In this topic, I just want to give my review on a new project that appeared here in the crypto industry recently on Binance. We will only find out the overview of the project, what is its use case? Is it worth investing here? So for anyone who wants to invest here, first read this topic that I will do, so that you can also know the risk here in the Hooked protocol, whether it is high risk or lower risk.
Disclaimer: This is not a piece of financial advice, this is for educational purposes only. Please only invest what you can afford to lose. I encourage you to do your research before investing (DYOR).
What is this Hooked Protocol? This is a web3 project developing an on-ramp player for massive web adaptations. And one of them is the product they offer "Learn to Earn", and other infrastructure to attract more users and businesses to enter web3.
Now, let's talk about the product of Hooked Protocol, one of them is 'Gamified learning' which is a streamlined education system combined with 'Immersive Learning and Inquisitive Learning (curiosity-based learning)' One of them is the 'Wild cash dapp' which if where there is a "Quiz-to-Earn". And you can also participate in crypto buzz sectors such as:
- NFT
- Games
- Innovative content including Hooked
- Short videos
- Community from Dao's
- Enrich the learning experience
- Reduce users learning curve in a fun and engaging way
And this is the wild cash that you can see on their website and right now it can only be downloaded on android so far. I just tried to download it to know how we can earn from it. From what I've seen, he's easy and often repeats the question. And for every correct answer, you can get token rewards.
There is also a simulation of Pow mining games, maybe just to implement the work to know how the process of how the mining is done, and there is also a referral (refer to earn) you already know that, as long as it is free to play Wild cash.
What are the Web3 onboarding combos?
- Identity
- Assets
- Engagements
So far there are not many details about it. It's just that what they say in their whitepaper is that this is the "Complete suite of WEB3 onboarding solutions to facilitate their Web3 transformation. Their details are a bit lacking, they haven't provided an image, or a video presentation so we can have an idea of what they are saying here.
Hooked Tokenomics
They have a dual token here, HOOK and the HGT.
Hook serves as the governance token of the project, it was launched in the Binance launchpad sale recently and it is supported by Binance. That's why many people became interested in HOOk, because Binance itself promoted it. Because not everyone is supported by binance and it is also possible that they saw something good in the project.
The distribution of their tokens can also be seen on their website, of which only 5% went to their binance launchpad and so on. As long as it's the same as other projects, those tokens won't be released all at once. And the beauty here is that we can see the details on the website, so it will take until 2029 to release all the tokens. It also only has a 500M total supply.
The utility of the Hook token aside from being a governance hook token of the ecosystem, it can also be used as a "Gas token for hooked application Rollup" Because they say "They are building Rollup infrastructure on top of L1s to support dapp ecosystem, so it can also be used the Hook as the gas token for all economic activities.
HGT Now let's talk about this token. It has an Infinite supply and constant minting and spending mechanism. The fundamental value of this utility token is tied to the monetization capabilities of the Hook protocol.
To prevent the issue of token and Inflation price volatility, these are common issues in play-to-earn games. They have an "Unlocking mechanism" there is a certain amount we need to reach so that we can unlock the token earned here on the platform so they have something called uHGT
Token Utility and use Cases this HGTWe can earn it when we all finish the task and this is the reward we can get. " All HGT is created and has to be earned by users completing in-app quests.
- Quiz-to-earn training camp
- Quiz-to-earn competitions
- Referral and social networking leverage
- Emulation of classic crypto practices
- Incentive-driven Gamified experiences
And we can use this HGT token to
"For access to events", "Virtual assets and Properties", Enhanced gaming experience, As well as advanced Rewards.
uHGT Clarification This is what we have earned in the game, we need to unlock it and convert it into uHGT. That means unlocked Hooked Gold tokens. Once we unlock it, it will be tradeable with other crypto assets.
HGT unlocking mechanism they have a specific amount that is required before being able to unlock for the growth of the ecosystem. And other free-to-play game sets have done it too. So the approach they took is not new.
As for the Roadmap of the project, what we are looking forward to is 2023
more diverse gamified learning experiences, collaboration, and partnership with other web3 projects wallet solution integration.
So this is the Web3 onboarding combo they are talking about. And they have many more plans here next year.
When it comes to their Team, Who is its Founder? it's just sad because the information they put on their website is lacking. I also tried to research if I found anything on the linked in of the Founder and CMO but I didn't find any picture. So, they are anonymous, but this is also a reason for other investors not to trust this project.
But from another angle, maybe Binance wouldn't support it if its founders didn't introduce themselves. Maybe they paid Binance to support their project, but not because Binance has a lot of money, and they have a reputation to take care of. And I also think that Binance will not let its reputation be tarnished, even now that they trust the centralization exchange platform a little bit.
Referrence:
https://hooked.io/Referrence:
https://hooked-protocol.gitbook.io/hooked-protocol-whitepaper/introduction-to-hooked-protocol/overview 
