Binance on 23rd of November, 2022 announced its 29th project on the Binance Launchpad – Hooked Protocol (HOOK). The launch will be followed up by listing of HOOK tokens on Binance. What is this new project and what’s in store for you? We have covered all this and a lot more in this article for you.
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What is Hooked Protocol?
Hoooked is an on-ramp layer protocol that is targeting the complete adoption of Web3 in order to create an advanced ecosystem. They have over 3 million active members in their community and are looking at creating an advanced experience for the users & businesses looking to harness Web3. It is putting great efforts into onboarding Web2 users to Web3 and creating an ecosystem that is not just vibrant but also cohesive.
What is the Mission of Hooked Protocol?
The Hooked protocol through its inventions and developments is aiming at revolutionizing the Web3 world and the growth tunnel. With its efforts, the Hooked Protocol is trying to even reach out to those with zero prior experience and help them in making the most of the crypto industry. It is also trying to transform the streamlined Web experience for both developers and users. They are working towards community building, an aspect that can not only improve scalability but also bring in more people who are unknown to this world of crypto.
What are some of the Project highlights?
Hooked Protocol promises to serve the user with a huge variety of benefits. Some of the highlights of the project are as follows
- Gateway for web3 onboarding: The Hooked Protocol is an extremely rapidly developing platform that is trying to onboard more and more people onto web 3. They are creating “user-facing products with intriguing incentives and gamified experience” in order to build and grow a strong community
- Innovative Dapp integrations: It has its first Dapp connected to Quiz-to-Earn mechanics
- Improved education techniques: They have resources like gamified learning experience & Hooked Academy to educate the masses about Web 3 and in the process urge more people to adopt it.
- Other existing products: Apart from the above mentioned features, Hooked Protocol has also released other products and services like POWT (Proof of Work & Time) Mining Game, Social Referral, Stake & Swap and Inquisitive Learning.
What is Wildcash.XYZ?
Wildcash is one of the products of Hooked protocol. It is all in one Learn to Earn dapp and is having more than 3 Million active users. You can play Quiz to earn where you need to answer the questions correctly to earn tokens. On Wildcash, you can also mine to earn.
Explore Wildcash today and earn tokens for free: CLICK HERE. You may get HOOK tokens playing WILDCASH. Who knows?
Who is the team behind Hooked Protocol?
Jason Y., the founder of Hooked Protocol brings with him over 10 years of developed expertise in “consumer internet & growth strategy”. Mike Y. serves as the project chief technology officer (CTO) and is experienced in large-scale financial services engineering. The chief marketing officer (CMO), Jess L. also adds a lot of credibility to the project through his experience in firms like Uber and Google.
Who are the backers of Hooked Protocol?
Hooked Protocol has got two solid backers – Sequoia Capital and Binance.
Tokenomics of the HOOK Token
HOOK is the native governance token of the Hooked Protocol. The Total Token Supply is 500,000,000 HOOK. 20% of the total token is allocated to Private Sale and another 20% to Team. Ecosystem/ Treasury receive 30% while the Community get 25%. The remaining 5.00% of the total token supply is allocated to the Binance Launchpad Sale.
- This HOOK Token can be used in the following ways:
- To make the most of the Hooked Ecosystem
- For exclusive NFTs and community privileges
- In-app purchases
- Reward associated with staking
The other tokens available are $HGT (Hooked Gold Token) and $uHGT (unlocked Hooked Gold Token)
You can read more on the Hooked Whitepaper here: Introduction to Hooked Protocol – GitBook
What are the Details of the Token Sale on Binance Launchpad?
According to the article published by the official Binance website, these are the exact details
- Token Name: Hooked Protocol (HOOK)
- Launchpad Hard Cap: 2,500,000 USD
- Hard Cap Per User: 15,000 USD (150,000 HOOK)
- Total Token Supply: 500,000,000 HOOK
- Total Tokens Allocated to Binance Launchpad: 25,000,000 HOOK (5% of Total Token Supply)
- Public Sale Token Price: 1 HOOK = 0.1 USD (price in BNB will be determined prior to subscription)
- Token Sale Format: Subscription
- Supported Sessions: BNB only
The subscription timeline will take place over seven days and in four major phases, namely:
- Preparation Period 2022-11-24 00:00 (UTC) to 2022-12-01 00:00 (UTC)
- Subscription Period 2022-12-01 06:00 (UTC) to 2022-12-01 09:00 (UTC)
- Calculation Period 2022-12-01 09:00 (UTC) to 2022-12-01 10:00 (UTC
- Final Token Distribution 2022-12-01 10:00 (UTC)
Should You Participate in the HOOK token sale on Binance launchpad?
The project Hooked Protocol is backed by two solid Venture capitalists – Sequoia and Binance. And since it is launching directly on Binance, I think it is definitely a good investment to make. You should consider participating in the HOOK token sale, if possible.
How to participate in the HOOK token sale?
The only way to participate in the HOOK token sale is through Binance launchpad. To be eligible, you will need to hold BNB tokens inside Binance. The more BNB tokens you would hold, the higher allocation you would get.
To conclude
All in all Hooked Protocol seems like a promising addition to the crypto space that is in need of trustworthy projects today. With the backing of Binance as well as Sequoia this new protocol seems like a great development that you must keep an eye on.