what_is.title

Launched during the extra volatile times of crypto in 2022, Hooked Protocol (HOOK) manages to amaze the market with their innovative products and amazing achievements, attracting massive recognition and interest from the crypto community.

Overview of Hooked Protocol

Hooked Protocol is a Web3 ecosystem on the BNB Chain that aims to make it easier for everyone, individuals and enterprises alike, to enter the Web3 space. The protocol offers a suite of solutions, such as different Learn-to-Earn products to incentivize people to educate themselves on blockchain and Web3, SocialFi (social media and with DeFi elements) dapp, user-friendly crypto wallet, and other onboarding infrastructures.

While the team behind the project is practically anonymous to the majority of users, Hooked Protocol is backed by giants in the market like Binance, Sequoia Capital, and Whampoa Group. Seriously, who needs a long list of partners and backers when the GOATs (Greatest of All Times) are on your side?

In the second quarter of 2022, the project was announced, and finished their seed round fundraising. Then in the third quarter of the same year, Wild Cash, a Quiz-to-Earn dapp that gamifies learning about Web3, was released in Indonesia and gained great ranking in Google Play. The dapp got more than 50,000 daily active users on their first day of launch and was the top-rated SocialFi dapp on DappRadar.

At the moment of writing this article, which is the final quarter of 2022, Hooked Protocol already gathered more than 2 million monthly active users after a short period of operation. Following the massive initial growth, the project is running an IEO on Binance Launchpad to raise funds for further development, which is scheduled to end on December 1.

In the first half of 2023, Hooked Protocol is set to release their own crypto wallet, expand their business partners, and introduce more gamified learning solutions. And for the latter part of 2023, besides releasing more dapps, the protocol wants to decentralize the governance of the project by introducing a DAO, and thus become one of the biggest and most active communities in the crypto space.

HOOK Token

Hooked Protocol is powered by a triune token system, with HOOK token being the governance token, Hooked Gold Token (HGT) being the utility token, and Hooked Soulbound Token (Hooked SBT) providing digital identity for users of Web3.

HOOK token reflects the value of the whole Hooked Protocol, and allows holders to actively participate in the development of the project. HOOK can be used to join governance, pay for gas for on-chain transactions, staking incentives, and special access to NFTs, among many other exclusive privileges.

Despite hailing the project as a decentralized initiative for the community, the distribution of HOOK is very concentrated on the team members and their partners. Their shares account for 40% of the total HOOK supply.

HOOK token's distribution (Source: Hooked Protocol Website)

Nonetheless, according to the vesting schedule for HOOK, the tokens for the team and their partners are not released until February 2024. They only receive 100% of their portions until December 2029 to guarantee long-term commitment to the project.

The release schedule for HOOK token (Source: Hooked Protocol's Whitepaper)

How to Buy HOOK Token on Bitget

HOOK will have its public fundraising in the fourth quarter of 2022. However, not everyone is eligible to join such fundraising events and even if you are eligible, it is difficult to claim your spots because the allocation runs out extremely fast. Thus, the easiest and most convenient way to buy HOOK is to purchase it via an exchange that offers various payment options like Bitget. You can use Google Pay, Apple Pay, or different credit cards to purchase HOOK on Bitget.

Step 1

Go to Bitget and sign in (or create a new account if you have not already and claim $4,163 new user reward).

Step 2

Deposit USDT into your Bitget spot account or purchase some if you have none. You can buy USDT via P2P trading or with fiat on Bitget.

Step 3

Click here to buy HOOK tokens with USDT. The real-time order book will help you adjust your price dynamically and have the most suitable pricing.

Step 4

To check the HOOK tokens you own, go to "Assets" then choose "Spot Account".

Disclaimer: All products and projects listed in this article are not endorsements and are provided for informational purposes only.

Follow Us For More Insights: Twitter | Telegram | LinkedIn | Facebook | Instagram