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Hooked Protocol has risen to the top of the dApps popularity charts. Now the Web3 onboarding platform reveals plans to take over the world! (in a good way)
$HOOK Volatility adds to community concerns
Web3 onboarding upstart – Hooked Protocol – has published its plans for 2023, while the development team has locked its HOOK tokens to prove its long-term commitment to the community.
The Hooked team published a Twitter thread addressing concerns that had been raised over the price volatility of $HOOK over the past few days. After some expected price swings after its launch on December 1st, the BNB Chain token’s value held steady at around $2.35 until December 10th, when it reached a high of $3.08 before hitting a low of $1.69 on December 13th .
To the Hooked Protocol Community:
We are aware that the transfer of the team’s HOOK token allocation to Binance Custody and recent price volatility on HOOK from last weekend has created some discussion in the community. So post this thread to give more context here:
— HOOKED (@HookedProtocol) 12 December 2022
The team denied responsibility for the price volatility, attributing it to the nature of cryptocurrencies. Furthermore, they said the Hooked team had locked their tokens under Binance Custody for a period of one year, followed by a five-year release schedule.
“We want to demonstrate 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, propelling the project straight to the top of popularity rankings for Decentralized Applications (Dapps).
According to DappRadar, Hooked is the second most popular Dapp on any blockchain, with 1.35 million Unique Active Wallets (UAWs) in the last 30 days, only behind Pancake Swaps 1.67 million UAWs.
And over the next year, the Hooked team wants to leverage its initial success to achieve much bigger ambitions, according to the 2023 roadmap published on Medium.
We launched our 2023 roadmap: We will share detailed progress along the way to further increase the transparency of our community.
— HOOKED (@HookedProtocol) 12 December 2022
“Our mission remains the same – we want to be the driving force for massive Web3 adoption. Our focus for the year 2023 is to iterate on the fundamentals that have led to our milestone successes, and to better serve the entire Web3 community,” according to Hooked Protocol- the post.
Plans for the next year include global market expansion, from the original base in Nigeria to Southeast Asia, Latin America, the Middle East and Africa.
The team aims to improve and expand Hooked’s content offering and gamified platform.
A Hooked SocialFi system is also in development, with plans to create one Decentralized Autonomous Organization (DAO).
The team wants to build out “a self-sustaining flywheel-based ecosystem” with “massive Web3 user and business adoption”, coupled with a Web3 marketplace.
What is Hooked Protocol:
Hooked Protocol is a community-driven social protocol with an on-chain tokenomics design. Users can learn, earn and enjoy a gamified experience in the Hooked ecosystem. The applicability of the Hooked Protocol is defined by three key pillars: identification, engagement and attribution. The project integrates wallets and decentralized identifiers (DIDs) into the Hooked ecosystem, allowing users to access their Web3 identities automatically.
Where to find Hooked Protocol:
Website | Twitter | Telegram
What is BNB chain:
Formerly known as Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized and censorship-resistant blockchain powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitates a multi-chain ecosystem. Through the MetaFI concept, BNB Chain aims to build the infrastructure to run the world’s parallel virtual ecosystem.
Find more about BNB Chain here:
Website | Twitter | Discord | Telegram | GitHub |
