Understanding the concepts of blockchain, crypto, DeFi, and Web3 can be challenging and time-consuming. Many users need help to engage in the Web3 ecosystem. That’s where Hooked Protocol comes in. It offers easy-to-understand educational resources about Web3 that also allow users to earn money while learning. In this article, we will explore more about Hooked Protocol and its products.
Article Summary
- 📚 Hooked Protocol is a crypto project focused on building an on-ramps layer for new users to enter the Web3 world through education. The project runs on the Binance Smart Chain (BSC) network.
- 🎮 Hooked’s primary goal is to encourage wider crypto adoption by providing the community with a simplified and gamified learning experience. The platform also uses the learn-and-earn method.
- 📱 Users can learn through the Wild Cash dApp, available on Android. This app’s language, quiz questions, and currency have been adapted to the Indonesian version. Other educational products in development include Hooked Academy Sensei, Hooked Academy, and more.
- 🪙 Hooked implements two tokens on its platform, HOOK and HGT. HOOK is the primary token that serves as the governance token, while HGT is the utility token used to pay rewards on the Hooked platform.
What is Hooked Protocol (HOOK)?
Hooked Protocol is a crypto project focused on building an on-ramp layer for new users to enter the Web3 world through education. Web3 is a term that refers to a new generation of the internet that is more decentralized, transparent, and gives more control to users. The platform runs on the Binance Smart Chain (BSC).
Understand more about What is BscScan and How to Use It?
Hooked is on a mission to be the on-ramp layer for massive adoption in the Web3 world. The on-ramp layer is the initial layer of exchange of fiat money to crypto assets. Hooked introduces the use of fiat money such as rupiah and dollars into the use of crypto assets through its products.
Hooked’s primary goal is to drive wider crypto adoption by providing the community with a simplified and gamified learning experience. The platform also uses the learn-and-earn method. That is, by providing an opportunity for users to learn while being rewarded with crypto assets.
Hooked implements two tokens on its platform, HOOK and HGT. HOOK is the primary token that serves as the governance token, while HGT is the utility token used to pay rewards on the Hooked platform.
Hooked uses a Web3 gamification approach to increase user interest and participation. It created Wild Cash, a dApp that integrates game elements such as quizzes, challenges, or rewards to encourage users to participate in their learning actively.
The project introduces Web3 concepts in a simple and fun way. Concepts such as blockchain technology, decentralized applications (dApps), crypto assets, NFTs, and DeFi become easy to understand.
Also, read Web2 vs. Web3: The Difference and the Future.
Who Created the Hooked Protocol?
Hooked Protocol was created by Jason Y, an ex-growth manager at Uber who has over ten years of experience in consumer internet and growth strategy. Jess L and Mike Y are the CMO and CTO of Hooked Protocol, respectively. The Hooked development team is mainly pseudonymous, including the aforementioned Hooked C-levels.
However, the crypto project has notable backers such as Binance Labs, Sequoia, Primitive, Whampoa, and Animoca Brands.
The HOOK token was launched via Binance Launchpad in late 2022. Hooked Protocol is the 29th Binance Launchpad project. HOOK starts trading on Binance with the pairs HOOK/BTC, HOOK/USDT, HOOK/BUSD, and HOOK/BNB on December 1, 2022, at 14:30 (UTC).
How Does the Hooked Protocol Work?
As an innovative Web3 learning platform, Hooked implements three main elements as follows:
- Web3 Learning Methods
To provide simple and fun Web3 education, Hooked developed several educational products, such as Wild Cash, Hooked Academy Sensei, Hooked Academy, and several others educational products. In Hooked Academy Sensei, users can interact with virtual tutors integrated with ChatGPT. Interestingly, you can choose virtual tutors with special characters who interact like humans. Currently, this product is still in the beta stage.
Unlike Hooked Academy Sensei, Hooked Academy provides 30-second meme videos for Web3 learning. AI-powered characters produce the content to make Web3 learning structured and fun. Hooked Academy is currently under development by the Hooked developer team.
- Social Media Referral System
To grow its community, Hooked implements a social media referral system. In the Wild Cash dApp, users can share referral codes via social media (Facebook and Whatsapp), share posters, and scan QRs.
You can generate more revenue when your referral friends “mine” with a click on the button. The percentage amount you are rewarded will be determined by the platform. The more your referrals mine, the more you earn.
- Integrated Infrastructure for Businesses
Hooked’s integrated infrastructure includes several features to help businesses enter and operate within the Web3 ecosystem more efficiently. Some key components include a one-login process with a Decentralized Identity (DID), Hooked Built-in Wallet, social graph, and user growth engine.
Also, read What is Web 3.0?
Wild Cash – Learn and Earn Hooked Protocol App
As mentioned earlier, Wild Cash introduces users to Web3 concepts in an easy-to-understand way. Wild Cash is a gamified educational dApp where users can take quizzes, earn tokens, “mint NFTs,” and more. The app is available on Android but has yet to be available on iOS.
On Wild Cash, users can do the following:
- Take daily quizzes and compete with other players for more significant Gold rewards.
- Log in every 24 hours and earn rewards.
- Invite friends and create teams to earn Gold.
- “Mining” Gold by clicking buttons to move animated avatars. It shows how proof-of-work functions in mining Bitcoin.
- Take a “quiz to earn.” Users answer questions about crypto, blockchain, DeFi, NFTs, legal regulations, and more to win Gold.
- Watch ads to earn Gold.
- Stake, earn rewards, and withdraw Gold.
1 Gold has a value of 0.1 IDR. You can withdraw Gold in IDR directly to your bank account or available digital wallets such as Dana, Shopee Pay, and Ovo.
Wild Cash is Hooked Protocol’s first dApp to launch in late 2022 in Indonesia and Brazil. Within one month of its launch, Wild Cash had gained three million active users. Under the Global Expansion plan, Hooked also launched Wild Cash in Nigeria, Pakistan, Bangladesh, and soon in Turkey, India, Vietnam, and South Korea.
Hooked Protocol Roadmap
The Hooked development team’s focus for 2023 is to continue the success achieved and to serve the entire Web3 community better. Here’s the Hooked Protocol roadmap for 2023:
Q3-Q4 2023:
- Roll out HOOK token in ecosystem utilities continuously
- Hooked Ecosystem: Form an alliance of ecosystem partners around Web3 Massive Adoption; onboard & transform Web2 companies with large use base and high engagement
- Hooked Academy: Build & ship new Learn & Earn experiences across global markets
- Hooked Academy: Global expansion & Team up localized operations in Vietnam, Turkey, South Korea, etc.
Q4 2023:
- Hooked Onboarding Infra: Hooked Lego System (A full suite solution of dev infra) launch for Web2 Apps integration
- Hooked Ecosystem: Launch Hooked Metaverse experience as ecosystem flagship products
Conclusion
On the Wild Cash dApp, Hooked showed that no one would lose assets or money on the game. That security is a good on-ramp into the potentially risky world of Web3.
Hooked wants to provide a better understanding of Web3 to the broader community through features like stories, animations, and safe learning tools. It also has ambitious global expansion plans to develop a more enriched content learning platform.
How to Buy HOOK Token on Pintu
You can start investing in HOOK by buying it on Pintu app. Here is how to buy crypto on Pintu application:
- Create a Pintu account and follow the process of verifying your identity to start trading.
- On the homepage, click the deposit button and top up the Pintu balance using your preferred payment method.
- Go to the market page and look for HOOK.
- Click buy and fill in the amount you want.
- Now you have HOOK as an asset!
In addition, Pintu application is compatible with various popular digital wallets such as Metamask to facilitate your transactions. Go and download the Pintu cryptocurrency app on Play Store and App Store! Pintu is regulated and supervised by Bappebti and Kominfo.
You can also learn more crypto through the various Pintu Academy articles which are updated every week! All Pintu Academy articles are for educational purposes, not financial advice.
References
- Hooked Protocol Team, Introduction to Hooked Protocol, Whitepaper, accessed 8 Juni 2023.
- Hooked Protocol, Hooked — The Compass of Web3 Voyages, Medium, accessed 8 Juni 2023.
- Việt Hoàng, Khoa Dang dan Dean Trinh, What is Hooked Protocol? The Project That Invested By Binance Labs, Hold Station, accessed 8 Juni 2023.
- Charlie Butler, Hooked Protocol’s 85,000% User Increase Amazes the Web3 Industry, DappRadar, accessed 8 Juni 2023.
- Racheal Oyedepo, What you should know about Hooked protocol, Crypto Tv Plus, accessed 8 Juni 2023.
- Hooked Protocol, Hooked’s Product Development Plan for Q1, Twitter, accessed 8 Juni 2023.