Hooked Protocol (HOOK)

Web3 Onboarding and Accessibility

Hooked Protocol helps Web2 users easily enter the Web3 world by providing a smooth and fun onboarding experience. It offers tailored Learn & Earn products that combine education with rewards to motivate users to learn about blockchain and crypto.

Gamified Learning

The platform uses games and quizzes to teach users about Web3. Users can earn tokens by participating in these activities, making learning interactive and rewarding.

Social and Community Features

Hooked Protocol includes social elements like a decentralized social graph where users can connect, share, and monetize their Web3 activities. It also supports community governance through its native token.

Wallet and Token Utilities

Hooked Protocol provides the Hooked Wallet for storing, staking, and swapping crypto assets. The HOOK token is used for governance, staking rewards, paying transaction fees, and accessing exclusive events or NFTs.

Business Onboarding

The protocol offers onboarding solutions for businesses to enter Web3, helping them integrate with decentralized applications (dApps) and build Web3-based products.

Ecosystem and Token Structure

Hooked Protocol uses a dual-token system: HOOK (governance and main token) and HGT (in-ecosystem utility token). This structure supports real activity and common use cases within the platform.

In summary, Hooked Protocol is designed to make Web3 easy and fun to use through gamified learning, social features, and practical tools for both users and businesses.

Pros

• Focuses on Web3 education with gamified learning, making it easier and fun to understand blockchain and crypto concepts.
• Offers community governance, allowing token holders to participate in decision-making.
• Provides staking incentives, rewarding users for holding tokens.
• Runs on the BNB Chain, benefiting from fast transactions and low fees.
• Has a growing user base, with over 2 million monthly active users on its pilot product Wild Cash.
• Supports social features like status signaling and individuality within the platform.
• Available on major exchanges like Binance, making it easy to buy and trade.

Cons

• Token price has shown volatility, with recent declines in value.
• Token distribution is somewhat concentrated among team members and partners.
• Still developing its ecosystem, so some features and partnerships are in early stages.
• Market competition is strong in the Web3 education and social learning space.
• Requires users to be somewhat familiar with crypto wallets and exchanges to fully use the token.

For more details, visit the official Hooked Protocol documentation and community channels.

Founders of Hooked Protocol

• Jason Y. is the founder and CEO of Hooked Protocol. He has over 10 years of experience in consumer internet and growth strategy, having built multiple products with over 100 million users.
• Mike Y. serves as the CTO, with a background in product development and financial services engineering.
• Jess L. is the CMO, bringing marketing expertise from companies like Uber and Google.

These three key people lead the Hooked Protocol team.

Investors in Hooked Protocol

• Binance Labs: The investment arm of Binance, one of the largest crypto exchanges, is a key backer of Hooked Protocol.
• Sequoia Capital: A well-known venture capital firm that supports innovative tech projects, including Hooked Protocol.
• Binance Launchpad: Hooked Protocol was the 29th project on Binance Launchpad, attracting over 114,000 investors who committed more than 9 million BNB during its subscription period.

These investors highlight strong support from both major crypto industry players and venture capital firms.

Halal Status of Hooked Protocol

• Yes, Hooked Protocol is considered halal.
• This is because it generates revenue through platform fees, educational content, and partnerships without involving interest-based (riba) mechanisms, aligning with Islamic financial principles.
• The project focuses on education and social learning in Web3, avoiding prohibited financial activities.

For more details, you can visit the halal report on Hooked Protocol at Practical Islamic Finance.