Web3 has been around for a while, but a number of factors, including high entry barriers and a lack of education, have prevented the technology from expanding and becoming widely used. For this problem to be tackled, there's a need for innovative solutions that can lower the barriers and make the technology comprehensible across various levels of knowledge.
There are currently different solutions across different blockchains, however, there should be infrastructure in place to equip businesses and individuals with the knowledge they need in an engaging manner. This innovative solution is what Hooked Protocol aims to provide by solving one of the biggest challenges of web3 adoption.
What is Hooked Protocol?
Hooked Protocol is a cryptocurrency project that aims to increase web3 adoption through a gamified "Learn and Earn" strategy. This strategy combines web3 mechanics and interactive learning to draw users as well as onboarding solutions for companies to enter the web3 ecosystem using decentralized applications (DApps).
Features of Hooked Protocol
i. Create a simple and enjoyable way for everyone to access and own cryptocurrency. ii. Simplify the transition to Web3 for developers and apps.
iii. Form a thriving community with unlimited growth potential using decentralized social networks.
How Does Hooked Protocol Work?
Hooked Protocol makes use of a gamified and engaging learning experience for beginners featuring streamlined mechanics. Classic Web3 components such as PoW, Quiz-to-Earn, Referrals & Wallets, and NFTs are integrated into an exciting educational approach that incorporates DAOs, the metaverse, and mentorship to simplify the learning curve.
Exciting Education Approach
Hooked Protocol employs an engaging approach to introducing users to Web 3. The project launched one of its products, Wild Cash App, in Q3 2022, to simplify Web3 in a fun way. The app experienced incredible growth within just three months after launch. There were 2.5 million active users, and 50,000+ daily new users, with 90% of product engagement. To implement its innovation, WildCash employs a variety of techniques, such as the following:
Quiz to Earn Crypto
Users answer questions and earn Hooked Gold token rewards. The more complex the quiz, the greater the reward for answering such questions.
PoWT (Proof of Work and Time)
Users get Hooked Gold tokens as rewards in exchange for their time and energy invested in the platform.
Social Referrals
Users can refer others to the platform to learn about blockchain and earn Hooked Gold Tokens.
Stake and Swap
Users can swap their Hooked Gold tokens for BUSD, transfer their assets to a different wallet, and even stake their tokens using the Hooked wallet.
How Does the Hooked Protocol innovatively Onboard into Web3?
The Hooked protocol eliminates the high barrier of Web3 by serving as the entry for new users. It employs Soulbound Tokens (Hooked SBT) to provide them with a seamless digital identity in the Web3 world. With the help of a simple crypto wallet, users can create and store their Web3 assets. They can interact with protocols safely on the blockchain using BNB's on-chain accumulated behaviour data.
How is Hooked Protocol Expanding its Ecosystem?
Currently, Hooked Protocol uses a social network with self-evolving growth, both organically and virally, implemented as a decentralized application (DApp). The platform features a robust onboarding infrastructure with features such as digital identity (DID), an integrated wallet, and a social graph interface. In the future, it aims to create a marketplace for efficient resource allocation through bilateral economic engagements.
Token Structure
Hooked Tokenomics adopts a segregation strategy using a governance token ($HOOK) and an in-ecosystem utility token, $HGT, (Hooked Gold Token), to avoid pump-and-dump schemes. The $HOOK reflects the value of the Hooked Protocol ecosystem, while HGT incentivizes the community and enables common use cases. The liquidity of $HGT is managed through the unlocking mechanism of $uHGT (Unlocked Hooked Token), which is community-driven and adjusts based on algorithms to ensure a sustainable model.
Final Thoughts
The Hooked Protocol is a rapidly growing technology that offers a wide range of cutting-edge products. Its focus is on Web3 innovation, and it is continually developing new solutions to meet the changing needs of its adopters. As a result, users can always expect more exciting new products in the future. Whether you are looking for an innovative Web3 solution or just want to stay ahead of the curve, you should be on the lookout for Hooked Protocol.