Hooked Protocol

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Hooked Protocol?

Hooked Protocol (HOOK) is a gamified social learning platform that aims to accelerate the adoption of Web3.0 by providing tailored learning resources and comprehensive onboarding support to businesses. It uses a combination of educational products, social referrals, and incentivization models to encourage user engagement and learning, ultimately creating a community-owned ecosystem for decentralized finance (DeFi).

How is Hooked Protocol used?

Hooked Protocol (HOOK) is a Web3 gamified social learning platform designed to facilitate the adoption of Web3 technology by providing tailored Learn & Earn products. It addresses three significant challenges to Web3 adoption: lack of user motivation, high barriers to entry, and inadequate Web3 education. The protocol uses an educational approach with gamified learning experiences and incentivization models to encourage users to start their Web3 journey.

Key Features and Uses
  1. Gamified Learning:

    • Quiz to Earn: Users can engage in quizzes and earn tokens.
    • Proof of Work and Time (PoWT) Mining Game: Users invest time and effort to earn rewards.
    • Staking and Swapping: Users can store, stake, and swap crypto assets using the Hooked Wallet.
  2. Social Referrals:

    • Social Graph Expansion: Users can establish and monetize a new Web3 social graph by sharing invites.
  3. Onboarding Solutions for Businesses:

  • Integrated Infrastructures: Hooked provides seamless Web3 onboarding solutions for businesses, including one-login with Hooked DID infrastructure, built-in wallet solutions, social graphs, and a user growth engine.
Token Uses

Hooked Protocol uses two tokens: Hooked Gold Token (HGT) and HOOK.

  • HOOK Token:
    • Governance: Used for voting decisions in the Hooked ecosystem.
    • Community Event Privileges: Grants access to exclusive events.
    • Exclusive NFT Mints: Used for accessing unique NFTs.
    • Staking Rewards: Rewards users for staking.
    • In-App Purchases: Used as currency for certain in-app purchases.
    • Gas Token: Will be used as a gas token for all economic activities within the Hooked Application Rollup Infrastructure.
Achievements and Future Plans
  • Wild Cash: Hooked Protocol's first DApp, Wild Cash, has over three million monthly active users and serves as a gateway to Web3 resources in emerging markets.
  • Future Plans: The protocol aims to expand its market, community, and ecosystem through content and platform enrichment, socialFi innovation, and bilateral economic partnerships to create a self-sustaining flywheel-based ecosystem.

How do I store Hooked Protocol?

To store Hooked Protocol (HOOK) tokens safely, it is recommended to use "Cold Wallets," which are offline wallets. There are two types of cold wallets:

  1. Paper Wallet: This is a simple, offline wallet where you generate public and private keys using a program and print them on paper. The keys are in the form of QR codes that you can scan for future transactions.

  2. Hardware Cold Wallet: This is a physical device where you can store your cryptocurrency. Your crypto addresses and keys are kept in a USB drive device, and only the person with the USB drive can access the assets. Hardware cold wallets are preferred by most users, especially for storing large numbers of coins or tokens.

How to buy Hooked Protocol?

To buy Hooked Protocol (HOOK) tokens, follow these steps:

  1. Choose a Centralized Exchange (CEX):

    • Select a reliable and trustworthy crypto exchange that supports Hooked Protocol (HOOK) purchases, such as Binance or KuCoin.
  2. Create an Account:

    • Enter the required information and set a secure password. Enable 2-factor authentication (2FA) for added security.
  3. Verify Your Identity:

  • Complete Know-Your-Customer (KYC) verification, which may require providing personal information and identification documents.
  1. Add a Payment Method:

    • Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment methods.
  2. Buy Hooked Protocol (HOOK):

    • Navigate to the exchange's "Buy Crypto" section and select Hooked Protocol (HOOK) and your preferred fiat currency (e.g., USD).
    • You can buy HOOK directly with fiat currency if supported or first purchase a popular cryptocurrency like USDT and then exchange it for HOOK.
  3. Store Your HOOK:

  • You can store your HOOK tokens in the exchange's wallet or transfer them to a personal crypto wallet for added security.

Remember to carefully consider the fees and risks associated with buying and holding cryptocurrencies.

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History of Hooked Protocol

Hooked Protocol, a crypto project focused on building an on-ramp layer for new users to enter the Web3 world through education, was launched on December 1, 2022, with its governance token, HOOK, following a bullish trajectory right from its release. The project was founded by Jason Y, who has over a decade of experience in consumer internet and growth projects, and is supported by a team including Jess L as CMO and Mikey as CTO. Hooked Protocol aims to drive wider crypto adoption by providing a simplified and gamified learning experience, using its on-ramp layer network to achieve widespread adoption of the web3 movement through GameFi learn and earn products.

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How Hooked Protocol works

Hooked Protocol (HOOK) is a Web3 gamified social learning platform designed to onboard new users into the web3 movement through a streamlined and gamified process. The protocol aims to form an economic ecosystem wholly owned by the community, focusing on user empowerment and inclusivity within the decentralized finance (DeFi) space.

Gamified Learning

Hooked Protocol uses an immersive and inquisitive Web3 education methodology. Key features include:

  • Hooked Academy: Provides 30-second meme videos to help users learn Web3 fundamentals in an engaging manner.
  • Virtual Tutors: Integrated with ChatGPT, these virtual tutors interact like humans, making the learning process structured and engaging.
Incentives

To accelerate adoption, Hooked Protocol offers various incentives:

  • Quiz-to-Earn: Participants take quizzes to learn about Web3 fundamentals and earn tokens.
  • Proof-of-Work-and-Time (PoWT) Mining Game: Users mine to earn using the PoWT mechanism, a consensus method that brings in a variable block time scalable with mining power.
  • Social Referral: Users get compensated for recommending their Web3 social network to others.
  • Stake and Swap: Users can hone their skills in Web3 concepts, such as staking, trading, and transferring crypto tokens.
Infrastructure for Businesses

Hooked Protocol provides integrated infrastructure to support businesses transitioning to Web3. This includes:

  • Application Middleware Solution: A suite for applications to solve any issues, including one-login with Hooked DID infrastructure, built-in wallet solutions, social graphs, and a user growth engine.
  • Hooked Wallet: Allows users to store their crypto assets, stake, and make swaps.
Tokens

Hooked Protocol uses a dual-token model:

  • HOOK: The governance token, used for voting decisions, accessing community event privileges, accessing exclusive NFTs, and as currency for certain in-app purchases. It will also be used as a gas token for various economic activities within the Hooked Application Rollup Infrastructure.
  • Hooked Gold Token (HGT): The utility token, used only within the Hooked Protocol environment, providing ongoing incentives to contribute. It has an infinite supply, but the protocol has mechanisms to control liquidity and reduce the risk of speculative attacks.
Growth Strategy

Hooked Protocol plans to expand its market, community, and ecosystem through content and platform enrichment, socialFi innovation, and bilateral economic partnerships. This includes enhancing its SocialFi model to help users better utilize their social connections and contribute to ecosystem growth.

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Hooked Protocol's strengths

Hooked Protocol (HOOK) has several strengths that contribute to its innovative approach to gamified social learning and Web3 adoption:

  1. Dual-Token Structure: The protocol operates with two tokens, HOOK and HGT, which enhance liquidity, utility, and long-term sustainability within the ecosystem.

  2. Gamification and Incentives: Hooked Protocol uses various game forms, such as quizzes and mining games, to incentivize users to learn about Web3 and earn digital assets. This approach helps bridge the gap between technological innovations and their practical implementation.

  3. Community Engagement: The platform fosters a community-owned economic ecosystem, where users can participate in decision-making through governance and voting mechanisms. This encourages active engagement and a sense of ownership among users.

  1. Scalability and Interoperability: Hooked Protocol aims to create a scalable infrastructure for decentralized applications, ensuring seamless integration with other DeFi platforms and facilitating widespread adoption of Web3 technologies.

  2. User-Centric Design: The platform prioritizes a user-friendly experience, making it accessible to both experienced and novice users. This simplifies the onboarding process and encourages users to engage with the platform.

  3. Innovative Yield Farming: Hooked Protocol introduces a unique yield farming mechanism that boosts rewards for liquidity providers and incentivizes long-term participation, fostering a sustainable ecosystem.

  1. Security and Transparency: The protocol is built on a robust blockchain infrastructure, ensuring a secure and transparent environment for users.

These strengths collectively position Hooked Protocol as a transformative force in the DeFi space, focusing on user empowerment, inclusivity, and seamless scalability.

Hooked Protocol's risks

Hooked Protocol (HOOK) is considered a relatively low-risk investment, according to InvestorsObserver analysis. The proprietary scoring system evaluates the token's risk by analyzing the amount of money required to move the price over the past 24 hours, as well as recent changes in volume and market cap. This assessment indicates that HOOK is less susceptible to manipulation by limited trading, making it a lower-risk option for investors primarily concerned with risk assessment.

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Did Hooked Protocol raise funds?

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Hooked Protocol’s team

The team behind Hooked Protocol (HOOK) includes:

  • Jason Y: Founder, with over a decade of experience in consumer internet and growth projects, including Meta and Uber.
  • Jess L: Chief Marketing Officer (CMO), a former Silicon Valley tech leader with experience in marketing, strategy, and business development.
  • Mike Y: Chief Technology Officer (CTO), with engineering skills in consumer development and financial services.
  • Mikey: CTO, with expertise in consumer development and financial services.
  • Pseudonymous Development Team: The majority of the development team remains anonymous, including some C-level executives.

These team members have diverse backgrounds and expertise, which they leverage to drive the adoption of Web3.0 through Hooked Protocol's innovative gamified social learning platform.

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