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  • Hooked Protocol HOOK
  • ( -0.81 % )
  • Rank #453
  • Coins

₹51.034

₹51.034

  • Rank #453
  • Coins

Market Cap

₹7.6 B -3.3076%

Circulating Supply

170000000

Max Supply

500000000

Volume

₹471.85 M

All Time High :

₹335.57

All Time Low :

₹33.37

Price change in 24H :

₹-1.480682

24H High :

₹46.32

24H Low :

₹44.28

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Socials Links

Network information


   Hooked Protocol ( HOOK ) Price Live Chart


What is Hooked Protocol (HOOK)? 

Hooked Protocol (HOOK) is a gamified social learning platform designed to expedite the adoption of Web 3.0. By offering personalized learning resources and onboarding assistance for businesses interested in Web 3.0 engagement, Hooked Protocol aims to address key adoption obstacles. Drawing parallels to CoinMarketCap's Learn & Earn platform, Hooked Protocol connects crypto developers with an untapped market segment.

Three primary hurdles hinder Web 3.0 adoption: user motivation deficit, complex onboarding processes, and limited availability to desktop platforms. Hooked Protocol proposes that incentivizing users and companies financially will resolve these challenges and hasten adoption. They advocate that gamified learning serves as the optimal approach. The idea is that by rewarding users and businesses with digital assets, greater involvement in Web 3.0 will occur.

Hooked Protocol's token system involves two tokens: HOOK, a deflationary token with a fixed supply of 500 million, and HGT, an internal utility token. HOOK serves purposes such as voting, governance, covering gas fees, and accessing exclusive content, including NFTs.

Developers' primary objective is to create an advanced ecosystem and an inclusive community that enhances scalability for transitioning users from Web 2.0 to Web 3.0. The operational products under Hooked Protocol encompass Proof of Work and Time (POWT) Mining Game, Quiz-to-Earn, Social Referral, and Stake & Swap.

Who are the founders of Hooked Protocol?

The core team of Hooked Protocol comprises three essential individuals: Jason Y. (Founder), Mike Y. (CTO), and Jess L. (CMO).

With a decade-long track record, Jason Y. possesses expertise in growth strategy and consumer internet, garnered from his roles at prominent companies like Uber and Meta.

Mike Y., serving as the CTO, brings engineering proficiency to the team, backed by a background in large-scale financial services and consumer product development.

Jess L., the CMO, draws from her experience within leading technology entities in Silicon Valley, including Uber and Google. Her specialization encompasses marketing, strategy, and business development.

What makes Hooked Protocol unique?

Introduced through the Binance Launchpad and backed by Binance and Sequoia, Hooked Protocol has made its mark.

Its initial DApp, named Wild Cash, presents a gamified learning-to-earn concept. The DApp caters to approximately 3 million monthly users who accumulate currency by completing quizzes. Additionally, users can acquire soul-bound tokens tied to their real-world identities. The goal is to lure more individuals into the Web3 realm via an engaging gaming experience. This involves watching videos, interacting with an AI mentor companion, and engaging in a Web3 emulation that explores the NFT and GameFI sectors.

The Hooked Protocol app boasts a range of features:

1. Gateway for Web 3.0 Onboarding: This user-friendly gateway includes incentives, gamification elements, an intuitive wallet with a straightforward interface, and a decentralized user identity.

2. DApps: The platform introduces DApps that combine GameFi learning and Quiz-to-Earn features. The inaugural DApp, Wild Cash, boasts over 3 million users who receive crypto rewards for completing quizzes and other activities.

3. PoWT (Proof-of-Work & Time) Mining Game: This game leverages the platform's Proof-of-Work mechanism to incentivize users to contribute their time and effort in exchange for rewards.

4. Stake & Swap: Platform users can conveniently store, stake, swap, and transfer their digital assets through the native wallet.

5. Social Referral: Users have the opportunity to earn rewards by referring the platform to their network.

By combining gaming elements with educational aspects and cryptocurrency incentives, Hooked Protocol seeks to encourage wider adoption of Web 3.0 and offer users a comprehensive and engaging experience.

Explain the network security of Hooked Protocol.

HOOK is the designated native token of Hooked Protocol, employing the BEP-20 standard. This signifies that HOOK tokens operate on the Binance Smart Chain (BSC), which is a blockchain platform that operates parallel to the Binance Chain. BSC is designed to offer smart contract capabilities while maintaining compatibility with the Binance Chain.

As a BEP-20 token, HOOK inherits the characteristics and functionalities associated with the BEP-20 standard. This standard is the equivalent of the Ethereum ERC-20 standard on the Binance Smart Chain. It defines a set of rules and protocols that facilitate token creation and interaction, ensuring a consistent experience for developers and users within the Binance Smart Chain ecosystem.

Running on the Binance Smart Chain not only provides HOOK with the ability to engage in smart contract functionality but also benefits from the BSC's high-speed and low-cost transaction capabilities. Additionally, as part of the Binance ecosystem, HOOK tokens benefit from the robust security and infrastructure provided by Binance.

In essence, HOOK being a BEP-20 token on the Binance Smart Chain allows it to participate in the functionalities and opportunities available within the Binance ecosystem while enjoying the benefits of the BSC's blockchain technology, including faster transactions and lower fees.

What are the recent developments of the Hooked Protocol?

Hooked Protocol and Ookbee, a digital content platform in Southeast Asia, have formed a partnership to boost Web3 adoption. Hooked's robust onboarding infrastructure will be leveraged to encourage Web3 technology adoption and revolutionize digital content experiences. By collaborating, they aim to transform creator-consumer relationships through blockchain technology, facilitating a transition from Web2 to Web3. This strategic alliance addresses the shortage of quality Web3 content and introduces new users to the Web3 ecosystem. With Ookbee's considerable user base of over 10 million, the partnership is set to drive substantial Web3 adoption. This collaboration aligns with Hooked's goal of creating an inclusive ecosystem, bridging Web2 and Web3 projects, and empowering creators and users.

To read more on Hooked Protocol (HOOK), visit Suncrypto Price Explorer


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