Hooked Protocol

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.