Resisting the Winter with FOMO: Data Interpretation of Hooked Protocol

Author: Web3Go

It has been 9 months since the last Binance IEO, and the bear market clearly cannot extinguish people's longing for the wealth creation myth of Binance IEOs.

The Hooked Protocol, supported by Sequoia and Binance Labs, has given this winter a new meaning with its long-awaited IEO. There are countless analyses of Hooked Protocol products on the market, and this article will not reiterate them but will focus on the data to restore the truth.

On December 1st at 22:30 Beijing time, the governance token HOOK of Hooked Protocol was launched on Binance, with an IEO price of 0.1 U, which broke through 2 U in just 1 second, yielding a 20-fold return in 1 second, and a trading volume exceeding 100 million within an hour. Binance did not disappoint everyone’s expectations.

The on-chain frenzy is even more exciting. Between November 25-27, even before Hook was launched on Binance, scientists had already discovered the official vulnerability and directly interacted with the uHGT contract through the PancakeSwap pro model, making quick profits. The total on-chain trading volume of uHGT exceeded 171 billion, with a trading volume close to 1.25 million U.

From the on-chain data captured by Web3Go, the address with the highest profit, 0x05cfa0bdf3c98d3fefa6b612bfb66ea8fa892362, earned a profit of 23,904 U from this frenzy, and it still holds 1 billion uHGT.

On-chain data captured by Web3Go However, this frenzy did not last long. The influx of scientists also caught the official's attention, and Hooked quickly took countermeasures and swiftly closed the loophole.

Hooked quickly took countermeasures From the on-chain data, the closure had an immediate effect: on-chain transactions shrank to 1/10. However, after the 28th, there was still a slight upward trend, indicating that under strict measures, speculative users' expectations for uHGT are still growing. On-chain transactions shrank to 1/10 after the closure In addition to the contract loophole, the largest scale of profit-seeking behavior actually occurred within the application itself. Since Binance officially announced the HOOK IEO on the 23rd, WildCash has already attracted the attention of scientists.

Binance officially announced HOOK IEO on the 23rd According to the data captured by Web3Go, after Binance's announcement, the mint data of Pickaxe, the most important earning tool under the Hooked Protocol, skyrocketed. The peak on the 30th was nearly 16 times the data before the announcement, and even on December 1st, the day Hook was launched, there were still nearly 96,000 mints, indicating that scientists' expectations for Hooked Protocol are far from over.

Mint data of Pickaxe skyrocketed Currently, the noise in the market comes entirely from scientists and speculators, but what about the users? From the Token Mint data and user numbers, the actual user data may not be as impressive as it seems.

On November 25-26, the mint data for uHGT tokens reached a peak of 15.9 billion and 31.3 billion, respectively, but the actual number of users participating in the mint was only over 1,200, less than 1/10 of the peak in mid-October. Including the data from October 14, it is not difficult to find that the very few mint addresses and high outputs all indicate a gathering of profit-seekers.

Mint data for uHGT tokens peaked on November 25-26 So what kind of story is Hooked telling? We can go back to early October. On October 17, Hooked announced that it had brought 50,000 daily active users to the BNB Chain.

The actual on-chain data shows 70,000 daily active users, which is actually better than the official announcement, and starting from October 13, its user growth has shown rapid growth. User growth showed rapid growth starting from October 13 Looking back at traditional internet channels, mainstream channels like TikTok and Facebook in Southeast Asia also show a trend of traffic explosion, which aligns with the official on-chain data. Considering the advertising costs, this data can be considered as real daily active users. This also means that Wild Cash did indeed attract a large number of web2 users' attention through effective operational means, successfully creating a "hit product."

The success of Wild Cash

A week later, on October 24, Hooked orderly released product-related information, which was also the first time Wild Cash appeared on the official Twitter account.

Wild Cash appeared for the first time on the official Twitter account Observing the impact of this news from on-chain data, the number of new market users also saw a significant increase, with user growth rising for two consecutive days, peaking on the 26th, nearly 50% higher than the same period. Considering the situation of scientist users and bulk account creation, this data may contain some inaccuracies, but it can be confirmed that from this point on, Hooked began to truly attract the attention of core Crypto users.

Hooked began to truly attract the attention of core Crypto users Time moved to November 10, after nearly half a month of calm, the user growth rate slowed significantly, so a new round of marketing was the most reasonable choice at that time. Thus, on that day, BNB Station shared data showing Hooked's 24h daily active users at 127.54K, almost catching up with the daily active data of Pancakeswap, the only leader on the BNB Chain.

Hooked 24h daily active users data at 127.54K According to the flow data captured by Web3Go, this number is actually higher than expected, with the actual number of addresses reaching 155,000.

The actual number of addresses reached 155,000 At the same time, comparing the number of new users that day with the mint quantity of Pickaxe shows a high correlation between the two data points, and the overall project data is also very stable. Hooked is confident in its data and has not used exaggerated or inflated methods for "staged" marketing.

Hooked's data is authentic Then we return to the story at the beginning of the article, Binance announced the Hook IEO, reigniting a new round of excitement, with daily active users approaching 500,000.

After the official announcement of the IEO, Hooked's daily active users approached 500,000 Overall, the first product of Hooked Protocol, Wild Cash, cannot be said to be perfect in terms of completion, but it is still usable. At the same time, the official has very strict output restrictions, requiring users to invest more time and effort to participate, which makes the user growth data in Southeast Asia more valuable.

Moreover, after the uHGT vulnerability appeared, the official also took timely measures to stabilize user confidence, as cases of projects dying early due to "profit-seeking" are not uncommon.

However, from the perspective of ecological structure, the entire product economy is still very singular and content-deficient. In addition, the entire product output highly relies on incentives to attract new users, and with a large influx of users, it is difficult for applications like simple quizzes that do not cater to real user demands to achieve retention. Whether Hooked's next steps can enrich the ecosystem will be a key factor in the product's next phase of development.

The one-stop data platform Web3Go will continue to monitor and track, bringing more effective on-chain data to the market.