This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Hooked Protocol?

Hooked Protocol (HOOK) is a gamified social learning platform that aims to accelerate the adoption of Web3.0 by providing tailored learning resources and comprehensive onboarding support to businesses. It uses a combination of educational products, social referrals, and incentivization models to encourage user engagement and learning, ultimately creating a community-owned ecosystem for decentralized finance (DeFi).

How is Hooked Protocol used?

Hooked Protocol (HOOK) is a Web3 gamified social learning platform designed to facilitate the adoption of Web3 technology by providing tailored Learn & Earn products. It addresses three significant challenges to Web3 adoption: lack of user motivation, high barriers to entry, and inadequate Web3 education. The protocol uses an educational approach with gamified learning experiences and incentivization models to encourage users to start their Web3 journey.

Key Features and Uses
  1. Gamified Learning:

    • Quiz to Earn: Users can engage in quizzes and earn tokens.
    • Proof of Work and Time (PoWT) Mining Game: Users invest time and effort to earn rewards.
    • Staking and Swapping: Users can store, stake, and swap crypto assets using the Hooked Wallet.
  2. Social Referrals:

    • Social Graph Expansion: Users can establish and monetize a new Web3 social graph by sharing invites.
  3. Onboarding Solutions for Businesses:

  • Integrated Infrastructures: Hooked provides seamless Web3 onboarding solutions for businesses, including one-login with Hooked DID infrastructure, built-in wallet solutions, social graphs, and a user growth engine.
Token Uses

Hooked Protocol uses two tokens: Hooked Gold Token (HGT) and HOOK.

  • HOOK Token:
    • Governance: Used for voting decisions in the Hooked ecosystem.
    • Community Event Privileges: Grants access to exclusive events.
    • Exclusive NFT Mints: Used for accessing unique NFTs.
    • Staking Rewards: Rewards users for staking.
    • In-App Purchases: Used as currency for certain in-app purchases.
    • Gas Token: Will be used as a gas token for all economic activities within the Hooked Application Rollup Infrastructure.
Achievements and Future Plans
  • Wild Cash: Hooked Protocol's first DApp, Wild Cash, has over three million monthly active users and serves as a gateway to Web3 resources in emerging markets.
  • Future Plans: The protocol aims to expand its market, community, and ecosystem through content and platform enrichment, socialFi innovation, and bilateral economic partnerships to create a self-sustaining flywheel-based ecosystem.

How do I store Hooked Protocol?

To store Hooked Protocol (HOOK) tokens safely, it is recommended to use "Cold Wallets," which are offline wallets. There are two types of cold wallets:

  1. Paper Wallet: This is a simple, offline wallet where you generate public and private keys using a program and print them on paper. The keys are in the form of QR codes that you can scan for future transactions.

  2. Hardware Cold Wallet: This is a physical device where you can store your cryptocurrency. Your crypto addresses and keys are kept in a USB drive device, and only the person with the USB drive can access the assets. Hardware cold wallets are preferred by most users, especially for storing large numbers of coins or tokens.

How to buy Hooked Protocol?

To buy Hooked Protocol (HOOK) tokens, follow these steps:

  1. Choose a Centralized Exchange (CEX):

    • Select a reliable and trustworthy crypto exchange that supports Hooked Protocol (HOOK) purchases, such as Binance or KuCoin.
  2. Create an Account:

    • Enter the required information and set a secure password. Enable 2-factor authentication (2FA) for added security.
  3. Verify Your Identity:

  • Complete Know-Your-Customer (KYC) verification, which may require providing personal information and identification documents.
  1. Add a Payment Method:

    • Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment methods.
  2. Buy Hooked Protocol (HOOK):

    • Navigate to the exchange's "Buy Crypto" section and select Hooked Protocol (HOOK) and your preferred fiat currency (e.g., USD).
    • You can buy HOOK directly with fiat currency if supported or first purchase a popular cryptocurrency like USDT and then exchange it for HOOK.
  3. Store Your HOOK:

  • You can store your HOOK tokens in the exchange's wallet or transfer them to a personal crypto wallet for added security.

Remember to carefully consider the fees and risks associated with buying and holding cryptocurrencies.

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How Hooked Protocol works

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