Binance Announced: What is Hooked Protocol (HOOK)?

Binance is on Launchpad's 29th anniversary on November 23.

Binance Announced: What is Hooked Protocol (HOOK)?
Binance Announced: What is Hooked Protocol (HOOK)?

Binance announced Hooked Protocol, which will be Launchpad's 29th project on November 23. The token launch, which will take place on Launchpad, will be followed by the stock market listing. Accordingly, HOOK coin will soon take its place among the altcoins listed on Binance. In this article, we will examine this relatively new project. In addition, we will answer questions such as what is the Hooked Protocol and what is the use of HOOK that investors wonder. Now let's move on to the project.

What is Hooked Protocol?

Hooked Protocol is a Blockchain project that aims to fully adopt Web3 by creating an advanced ecosystem. This project basically works as a ramp layer protocol. There are currently more than 3 million active members in the protocol's community and they are considering creating a custom experience for users and businesses that want to take advantage of Web3. The team and community are working to engage Web2 users in Web3 and create an ecosystem that is both vibrant and cohesive.

The protocol aims to revolutionize the Web3 world and growth tunnel with its inventions and developments. The team wants to reach people who have no previous experience in this field. For this, he tries to make the most of the cryptocurrency industry. They also make the Web experience easier for developers and users alike. It's not just about improving scalability. It also includes building an inclusive community.

What are the services Hooked Protocol offers?

Hooked Protocol promises to serve Blockchain users with a wide variety of products. Highlights of the project include:

  • Gateway for Web3 onboarding: Hooked Protocol is an extremely fast-developing platform that is trying to get more and more people involved in Web3. They create incentive and game-based experiences to build and grow a strong community.
  • Innovative Dapp integrations: Protocol has launched the first Dapp based on Quiz-to-Earn mechanics. According to this Dapp, users had the advantage of receiving cryptocurrency rewards through quiz-like ways.
  • Other products: In addition to the aforementioned features, Hooked has released a Proof-of-Work Time (PoWT) based mining game. The ecosystem also has other products and services such as Social Referral, Stake & Swap, and Curious Learning.

What is HOOK coin? What does it do?

HOOK coin is the native cryptocurrency of the Hooked Protocol ecosystem. This coin serves as the protocol's governance token and uses the BNB Chain. With a total supply limited to 500 million units, HOOK coin will be available for sale on Binance Launchpad. In this sale, 5% of the supply, or 25 million tokens, will be distributed to the community. Users will gain a number of benefits including managing the ecosystem through HOOK. These include access to exclusive NFTs and community privileges, in-app purchases, and rewards associated with staking/mining.

Binance announces Hooked Protocol As we reported , Binance has chosen Hooked Protocol as the 29th project of Binance Launchpad. Announcing the details of the HOOK token sale, the exchange determined a $2.5 million Launchpad Hard Cap and a $15,000 Per User Hard Cap. Binance also announced that 25 million of its total HOOK token supply has been allocated to Launchpad. This amount represents 5% of the stated total token supply. According to Binance, the public token price of 1 HOOK is equivalent to 0.1 USD. However, the platform seems to determine the price equivalent in BNB before subscription.