What is Hooked Protocol, and how does it work?

For the uninitiated, the complexity of cryptocurrencies has been a steep obstruction successful onboarding. Hooked Protocol efficiently combines the learning of the cryptocurrency situation with GameFi.

The size of the planetary cryptocurrency marketplace is acceptable to emergence to $13.18 cardinal by 2030, surging astatine a compound yearly maturation complaint (CAGR) of 12.5% successful the forecast play (2023–2030). However, contempt the volume, the mainstream adoption of the exertion is excessively slow.

Launched successful precocious 2022, Hooked Protocol is simply a gamified societal learning level gathering an interactive and gamified on-ramp layer for caller users to hop into the Web3 world. The absorption is connected encouraging monolithic Web3 adoption by onboarding users done acquisition that is engaging and keeps the users hooked. Running connected the BNB Smart Chain, the protocol besides deploys the learn-and-earn concept.

As an experience-based Web3 acquisition platform, Hooked Protocol opens the doors of the innovative Web3 ecosystem to a mostly untapped audience. It seeks to resoluteness large challenges hindering Web3 adoption, namely the deficiency of capable Web3 acquisition and precocious barriers to entry. Through a gamified experience, 1 tin larn however to acquire, hold, commercialized and nett from a cryptocurrency.

The protocol enables and accelerates the Web3 translation of developers and applications. Capitalizing connected decentralized societal networks, it helps physique a thriving assemblage with scalability.

Three main elements successful the Hooked ecosystem are gamified learning, a mechanics for incentives and an integrated infrastructure of businesses.

Hooked Protocol follows a three-pronged attack to incentivize Web3 adoption:

Gamified learning

Hooked Protocol has adopted an immersive and inquisitive Web3 acquisition methodology. Hooked Academy Sensei enables users to converse with virtual tutors integrated with ChatGPT. There are virtual tutors with peculiar characters who person the capableness to interact similar humans.

Hooked Academy, meanwhile, provides 30-second meme videos to assistance users learn. These videos with artificial intelligence-powered characters marque the learning process structured and engaging.

Incentives

To accelerate adoption, Hooked Protocol has a mechanics of incentives:

• Quiz-to-Earn: Participants instrumentality quizzes to larn astir Web3 fundamentals and get rewarded with tokens.
• Proof-of-Work-and-Time (PoWT) Mining Game: Onboarders excavation to gain utilizing the PoWT mechanism, a statement method bringing successful a adaptable artifact clip scalable with mining power.
• Social Referral: Users get compensated for recommending their Web3 societal web to others.
• Stake and Swap: Users tin hone their skills successful Web3 concepts, specified arsenic staking, trading and transferring crypto tokens.

Infrastructure for businesses

Hooked Protocol has rolled retired integrated infrastructure to supply Web3 onboarding solutions for concern enterprises. Examples of specified infrastructure see a login process with a decentralized identity, a idiosyncratic maturation motor and a societal web integrated interface. The Hooked Soulbound Token acts arsenic the sole integer identity, granting assemblage members entree to the Web3 space.

Users besides get entree to the Hooked Wallet, which enables them to maneuver and orient with Web3 transactions, specified arsenic transferring cryptocurrency tokens, swapping and staking.

The protocol intends to physique a blockchain infrastructure with rollup applicability, which volition facilitate the consolidation of each ecosystem assets and data. Moving computational logic and information onto exertion rollups volition marque the protocol scalable.

Hooked Protocol uses a dual-token model, 1 of which is for governance and the different is simply a utility token.

The 2 tokens utilized connected Hooked Protocol are HOOK, the governance token, and Hooked Gold Token (HGT), the inferior token.

HOOK is utilized for:

• Voting decisions connected proposals
• Earning rewards
• Accessing exclusive nonfungible tokens (NFTs)
• Accessing assemblage lawsuit privileges
• Using arsenic currency for definite in-app purchases.

The protocol has plans to usage HOOK arsenic a state token for assorted economical activities wrong the Hooked Application Rollup Infrastructure.

Hooked Gold Token (HGT) is simply a inferior token providing the assemblage with ongoing incentives to contribute. Having an infinite supply, HGT is utilized lone successful the Hooked Protocol environment. However, the protocol has a mechanism successful spot to power the liquidity of HGT and trim the hazard of speculative attacks that mightiness harm the worth of the token.

Wild Cash offers users gamified learning of Web3 concepts portion enabling them to gain GOLD tokens.

Wild Cash, the archetypal decentralized exertion (DApp) connected Hooked Protocol, is simply a learn-and-earn exertion that enables caller users to gain GOLD tokens for doing quizzes and inviting friends to play. The societal notation mechanics connected Wild Cash allows users to stock referral codes and posters connected societal media and scan QR codes.

The DApp uses PoWT to support way of the users’ publication resources and reward them. While participating successful assorted activities connected the application, users besides get acquainted with Web3 mechanics.

Wild Cash rolls retired an array of activities, specified as:

• Log successful each 24 hours to enactment successful quizzes and vie with different players to gain rewards.
• Mine GOLD tokens by moving animated avatars that show however proof-of-work (PoW) functions connected Bitcoin.
• Answer questions astir cryptocurrency-related topics, specified arsenic decentralized concern (DeFi), GameFi, NFTs, regulations, etc. to triumph GOLD.
• Watch ads to gain GOLD.
• Stake and swap done the Hooked Wallet. 

Embarking connected a worldwide enlargement strategy, Hooked Protocol is moving to enhance its SocialFi model.

Hooked Protocol is looking for maturation successful the market, its assemblage and its ecosystem. The program includes brushing up connected the SocialFi exemplary of the protocol and supporting users to marque amended usage of their societal connections. Combining level enrichment with adjacent much fun-filled content, Hooked Protocol hopes to marque itself adjacent much engaging for the users.

Following a planetary enlargement strategy backed by an enhanced content-learning platform, Hooked Protocol is moving retired bilateral economical partnerships to physique a flywheel-based ecosystem that generates much postulation continually and pushes up assemblage growth.