Hooked Protocol (HOOK): Definition and How it Works

Bittime - Hooked Protocol (HOOK) is a Web3-based social learning platform. This platform combines educational elements with a reward system. This article will discuss the meaning and how it works. Stay tuned!

Through its unique approach, Hooked Protocol seeks to overcome the challenges of Web3 adoption and open the door for more people to understand and engage in this digital revolution.

What is Hooked Protocol (HOOK)?

Hooked Protocol is a Web3-based social learning platform that carries the concept of gamification. Designed to create a thriving community, the platform offers Learn & Earn products tailored to user needs. 

More than just an educational platform, Hooked Protocol also functions as an onboarding infrastructure. Additionally, they provide decentralized applications (DApps) to help more businesses enter the Web3 ecosystem.

Hooked Protocol's ultimate vision is to address three major challenges in Web3 adoption: lack of user motivation, high barriers to entry, and limited adequate Web3 education. 

By adopting an innovative educational approach, Hooked Protocol seeks to encourage more users to start their journey in the Web3 world.

Read also: Catizen Mini Games Center is here, Have Fun while Making Money!

How Does the Hooked Protocol (HOOK) Work?

Hooked Protocol relies on three main elements in its educational approach. Here is the explanation:

1. Education Oriented Innovative Products:

One of the flagship products is Hooked Academy, a 30-second meme video portal for Web3 learning. It offers an intuitive method for users to learn Web3 concepts.

2. Social Referral Mechanism:

Hooked Protocol takes advantage of what they call 'social graph expansion'. Users can build and generate revenue from the new Web3 social graph by sharing invitations.

3. Onboarding Solutions for Business: 

With integrated infrastructure, Hooked Protocol provides a seamless Web3 onboarding solution for businesses. It includes a unified login facility with Hooked DID infrastructure, built-in wallet solution, social graph, and user growth engine.

Prestasi Hooked Protocol (HOOK)

Since launching in late 2022, Hooked Protocol has achieved several important milestones. Their first DApp, Wild Cash, became the largest on the blockchain by far, with over three million monthly active users. 

Wild Cash is designed as a gateway to Web3 resources in emerging markets, offering a variety of gamified experiences such as Quiz to Earn, Proof of Work and Time (PoWT) mining games, social referrals, and staking and swapping via Hooked Wallet.

Read also: Gatto Game Launches The Paws Up Tournament

What are HOOK Tokens?

Hooked Protocol uses two types of tokens: Hooked Gold Token (HGT) as a utility token, and HOOK as a governance token. HOOK tokens serve several important functions in the ecosystem, including:

• Voting rights in Hooked ecosystem decision making
• Access to community event privileges
• Access to exclusive NFT minting
• Rewards for staking
• Currency for certain in-app purchases

In the future, HOOK will also serve as a gas token for all economic activities within the Hooked Application Rollup Infrastructure.

Conclusion

Hooked Protocol offers a fresh approach to increasing Web3 adoption. By combining fun learning, financial incentives, and easy-to-use onboarding solutions, this platform has the potential to bridge the gap between lay users and complex Web3 technologies. 

While the Learn to Earn model is nothing new in the crypto world, Hooked Protocol's holistic approach includes education, gamification, and business infrastructure. This provides significant added value.

As interest in the next generation of the internet grows, Hooked Protocol is positioning itself well. This is to play an important role in shaping the future Web3 landscape. 

This is a review of the meaning and workings of the Hook Protocol (HOOK). Hope this article is useful, yes!

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn How to Buy Crypto on Bittime.

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.