Hooked Protocol
Crypto Overview
Purpose and Utility
Hooked Protocol aims to create a Learn-and-Earn social platform that rewards users for learning Web3 concepts and participating in educational activities. The HOOK token serves as the governance and utility token within the ecosystem, used for rewards distribution and platform governance.
Business Model Analysis
The protocol's core business model revolves around educational content delivery and user engagement through their Learn-and-Earn model. Users can earn HOOK tokens by completing educational tasks, quizzes, and participating in community activities. This model aligns with halal principles as it involves genuine value exchange through education and community building.
Real-World Adoption
The platform has gained significant traction, particularly in emerging markets. Their flagship product, Wild Cash, has attracted millions of users, demonstrating real utility and adoption. The protocol has established partnerships with various Web3 projects for educational content creation.
Platform Development
The development team maintains active GitHub repositories and regularly updates the platform. The project has a clear roadmap focusing on expanding educational content, improving user experience, and developing new features for community engagement.
Token Distribution and Governance
The token distribution includes allocations for community rewards (40%), team and advisors (15%), ecosystem development (20%), and strategic partners (25%). Team tokens are subject to a vesting schedule, showing commitment to long-term development.
Islamic Finance Considerations
The core activities of education and community building are halal. The platform does not involve interest-bearing mechanisms, gambling, or prohibited industries. The Learn-and-Earn model represents a legitimate exchange of value between users and the platform.
Crypto Impact
To assign a comfort level investing in Hooked Protocol from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Hooked Protocol.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.