Hooked Protocol (HOOK)

Education and Onboarding

Hooked Protocol provides gamified learning experiences and Learn & Earn products to help users and businesses enter the Web3 world. It simplifies blockchain education through interactive apps like Wild Cash, which rewards users for completing quizzes about Web3. The platform also offers personalized learning paths and social referral mechanisms to encourage adoption.

Token Utility

The HOOK token is the native governance token used for community governance, paying gas fees on the BNB Chain, staking rewards, and access to exclusive events and NFTs. It reflects the ecosystem’s value and supports platform activities. The protocol also uses a utility token called HGT (Hooked Gold Token) for incentivization within the ecosystem.

Wallet and Transactions

Hooked Protocol includes the Hooked Wallet, a user-friendly crypto wallet that facilitates storage, transactions, and other Web3 activities, making it easier for users to manage their crypto assets.

Ecosystem and Community

The protocol gathers on-chain data to build community insights and supports decentralized autonomous organizations (DAOs) to enhance user engagement. It aims to create a social learning platform that combines education with entertainment, helping users earn and own cryptocurrency regardless of their prior experience.

Business Solutions

Hooked Protocol offers onboarding infrastructures and tailored Learn & Earn solutions for businesses to smoothly transition into the Web3 ecosystem and engage with decentralized applications (dApps).

Advantages

• Hooked Protocol offers fast transaction speeds, low fees, and a user-friendly interface, making it easy for users to interact with blockchain technology.
• It provides innovative Learn & Earn products and gamified learning experiences, helping users understand and adopt Web3 with incentives.
• The platform has a growing user base, with over 10 million users and a popular pilot app, Wild Cash, which has over 2 million monthly active users.
• Hooked Protocol includes useful tools like the Hooked Soulbound Token (a unique Web3 passport) and the Hooked Wallet for managing crypto assets.
• It supports community growth through social referrals and allows users to monetize their social connections.
• The ecosystem is designed to benefit both individual users and businesses, with ongoing collaborations and onboarding solutions.
• HOOK is the governance token with liquidity, designed to reflect the value flowing through the platform with a limited supply.

Disadvantages

• The price of Hooked Protocol has experienced significant volatility, including a large drop from its all-time high and recent negative returns.
• The market sentiment around HOOK can be pessimistic, and the token is considered high-risk with uncertain future price trends.
• The crypto market is competitive, and Hooked Protocol faces intense competition from other gaming and DeFi platforms.
• Regulatory changes and market sentiment can strongly affect the token’s price and adoption.
• The influence of large holders ("whales") can cause significant price fluctuations due to the relatively small market size.
• Some forecasts predict a bearish outlook for HOOK in the near term, reflecting market uncertainties.

This summary highlights the main strengths and challenges of Hooked Protocol based on current information.

Founders of Hooked Protocol

The Hooked Protocol team includes three key people: Jason Y. (Founder), Mike Y. (CTO), and Jess L. (CMO). Jason Y. is the founder with over 10 years of experience in growth strategy and consumer internet, having worked at companies like Uber and Meta. Mike Y. serves as the Chief Technology Officer with a background in product development and financial services engineering. Jess L. is the Chief Marketing Officer with marketing expertise from her time at Uber and Google.

Investors

Hooked Protocol is backed by top-tier investors such as Binance Labs and Sequoia Capital. It was also featured as the 29th project on Binance Launchpad, allowing early investors to participate in its growth.

Funding and Sales

The project had a public sale on Binance Launchpad, where 5% of Hooked tokens were allocated to early investors. Private sale prices were negotiated with institutional investors and high net worth individuals.

Support and Partnerships

Hooked Protocol has hosted AMAs with WalletConnect and BNB Chain to promote integration and adoption, showing strong community and investor engagement.

Halal Status of Hooked Protocol

• Core Activities: The main activities of Hooked Protocol, such as education and community building, are halal because they do not involve interest (riba), gambling, or any prohibited industries.
• Business Model: The Learn-and-Earn model rewards users for completing educational tasks and participating in community activities, which aligns with halal principles as it is based on genuine value exchange.
• No Interest or Gambling: The platform explicitly avoids interest-bearing mechanisms and gambling, which are not permissible in Islam.

Answer: Yes, Hooked Protocol is halal because its core activities and business model comply with halal principles.