3.
8. Investment Potential of Hooked Protocol
8.1. Reasons to Invest
• Potential Market: Web3 education is a new field with significant growth potential as more people become interested in blockchain and cryptocurrencies.
• Support from Binance: Backed and supported by Binance Labs, Hooked Protocol has a significant opportunity for development.
• Diverse Ecosystem: The combination of education, entertainment, and finance creates a comprehensive and engaging platform.
8.2. Investment Risks
• High Competition: The Web3 education market is becoming increasingly competitive with many strong competitors.
• Price Volatility: The HOOK token is highly volatile, caution is advised before investing.
8.3. Where Can HOOK Tokens Be Purchased?
$HOOK is currently listed on Binance exchange and many other reputable exchanges. Investors can buy HOOK by:
1. Create a Binance Account: Register and verify your account.
2. Deposit: Deposit USDT or other cryptocurrencies into the account.
3. Buy HOOK: Find the HOOK/USDT trading pair and execute the trade.
9. Conclusion
Hooked Protocol (HOOK) is a groundbreaking project in the Web3 education sector, combining learning and earning to attract users into the blockchain world. With support from major investment funds and a clear development plan, Hooked Protocol has the potential to become a leading platform in this field. However, before investing, you should carefully consider and research the project in detail.
Source: BLOGTIENAO - @Blog Tiền Ảo