Hooked Protocol has risen to the top of the dApp popularity charts. Now the Web3 onboarding platform reveals plans to take on the world! (in the right sense)
$HOOK volatility raises community concerns
Web3 onboarding newbie – Hooked Protocol – has revealed its plans for 2023, while the development team has frozen its HOOK tokens to prove its long-term commitment to the community.
The Hooked team posted a Twitter thread addressing concerns raised over the past few days about $HOOK’s price volatility. After some expected price volatility after its launch on December 1st, the value of the BNB chain token held steady at around $2.35 until December 10th when it surged to a high of $3.08 before collapsing on December 13th. reached a low of $1.69 in December.
To the Hooked Protocol community:
We are aware that the team’s transfer of the HOOK token to Binance Custody and HOOK’s recent price volatility as of last weekend has sparked some discussion in the community. So write this thread to provide more context here:
— HOOKED (@HookedProtocol) December 12, 2022
The team denied responsibility for the price volatility, attributing it to the nature of cryptocurrencies. Additionally, they said that the Hooked team locked its tokens under Binance Custody for a period of one year, followed by a five-year release schedule.
“We want to show our long-term commitment to the Hooked Protocol as part of this process,” the team said.
Hooked’s easy onboarding process has attracted hordes of users and propelled the project to the top of the decentralized application (dapps) popularity rankings.
According to DappRadar, Hooked is the second most popular DApp on any blockchain with 1.35 million unique active wallets (UAWs) over the past 30 days, behind only Pancake Swap’s 1.67 million UAWs.
And over the next year, the Hooked team intends to use their initial success to achieve much bigger ambitions, according to their 2023 roadmap published on Medium.
We have published our roadmap for 2023: https://t.co/VM4nHLv3Xz. We will share detailed progress on this to further increase transparency for our community.
— HOOKED (@HookedProtocol) December 12, 2022 “Our mission remains the same – we want to be the on-ramp layer for massive Web3 adoption. Our focus for 2023 is to reiterate the fundamentals that led to our milestone achievements and to better serve the entire Web3 community,” the Hooked Protocol post reads.
Plans for the next year include global market expansion from its original base in Nigeria to Southeast Asia, Latin America, the Middle East and Africa.
Source: Hooked
The team’s goal is to improve and expand Hooked’s content offering and gamified platform.
Source: Hooked
A hooked SocialFi system is also in development, with plans to create a decentralized autonomous organization (DAO).
Source: Hooked
The team aims to build “a self-sustaining, flywheel-based ecosystem” with “massive Web3 user and business adoption” connected through a Web3 marketplace.
Source: Hooked
What is the hooked protocol:
Hooked Protocol is a community-driven social protocol with an on-chain tokenomics design. Users can learn, earn, and enjoy a gaming experience in the Hooked ecosystem. The applicability of the Hooked Protocol is defined by three main pillars: Identification, Engagement, and Attribution. The project integrates wallets and decentralized identifiers (DIDs) into the Hooked ecosystem, allowing users to automatically access their Web3 identities.
Where can I find the hooked log:
Website | Twitter | telegram
What is the BNB chain:
BNB Chain, formerly known as Binance Smart Chain (BSC), is a community-driven, decentralized, and censorship-resistant blockchain powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, which are EVM compatible and enable a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to operate the world’s parallel virtual ecosystem.
You can find out more about the BNB chain here:
Website | Twitter | discord | Telegram | GitHub |
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