Binance Launchpad has launched a sale of the new Hooked Protocol (HOOK) cryptocurrency.
The introductory price was about $0.1, however Almost straight It jumped above $2.8.
In other words, record a +2700% almost instantly.
It is very likely, however, that the launch price was greatly underestimated, because it then fell to $2 for the rest of the day, only to start growing again overnight.
The maximum peak was reached this morning at over $2.9.
New Cryptography on Binance: Hooked Protocol (HOOK)
Hooked Protocol is a popular Web3 social learning platform under construction.
HOOK is its token, which is the BEP-20 token on the BNB Chain.
However, the platform also has another token, the Hooked Gold Token (HGT), which is only available within the ecosystem.
Hooked Protocol is currently focused on building an on-ramp layer for Web3 mass adoption, providing Learn & Earn products and built-in infrastructures that enable users and businesses to enter this new world.
for him The experimental product is Wild CashFor example, a contest for earning with simulated learning functions has already been realized Over 2 million monthly active users in Indonesia and Brazil.
HOOK is the governance token for the entire ecosystem, while HGT is the utility token.
HOOK is used as an access token to community events and for NFTs Exclusive, and also used for certain in-app purchases of game items, secret chests, etc.
over time It will be partially burned to reduce the overall widthand in the future it will be used as gas for application bundling infrastructure, and for reward programs for installation on the platform.
The total supply will be 500,000,000 tokens Only 10% (50,000,000) saved at launch.
The project
Hooked Protocol has already raised about $6 million earlier this year through two rounds of private token sales, with 20% of the tokens allocated.
So he’s already designing product experiences to grow the community through extensive Web3 adoption and training.
At the same time, the combined infrastructure of companies migrating to Web3, with the task of forming an attractive ecosystem, is combined Community-owned future economies.
He wants to create a true community portal to Web3, with multiple incentives, accessible wallets, and a decentralized identity.
All of this is based on the Simplified Learning Experience, a simplified learning system combined with immersive and curious learning. In this way it will be possible to learn the basic concepts of Web 3 through playing.
Moreover, it is also working on Web3 simulation experiences, to allow users to participate in key sectors of cryptocurrency, such as NFT and GameFi.
Wild Cash
Wild Cash is Hooked’s first beta product, launched in Indonesia and Brazil and is currently with over 2 million monthly active users.
It is a Quiz-to-Earn dApp that dominates its sector on Google Play in Indonesia, thanks to innovative mechanisms of earning by answering questions.
This is exactly the beloved learning experience of Hooked, which also thanks to its Academy will continue to implement educational initiatives to push for widespread user adoption.
With Wild Cash, users can start an immersive web 3 learning experience while earning token rewards. Also, they can get great financial benefits especially by sharing the game thanks to their social connections.
Once they collect tokens in this way, they can later stake and trade them.
Binance Launchpad: Hooked Protocol (HOOK) Roadmap
The goals achieved so far are fundraising through private selling, launching a dApp in Indonesia and Brazil, and achieving 2 million monthly active users.
On the other hand, the next steps envisage initiatives until the end of 2023.
In Q4 2022, Quiz-to-Ear will launch in more countries, and they will work with Tier 1 infrastructure on scalability solutions to facilitate strong user growth in the future.
However, in the first six months of next year, they will work on a more diversified learning experience, seek collaboration and partnerships with other Web3 projects to bring new applications to the Hooked protocol, and launch the wallet for community users.
In the second half of 2023, they want to become one of the leading Web3 communities, establish DAO as a governance structure, launch various applications, and develop application middleware solutions for ecosystem developers.
Partnership with Binance
Not only did Binance launch the HOOK token with its Launchpad, the partnership between Hooked Protocol and BNB Chain turned out to be a long-term and enduring commitment.
The goal is Encourage the Hooked community to explore other applications found in the BNB Chain ecosystem.
In fact, Binance has launched a The official subscription program Which allowed a week for BNB holders to participate before the market launch. At the time of the HOOK token being launched on the market, subscribers received it in proportion to their locked BNB, directly to their Binance wallet.
This is not the first time that Binance has been actively involved in launching a token, and indeed over the years several tokens have been launched on Launchpad.
Launchpad is precisely the section of Binance where new tokens are launched, before they are listed on the exchange.
Considering that often after launch, the market value turns out to be higher than the pre-sale value, Launchpad is highly appreciated by many users. On the other hand, even in the case of HOOK, users who took it in pre-sale and sold it at the time of listing will get a lot.
However, it must be added that over time, many tokens launched in this way have lost their value.
For example in March GMT was launched (Stepen), which rose from $0.13 to $3.8 in just a few weeks. But then comes the price collapsed by 90% From the extreme peak, it has dropped to less than $0.4, but it is still above the launch price.
Even worse is SFP (SafePal), which launched in February last year at around $1.3 and then fell below $0.5 after hitting a high of $4.2 a few days after its launch.
One of the first launches was the launch of the Gifto, which took place even on December 2017 About $0.3.
The current price is down just above $0.01 after reaching $0.96 a few weeks after its launch. From that peak level it is now losing more than 98%, and showing no signs of recovery.
One of the things that seemed most important was the launch of FET (Fetch.ai). In February of 2019.
In this case, the price started to fall immediately, starting the next month, and then rallied during the last big bull run in the past year, when it reached an all-time high of $1.1.
The current price of $0.06 is 94% below last year’s high, and well below $0.3 at launch.