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Usha Yadav
Sep 9, 2022
by Usha Yadav

Binance Labs Co-leads the Seed Round for Hooked Protocol

Binance Labs

Table of contents

  1. Hooked Protocol Debuts on BNB Chain
  2. Web2 Users Entering Web3 Ecosystem
The venture capital and accelerator division of Binance, Binance Labs, and Sequoia Seed Fund jointly led the seed round for Hooked Protocol. A community-driven social network with an on-chain tokenomics architecture is under development by Hooked Protocol. Users may learn, earn, and take advantage of a gamified experience within the Hooked environment.

Hooked Protocol Debuts on BNB Chain

The Hooked Protocol will debut on the BNB Chain first, then move onto Layer 1 networks. Identification, engagement, and attribution are the three main pillars defining the Hooked Protocol's applicability. Users may instantly access their Web3 identities thanks to the team's integration of wallets and decentralized identifiers (DIDs) into the Hooked ecosystem.

"Hooked Protocol is building a connection network to empower Web3 social engagement and a growth funnel for Web3 applications."

To assist builders in automating their community interactions, it generates "engagement legos" around user acquisition and retention. Developers of decentralized apps (dApps) can build programs on top of these "engagement" components using a plug-and-play methodology. Key user behaviors will also be linked to a particular on-chain identity, enabling ecosystem participants to optimize resource distribution and community throughput.

Web2 Users Entering Web3 Ecosystem

The goal of Hooked Protocol is to make it easy for Web2 users to enter the Web3 ecosystem and to create the growing infrastructure that dApps can use. Even though each of these applications is independent, they will make a robust network supporting open innovation and community-owned economies. The capital round will aid Hooked Protocol in advancing early-stage recruiting, R&D, and other initiatives.

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Binance Labs Hooked Protocol
Binance Labs Co-leads the Seed Round for Hooked Protocol
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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