Hooked Protocol is one of the hottest projects recently. Since its IEO on Binance Launchpad on December 1st, it has attracted widespread attention. Let’s take a look at whether it is worth investing in. Hooked Protocol is a Web3 social network built on BNB Chain. Its goal is to create a community-driven ecosystem that provides learning products and onboarding infrastructure to enable more people to join Web3. $HOOK is the governance token of the platform, while $HGT is a token used only within the ecosystem The utility token Wild Cash is the first product launched by Hooked and will be launched in the third quarter of 2022. It enables users to learn Crypto-related knowledge and earn corresponding rewards through simple operations, such as Quiz-to-Earn, PoWT (Proof of Work and Time) mining games, etc., with a positive outlook, ranking 15th among game projects. Ecological Development Hooked Protocol is characterized by a simple interface, easy operation, gamified learning experience, and user-friendly. As a result, it attracted a large number of users in a very short period of time. According to DappRadar statistics, in the past 24 hours, the Hooked Protocol UAW (the number of independent active wallets interacting with the DApp’s smart contracts) reached 406,000 (in the past 7 days The average number is 389,000). The current TVL of Hooked Protocol is approximately $113,000. Roadmap and Progress The project has disclosed its roadmap from launch to 2023. The development plan for 2023 is relatively vague, with no specific implementation details. As of December 2, Hooked has completed its seed round and IEO and launched its first app - Wild Cash. In the next six months, it will focus on product upgrades, cooperation, and wallet integration of underlying technology and security in the first half of 2023. Hooked Protocol plans to build a Rollup execution layer as the scalability infrastructure of the ecosystem, while integrating assets and data and ecosystem merging. The extension has not been officially launched yet, but according to the disclosed roadmap, it should be released in Q4 2022. In addition to Rollup, Hooked also plans to integrate built-in infrastructure such as DID solutions, built-in wallets, and graphical interfaces, which will Still under development and scheduled to launch next year.The project is still in its early stages. It is worth noting that the project has not made its code public yet, and no code audit report has been released. Therefore, the safety of Hooked cannot be evaluated yet. Token economy Hooked has launched two native tokens. One is the governance token $HOOK , which can also be used to pay for Hooked Rollup’s gas fees and unlock other additional services. Functions that support the use of $HOOK have not yet been developed. The total supply of HOOK is 500 million, of which 40% is allocated to private equity investors and teams, which is relatively concentrated. These tokens will begin to be unlocked on July 24, 2023, and will not be fully unlocked until October 2029 for the 20% of $HOOK allocated to private placement round investors. Hooked Protocol announced two private placement rounds earlier this year, raising approximately $6 million, with FDV ranging from $30 million to $60 million. Major investors include Binance and Sequoia Capital. The second type of token is $HGT, which can be obtained by completing in-app tasks and has no supply limit. The token is non-negotiable until converted into uHGT (unlocked Hooked Gold Token). The unlocking mechanism is determined by Bonding Curve and community proposals. The demand and value of $HGT may depend on the number of users in the ecosystem, the token burning mechanism, and the speed of unlocking. But there is no more detailed information yet. Secondary market performance HOOK can already be traded in 10 centers and Pancakeswap, and the main trading platform is Binance. HOOK’s 24-hour trading volume is approximately $730 million. As for the on-chain data, there are currently only 4 currency holding addresses and a total of 14 on-chain transactions, which means that the token is mainly traded on centralized exchanges. Hooked, written last, has attracted a large number of users in a short period of time due to its innovative learning concepts and easy-to-use products. It also has the potential to integrate with other projects such as DeFi and NFTs. However, it leaves a lot of room for improvement in some areas. First, the project is still in its early stages and some major infrastructure has yet to be developed. Second, features important for using HOOK are not yet available. Moreover, the token is mainly traded in centralized exchanges, and there is a lack of on-chain activity.Additionally, the project has yet to disclose its codebase, audit results, and detailed development plans, which would affect the assessment of the project. Invest in the currency circle, pay attention to Brother Yu, and share with Yue Xianhuo Daily Power Ma for free. No threshold circle #BTC #sats #rats