Source: news.google.com
The world’s largest cryptocurrency exchange by volume is listing a new altcoin in its Innovation Zone that allows users to trade newer token offerings.
According to a recent announcement from the company, Binance Launchpad, a branch of Binance where crypto projects can raise funds, recently hosted a token sale for the Hooked Protocol (HOOK) through a subscription format.
In Binance’s subscription format, potential participants get their participation limits set by their average Binance Coin (BNB) balance over a set period of days. They can then choose to lock up any amount of BNB up to that limit in order to receive the new tokens being offered on the launchpad.
The Hooked Protocol bills itself as “the onramp for mass adoption of Web3 to form the ecosystem of future community ownership economies.”
Explains the Hooked Protocol whitepaper,
“With our Wild Cash pilot product offering Quiz-to-Earn and other gamified learning experiences, having attracted over 2 million community members, Hooked aims to form an engaging ecosystem of community economies by facilitating and optimizing the onboarding flows for all Web3 pioneers.”
The HOOK subscription format ended on Thursday and the exchange started trading services for the altcoin on the same day.
On its first day of trading, HOOK reached a high of $2.79 and a low of $2.04, according to CoinGecko. The new altcoin is trading at $2.36 at the time of writing.
The Binance Innovation Zone is a trading space dedicated to crypto assets that might be more prone to rapid price changes.
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