As an effort to keep Hooked Family members updated, here's the latest development progress by September. 17th, 2023 ✨

Welcome to Hooked Protocol's Community channel aggregated by CoinMarketCap.

#HookedNewsFlash  As an effort to keep Hooked Family members updated, here's the latest development progress by September. 17th, 2023 ✨ https://medium.com/@HookedProtocolOfficial/bi-weekly-update-september-17th-2023-389689461ee6

## What Is Hooked Protocol (HOOK)?

Hooked Protocol is the pioneering immersive edutainment network to onramp the next billions of people into Web3. Hooked’s mission is to drive Web3 massive adoption by providing immersive, gamified, and social learning experiences.

Hooked offers a seamless and intuitive onboarding path for both learners and builders through offerings of 3 focuses of their businesses: Infrastructure, Academy & Ecosystem.

As of now Hooked has launched 3 dApps and products: Wild Cash, a Quiz-to-Learn Web3 bootcamp product for elementary learners with over 3 million monthly active users; ToDaMoon, a livestreaming Learn-to-Earn product for preparatory learners with 1,000,000 total competition participation; Hooked Academy Sensei, a Learn with AI-Sensei & exploratory learning product powered by AI technology with over 100,000 registered learners.

Hooked is also developing itself towards substantial development of Web3 onboarding infrastructures to onramp builders, and meanwhile forging powerful partnerships and robust economic vitality within the ecosystem to boost massive adoption.

Hooked tokenomics adopts a segregation strategy by applying a single token (HOOK) oriented structure, reflecting real value and enabling common use case functions, to avoid the scenario where pump and dump schemes happen.

HOOK is the only governance token with liquidity in the ecosystem, designed to reflect the value that flows across the Hooked platform with limited supply and scheduled emission scheme.
HOOK’s long term value is tied with the confidence people hold for the project, and the supply of HOOK is fixed and designed to be deflationary.

HOOK token utilities are mostly built in for community governance, gas tokens for platform on-chain activities, staking incentives as holding rewards, social elements demonstrations with status signaling and individuality, and for more long-range objectives, valuable innovations contributing to the ecosystem thriving. More details about our token $HOOK, please refer to: https://hooked-protocol.gitbook.io/hooked-protocol-whitepaper/hooked-tokenomics/hook   

With its academy, infrastructure, and ecosystem, Hooked aims to revolutionize Web3 education and bring new forces to onboard Web3.


## Who Are the Founders of Hooked Protocol?

The Hooked Protocol team consists of three key people: Jason Y. (Founder), Mike Y. (CTO) and Jess L. (CMO).

Jason Y has 10 years experience in growth strategy and consumer internet at Uber and Meta; Mike Y is an engineer with a background in large-scale financial services and consumer product development; Jess L. has experience in Silicon Valley's leading technology organizations (including Uber and Google), and she specializes in marketing, strategy and business development.


## What Makes Hooked Protocol (HOOK) Unique?

Hooked Protocol offers tools to facilitate the use of Web3 by users.
- Hooked Soulbound Token (Hooked SBT): A web3 "passport" that can only be minted once and cannot be transferred.
- Hooked Wallet: A crypto wallet that facilitates storage, transactions, and other activities related to Hooked Protocol.
- On-chain data storage: The project's data is stored on BNB Chain and is accessible to all users.

Hooked solution, unlike other social-fi products, aims to provide easy, enjoyable Web 3 accessibility for Web 2 users by some following competitive advantages:

- Fast-growing community gateway for Web3 onboarding: Hooked is building a set of user-facing products with intriguing incentives and gamified experience for
new user onboarding. Social referrals play a key role in community formation. The sharing process enables users to establish a web3 social graph and monetize it.

- Onboarding solutions for business: Hooked's integrated infrastructure will provide seamless Web3 onboarding solutions for businesses.

- Web3 Gamified Social Learning Platform to well match between education and entertainment

## History of Hooked Protocol

"Hooked Protocol's mission is to build the on-ramp layer for massive Web3 adoption, providing tailored Learn & Earn products and onboarding infrastructures for users & businesses to enter the new world of web3.

The first pilot product, Wild Cash, with Quiz-to-Earn experience and other gamified learning features, achieved an impressive growth of over 3 million monthly active users. For the immediate future, the main focus is on enriching user experience by providing more content and features, and to make the experience available to a wider global audience."


#### Related Pages:

Read about [Axie Infinity (AXS)](https://coinmarketcap.com/currencies/axie-infinity/) and [Dohrnii (DHN)](https://coinmarketcap.com/currencies/dohrnii/).

What is Web 3.0? Find out more with [CMC Alexandria](https://coinmarketcap.com/alexandria/article/what-is-web-3-0).

What is the BNB Chain and how does it work? [Here](https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain) are some of the highlights.

Learn more about decentralized applications (dApps) with the [CMC glossary](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps).


## How Many Hooked Protocol (HOOK) Coins Are There in Circulation?

$HOOK is Hooked’s native cryptocurrency; it’s used to govern the Hooked Protocol. The HOOK token is deployed on the [BNB Chain](https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain) and has a total supply of 500,000,000 coins, which are distributed as follows:

30% to Ecosystem / Treasury;

25% to the Community;

20% to the Team and Advisor.

20% to Private Sale;

5% to Community Sale (Binance Launchpad Sale);

The token sale started on November 24, 2022 and lasted until December 1, 2022 on the Binance Launchpad platform.

Hooked users can use $HOOK tokens to: Govern the platform via voting; Pay the network’s gas fees; Access exclusive events, perks and products, including NFTs; Buy in-game tools. 

Additionally, users receive any staking rewards in HOOK tokens.


## How Is the Hooked Protocol Network Secured?

HOOK is the native [BEP-20](https://coinmarketcap.com/alexandria/glossary/bep-20) token of Hooked Protocol, meaning that it runs on and is secured by the [BNB Chain](https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain). 

## What can Hooked Protocol (HOOK) be Used For?

HOOK token utilities are mostly built in for community governance, gas tokens for platform on-chain activities, staking incentives as holding rewards, social elements demonstrations with status signaling and individuality, and for more long-range objectives, valuable innovations contributing to the ecosystem thriving.

Governance platform token for Hooked ecosystem
One of the most fundamental utilities of HOOK will be community governance, representing stakes and votes in ecosystem proposals.

Gas token for Hooked Application Rollup
As we are building rollup infrastructure on top of L1s to support our DApp ecosystem, HOOK will be used as the gas token for all economic activities.
In the future, all DApps in the ecosystem built on top of Hooked platform will also be using HOOK as the gas token for on-chain transactions.

Access token for exclusive NFTs and privileges of community events
Community members will be motivated to hold tokens to get access to exclusive community events and grants to purchase limited editions of platform NFTs, which demonstrate community social status and network impacts.

Furthermore, HOOK will be put into innovation practices which overall benefit the ecosystem of both individual participants and businesses, ensuring considerable liquidity and token value will grow in direct proportion for the success of the whole community.

## Where Can You Buy Hooked Protocol (HOOK)?

At the time of writing, Hooked Protocol (HOOK) is listed on a number of crypto exchanges, including [Binance](https://coinmarketcap.com/exchanges/binance/), [Gate.io](https://coinmarketcap.com/exchanges/gate-io/), [Bybit](https://coinmarketcap.com/exchanges/bybit/), [Bitget](https://coinmarketcap.com/exchanges/bitget/), [LBank](https://coinmarketcap.com/exchanges/lbank/), [MEXC](https://coinmarketcap.com/exchanges/mxc/), [BitMart](https://coinmarketcap.com/exchanges/bitmart/), [NovaDAX](https://coinmarketcap.com/exchanges/novadax/), [Bitrue](https://coinmarketcap.com/exchanges/bitrue/), [Hotcoin Global](https://coinmarketcap.com/exchanges/hotcoin-global/), [Mandala Exchange](https://coinmarketcap.com/exchanges/mandala/), [CoinW](https://coinmarketcap.com/exchanges/coinw/), [BingX](https://coinmarketcap.com/exchanges/bingx/) and [ZT](https://coinmarketcap.com/exchanges/zt/).

Discover the latest news, crypto insights and trading analysis with the [CMC Alexandria](https://coinmarketcap.com/alexandria).

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