Recently I saw a lot of people talking about the HOOK coin, and I also did some research to find out why so many people are optimistic about it.
The news released by the project owner on Twitter is indeed good.
1. Announced the HOOK 2.0 proposal, which stated that HOOK will be used as a Gas token in the Appchain ecosystem and will be given more ecological applications. Using coins as gas is equivalent to repurchase + destruction, which is conducive to the long-term steady rise of coin prices.
2. Jointly launched a $50 million education ecosystem fund with multiple educational institutions. This shows that the project attaches great importance to education, and the hook itself belongs to the education sector, which can be understood as the project party using the money to do practical things.
3. Announced a partnership with Google Cloud, Hook will revolutionize Web3 education through AI-driven innovation and integrate Google Cloud's cutting-edge artificial intelligence solutions. AI can be regarded as the hottest sector this year, and Hook found that this sector has the potential for long-term development.
4. For Binance's IEO project, the current market value of Hook is still at a relatively low level. In the long run, there is still a lot of room for improvement.
What is HOOK
Hooked Protocol is a community-driven social network with a token economics design, where users can get a gamified experience. Binance officially disclosed that Binance Labs and Sequoia Seed Fund led the seed round of financing for Hooked Protocol, with A&T Capital and others participating.
Hooked Protocol aims to build an entry point for Web3, providing users and businesses with a tailored Learn&Earn product experience and infrastructure to enter the Web3 world. The application is equipped with gamified learning features and has achieved exponential growth through its built-in social recommendation mechanism.
The Hooked protocol adopts a dual-currency model, in which the HOOK token is the governance token in the Hooked protocol that reflects the value of the ecosystem, and HGT (Hooked Gold Token) is the only utility token in the ecosystem, which is used to dynamically incentivize the community's continuous contributions.
HOOK tokens are mainly used for community governance, gas during on-chain economic activities within the protocol, staking incentives, social elements, and longer-term goals. Its governance rights are reflected in the rights and voting in the Hooked ecosystem proposals, and behaviors that are beneficial to the platform will receive initial airdrops. The social element is reflected in the fact that HOOK tokens have the privilege of exclusively purchasing limited edition NFTs (game tools, secret boxes, etc.) within the Hooked protocol and accessing exclusive community activities. The platform promises that the token income obtained from this part will be destroyed.
Additionally, HOOK tokens will be invested in innovative practices that benefit the ecosystem of individual participants and businesses as a whole, ensuring substantial liquidity and token value that grows in direct proportion to the value of the entire community.
Why are you optimistic about the prospects of HOOK?
First of all, HOOK is the governance token of the platform, which can be used for community governance voting. It is also the Gas token of the application. DApps built on the HOOK platform need to use HOOK as the Gas for on-chain transactions. Community members can obtain corresponding rights by obtaining incentive tokens or NFT medals.
Currently, HOOK's first pilot product, WildCash, allows users to complete tasks through gamified learning functions and obtain corresponding rewards. The official has launched the Hooked 2.0 proposal, which uses a new social system to encourage users to learn Web3 and gain benefits.
Secondly, Hooked 2.0 is a system that expands on current educational products and builds the world's largest social learning metaverse system, bringing participants a new social learning experience. In addition, the system gives HOOK tokens more application scenarios, including application support for HOOK tokens, pledges and rewards, etc., which can stabilize and enhance the value of tokens.
Binance is affiliated with HOOK, EDU, Arkm, MAV, and ID. Binance invested in Arkm, EDU, and ID, and only MAV and HOOK are left. Now the market value of HOOK is lower than that of MAV, and it is affiliated with He Yi's best friend.
So I am still optimistic about HOOK. After HOOK was listed on Binance, the token price rose first and then fell, which was mainly caused by the early profit-taking. However, the token price has also been consolidating for about 10 months, and the main force has basically completed the accumulation operation. The trading volume and price have also been gradually expanding in the near future, which means that there may be a wave of pull-ups in the near future. Friends who do not have positions or are currently short can consider buying some of them as a long-term investment. It is a huge pump!
Later, I will bring you analysis of leading projects in other tracks. If you are interested, you can click to follow. I will also organize some cutting-edge consulting and project reviews from time to time. Welcome all like-minded people in the cryptocurrency circle to explore together. If you have any questions, you can comment or send a private message
