Understand Binance Launchpad's new project Hooked Protocol in one article
Today, Binance announced the upcoming 29th Launchpad project Hooked Protocol (HOOK). Since Binance launched the first phase of Launchpad in January 2019, users have high expectations for the projects that are lucky enough to land on Launchpad, and the project tokens have also increased gratifyingly. Next, Odaily will take you to understand Hooked Protocol.
Hooked Protocol is a Web 3 social protocol where users can earn money through learning and enjoy a gamified experience. Hooked Protocol products are divided into three parts:
Streamlined, fun, and gamified learning products
For novices who are new to the encryption industry, learning Web 3 knowledge and how to use Dapp is a big problem. The high-threshold knowledge system and complex applications keep many newcomers out. Hooked Protocol hopes to solve this problem through immersive learning and inquiry learning.
Immersive learning will embed some classic Web 3 concepts and mechanisms, including PoW, Quiz-to-Earn, Referral & Wallets, and NFT, etc. Novice users can master the corresponding Web 3 concepts in the process of participating in NFT and GameFi.
Inquiry-based learning is to innovate learning content and guide learning methods by using DAO in the Metaverse. Innovative content includes Hooked Academy short videos, community-formed DAOs, which also aim to enrich users' learning experience in a fun and engaging way.
Learn to Earn Dapp——Wild Cash
Combining the above streamlined and interesting gamification learning concepts, Hooked Protocol created the first Dapp - Wild Cash. Wild Cash is a multifunctional learning and earning DApp that combines Quiz-to-Earn mechanism, various interesting in-app rewards, built-in wallet and user digital identity.
With Wild Cash, you can learn mining with millions of online players anytime, anywhere and earn GOLD tokens as rewards.
In addition, Hooked combines the permanent income curve with a simplified learning curve, and all of them are embedded in Wild Cash. This function is also a key element and basic application for Hooked to build and develop the community.
In terms of user growth, after three months of launch, Wild Cash has 2.5 million monthly active users, adding more than 50,000 new users every day, and has become the only Web 3 application that has dominated the Google Play rankings for 9 consecutive days, even surpassing mainstream apps such as TikTok and WhatsApp.
text
secondary title
Economic Model of Hooked Protocol
Hooked Protocol adopts a dual token model:
HOOK: Mainly used for community governance, payment of gas tokens. In the future, all DApps in the ecosystem built on the Hooked platform will also use HOOK as the gas for on-chain transactions.
HGT (Hooked Gold Token): A user incentive token linked to platform profitability within the ecosystem. It is issued based on the number of tokens users earn for completing in-app tasks, rewarding users based on the duration and achievements of their activities. All HGT must be earned by users completing in-app tasks.
Token distribution:
Private placement: 20%
Community Sales: 5%
Community: 25%
Ecosystem/Treasury: 30%
Team and advisors: 20%
In September this year, Hooked Protocol was led by Binance Labs and Sequoia Seed Fund. Hooked Protocol will also be launched on the BNB Chain first, and will be expanded to other Layer 1 in the future.
