What Is Hooked Protocol (HOOK)?

TL;DR

Hooked Protocol is a Web3 gamified social learning platform providing tailored Learn & Earn products. It was initially designed to form a fast-growing community and later evolved to build onboarding infrastructures and decentralized applications (DApps) to help more businesses enter Web3, ultimately forming an ecosystem of community-owned economics.

Introduction

Web3 is the next generation of Internet technology. While the term is relatively new, many projects in the blockchain space have been working towards Web3 because of its benefits, which include giving control back to users. However, there is a long road ahead to mass Web3 adoption. 

Hooked Protocol wants to address three significant challenges Web3 adoption faces: lack of user motivation, high barriers to entry, and inadequate Web3 education.

Hooked uses an educational approach to tackle these problems and encourage more users to start their Web3 journey. Through gamified learning experiences and incentivization models, the protocol hopes to help make Web3 mass adoption a reality.

At the same time, Hooked is building a set of user-facing products with token incentives for new user onboarding. 

How Does It Work?

There are three elements to Hooked Protocol’s educational approach: innovative education-oriented products, a social referral mechanism, and onboarding solutions for businesses.

Innovative education methodology

As a 30-second Meme Video Portal for Web3 Learning, Hooked Academy provides an intuitive scheme for Web3 user education. Hooked will continue to introduce more educational initiatives to push for mass user adoption.

Social referrals

Termed by Hooked Protocol as ‘social graph expansion’, the team uses social referrals to grow its community. Users can establish and monetize a new Web3 social graph by sharing an invite.

Onboarding solutions for businesses

With its integrated infrastructures, Hooked plans to provide seamless Web3 onboarding solutions for businesses. Functioning as a suite for applications to solve any issues, this integration includes one-login with Hooked DID infrastructure, built-in wallet solutions, social graphs, and a user growth engine.

What Has Hooked Protocol Achieved So Far?

Launched in late 2022, Hooked Protocol’s first DApp, Wild Cash, is the biggest one on the blockchain so far. With over three million monthly active users, the app is a gateway to Web3 resources in emerging markets. 

Wild Cash was designed to encourage user onboarding through gamified experiences, such as:

• Quiz to Earn

• Proof of Work and Time (PoWT) Mining Game

• Social referrals

• Staking and swapping via Hooked Wallet

By participating in these activities, users can engage in familiar Web3 mechanics and learn more while getting rewarded in crypto.

What Is the Hooked Token (HOOK)?

There are two tokens Hooked Protocol uses: Hooked Gold Token (HGT), its utility token, and HOOK, its governance token. HOOK is used for the following purposes:

• Voting decisions for the Hooked ecosystem

• Accessing community event privileges

• Accessing exclusive NFT mints

• Rewards for staking

• Currency for certain in-app purchases

In the future, HOOK will also be used as a gas token for all economic activities within the Hooked Application Rollup Infrastructure. Furthermore, all DApps in the ecosystem built on top of the Hooked platform will also use gas tokens for on-chain transactions.

How to Buy Hook on Binance

Hooked Protocol’s governance token, HOOK, is available for purchase and trade on Binance Launchpad. Register and get your HOOK using this direct link.

What's Next for Hooked Protocol?

Hooked Protocol has plans to expand its market, community, and ecosystem. Through content and platform enrichment as well as socialFi innovation, the Hooked team hopes to diversify and enhance their gamified learning experience for global users. This includes Hooked’s SocialFi model, where community members can better utilize their social connections and contribute to ecosystem growth.

Hooked is also building a self-sustaining flywheel-based ecosystem through bilateral economic partnerships, where all apps offered by Hooked Protocol will generate more traffic and grow their community.

Closing Thoughts

The Learn to Earn model has been gaining popularity as a way to advance crypto literacy and adoption. While Hooked Protocol’s approach to Web3 adoption is not unique, it has the potential to go far, given the growing interest in the next generation of the Internet.