Hooked Protocol (HOOK), launched in late 2022, is a Web3 gamified social learning platform. It aims to address significant barriers to Web3 adoption, such as lack of motivation, high entry barriers, and insufficient education on Web3 concepts. With a strategic focus on interactive learning and incentivization, Hooked Protocol endeavors to simplify the entry into the world of Web3 for a broader audience. The protocol leverages an innovative education methodology, a social referral mechanism, and business onboarding solutions to foster a vibrant and informed community.
The protocol functions as a dual-token system: Hooked Gold Token (HGT), which functions as its utility token, and HOOK, serving as the governance token. These tokens facilitate various aspects of the ecosystem, including voting rights, access to community events, exclusive NFT mints, staking rewards, and in-app purchases. Particularly notable is HOOK's role as a deflationary token with a fixed supply of 500 million, aiming to sustain the ecosystem's viability and liquidity.
Despite its launch amidst a bear market, HOOKl's initial performance was notably bullish, with significant price movements observed soon after its debut. This performance, however, has seen fluctuations, indicative of the volatile nature of the cryptocurrency market. The platform's first DApp, Wild Cash, achieved remarkable traction with over three million monthly active users, highlighting the protocol's potential in driving Web3 adoption through gamified experiences.
