Hooked Protocol (HOOK) Paves Way For Expansive Growth With Rapid User Adoption
Bitget is excited to announce that our exchange will now be listing the HOOK token for traders who are looking to get on board early. HOOK is the governance token of the Hooked Protocol, which sets out to build the on-ramp layer for mass adoption of Web 3.0, and the project has already taken off with a great start, paving the way for expansive growth and adoption both in terms of its protocol as well as its token. This article will focus on some of the milestones the project has reached so far, and those looking to understand what exactly the Hooked Protocol is and how it works can head over to our other introduction here.
HOOK Listing Details and Allocation
Token Type: BEP-20 on BNB Chain
Total Token Supply: 500,000,000 HOOK
Listing Date: December 1, 2022
Initial Listing Price: 1 HOOK = 0.1 USDT
Source: Hooked Protocol's Whitepaper
Private Sale: 20% of Total Token Supply
Team: 20% of Total Token Supply
Treasury: 30% of Total Token Supply
Community: 25% of Total Token Supply
Binance IEO: 5% of Total Token Supply
The release schedule for HOOK token (Source: Hooked Protocol's Whitepaper)
Hooked Protocol Sees 25x User Growth In a Month
Because the Hooked Protocol focuses on onboarding users for widespread Web 3.0 adoption, the project focuses predominantly on education and building a community around it. Its current gamified experience comes in the form of the dApp Wild Cash, which utilizes Quiz-to-Earn mechanics that reward users who answer questions correctly. The tokens awarded to players can then be staked or swapped for other cryptocurrencies, and social referrals to friends and family will also grant bonus tokens. In the future, the HOOK token will also offer access to exclusive NFTs and privileges for community events, or be used for in-app purchases and gas fees too.
Thanks to these mechanics, Wild Cash occupied the top spot on Google Play for nine consecutive days in Indonesia, and has now achieved more than 2 million monthly active users. The figure translates to a whopping 25x growth in just one month. Since Q3 of 2022, the Hooked Protocol has also been ranked the top social media dApp by DappRadar, and still currently sits at first place with almost more than 1 million unique active wallets interacting with its smart contracts over the past 30 days. Along with Sequoia Capital, its other backer Binance is now holding an IEO for HOOK that’ll see another US$2.5 million raised for the project, no doubt further assisting the protocol’s development.
Roadmap For 2023
Looking ahead, the Hooked Protocol will wrap up 2022 with further global market expansion by launching its Quiz-to-Earn product in more regions. To facilitate user growth, the team will explore scaling solutions through Layer 1 infrastructure. For the first half of 2023, attention will be shifted to diversifying its gamified learning experiences offered while collaborating with numerous Web 3.0 projects and dApps to flesh out the Hooked ecosystem. Most significantly, it’ll also be launching its first integrated crypto wallet. Through the latter half of 2023, the Hooked Protocol will then aim at establishing a DAO and building middleware solutions, all while continuing to expand on both the user count for its community and the applications offered.
If you’re interested in trading HOOK early, Bitget spot trading for the token will launch on December 1, 2022, and you’ll find it at this link.
Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.
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