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Bitvavo makes Hooked Protocol as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
Hooked Protocol is a blockchain project that introduces users to Web3 technologies through an interactive and accessible approach. The goal is to make Web3 accessible to a wide audience by combining education with gamified elements. Hooked Protocol acts as an "on-ramp" layer, helping both beginners and developers easily access the world of Web3.
The project utilizes a "Learn & Earn" model, where users receive rewards while learning about topics such as blockchain technology, cryptocurrencies, and Web3 concepts. The initial application, Wild Cash, already has over 3 million monthly users. Wild Cash offers a Quiz-to-Earn experience that introduces users to Web3 and rewards them simultaneously.
Hooked Protocol stimulates community building by bringing developers and users together. Developers can showcase their products to an engaged audience, while users benefit from a rewarding and educational learning environment. Gamification, social interactions, and educational content are at the heart of this approach, ensuring the platform continually motivates and engages users.
The platform also provides infrastructure for companies looking to integrate Web3 solutions. It supports them with tools such as a user-friendly crypto wallet and a digital identity via the Hooked Soulbound Token (SBT). By utilizing the BNB Chain, Hooked Protocol benefits from an efficient and secure blockchain environment.
Hooked Protocol was founded by an experienced team with three core members:
The team combines technical expertise with a strategic vision to make Web3 simple and accessible for everyone.
Hooked Protocol offers a wide range of features that appeal to both end-users and developers:
Hooked Protocol utilizes the BNB Chain to offer an efficient and secure experience. The project focuses on education with a gamified approach. Through the Hooked Academy, users learn about Web3 through quizzes, videos, and interactive games. Rewards, such as the utility token HGT, are awarded for completing activities. These rewards can be used for purchases within the platform or other functionalities.
Wild Cash is Hooked Protocol's first decentralized application (dApp), merging education with entertainment. The platform offers:
With over 3 million monthly users, Wild Cash plays a key role in Web3 adoption.
Upon registering on Hooked Protocol, users receive a unique digital identity through the Hooked Soulbound Token (SBT), which serves as a Web3 passport and cannot be transferred. The Hooked Wallet offers a straightforward way to store crypto, manage transactions, and access platform functionalities.
The HOOK token forms the heart of the Hooked Protocol ecosystem and has diverse applications. It is used for governance, gas fees, rewards, and gaining access to exclusive features like community events and limited-edition NFTs. With HOOK, users can vote on platform proposals and actively contribute to the development and future of Hooked Protocol.
Alongside its governance role, HOOK functions as a gas token for on-chain transactions within Hooked-dApps. This makes the token essential for economic activities on the platform. Users can also stake HOOK to earn rewards or use it for in-app purchases, further boosting user engagement.
The tokenomics of HOOK are designed for sustainability. With a maximum supply of 500 million tokens, the ecosystem operates under a deflationary model. This limited supply contributes to long-term value development and strengthens confidence in the project.
Hooked Protocol distinguishes itself through its innovative approach to blockchain technology and Web3 education. The following features make the platform unique:
Purchasing Hooked Protocol (HOOK) is available through Bitvavo. The process is suitable for both beginner and experienced traders and can be completed in a few steps:
Safe storage of your HOOK tokens is important, and Bitvavo provides reliable and secure security measures to ensure this. The majority of client funds are stored in cold storage, an offline environment that offers protection against digital threats. For additional security, you can activate two-factor authentication (2FA), which requires you to enter a unique code in addition to your password upon logging in.
Looking to manage your HOOK tokens yourself? Just use an external wallet. Both hardware and software wallets support Hooked Protocol and provide you with full control over your crypto assets. It is important to first verify your wallet address in your Bitvavo account, after which you can safely transfer the tokens.
With an external wallet, you not only increase control over your crypto assets but also gain extra security and privacy. This way, you manage your HOOK tokens your way.
* This is for informational purposes only and is not advice, nor should it be relied upon as such.
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Trading digital assets involves significant risks. Digital assets are highly volatile and you may lose some or all of your investment. The information on this page does not constitute advice, and should not be relied upon as such. Bitvavo is authorized as a crypto-asset service provider under Regulation (EU) 2023/1114 (MiCA) by the Autoriteit Financiële Markten (AFM), Vijzelgracht 50, 1017 HS Amsterdam. More info can be found in our Risk Disclosure.
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