Yesterday Binance announced a new project on Binance Launchpad. We have prepared a full review of this project and answered the question “Is it worth buying BNB to participate in Binance Launchpad“
About the Hooked Protocol
Positioning from shit and sticks. Hooked Protocol is going to introduce people to Web 3.0. How? Through gamification, of course. Also they want to help the developers to attract users to their Defi projects. This is Web 3.0 marketing.
It becomes clear why we see Binance and Sequoia as investors. Their investments became known in September of this year
First of all, no one at Defi knows how to do normal marketing yet. If they do, it's a new market.
Second, the Team at Hooked Protocol rocked their subsidiary wildcash.xyzto the top 1 Indonesian play market. Do they know marketing??
Wild Cash is a pyramid scheme with a luscious cover. Where Stepn, everything is nicely tied to sneakers and Genopets to land, at Wild Cash you answer questions and get tokens. You call a referral, you get tokens. Here's the top 1 of the Indonesian Play Market.
Two investors, Two tokens sir
Hooked Protocol will have two tokens: HOOK and HGT
HOOK is a token for managing the Hooked Protocol ecosystem. For example, it will be used for voting to develop the project, and holders will be able to participate in events.
The HGT token will serve as a reward for interaction with the Hooked ecosystem. For example, for playing games or completing quizzes.
If there is a token, then there is tokenomics
The tokenomics of Hooked Protocol are known:
5% on public seals. 20% for private sale (Binance + Sequoia) 20% to the team + marketing 30% for ecosystem running 25% for community, e.g. rewards
My opinion
**Do I participate in the launchpad or not? Yes, If you hold BNB. If not, I would consider it. There are still risks from buying BNB. It gets dumped before the start of trading.
I don't believe in the project long term. The market, the Whitepaper written in my lap and the two month old tweet are kind of hinting.
Also published here.