Social decentralized applications (Dapps)are becoming increasingly popular amongst Web 3 enthusiasts. That’s because social Dapps are trustless, secure, and resistant to censorship compared to traditional social media platforms. These features have attracted the interest of many projects, of which Hooked is a prominent player.
In the first quarter of 2023, Hooked emerged as the most active social decentralized application (Dapp) platform. According to a BitcoinCasinos.com data presentation, the BNB-based protocol achieved the feat by accumulating over 120,000 daily unique active wallets (dUAW). This is a remarkable milestone for the Dapp, signifying its success in the ever-growing and competitive social dapps space.
What’s Behind Hooked Protocol’s Impressive Growth?
BitcoinCasinos’ investments expert Edith Reads has shared her thoughts on the report. According to her, Hooked has experienced rapid growth since launching in late 2022 due to its innovative features and straightforward user experience. She insists its progressive applicability supports the easy onboarding of crypto lovers to the Web3 economy regardless of their experience in this space.
“Besides providing easy access to top-tier DeFi products & services, Hooked’s usability and accessibility are helping propel it into mainstream adoption. It offers investors gamified Learn and Earn products on a single interface, enabling easy onboarding of new entrants into the Web3 space. Some of these may not be tech-savvy enough or knowledgeable about blockchain technology yet.”
Hooked’s Wild Cash Dapp
Central to the protocol’s impressive performance is its Wild Cash Dapp. The app attracts over 3 million active users and is the doorway to decentralized web resources. It supports user adoption by gamifying their experiences through such aspects as Quiz to Earn ad a PoWT mining game. Others are social referrals, token staking, and swapping using its Hooked Wallet.
Aside from its investment portfolio, Hooked stands out for its other features, such as decentralized identities (DIDs), a user growth engine, and social graphs. This way, it aims to serve as a one-stop shop for businesses onboarding the Web 3 ecosystem. Its integrated infrastructures will offer enterprises a collection of apps for their pain points.
Following Hooked, a distant second place was Galxe with 39,953 dUAW. The Social Dapp intends to build a decentralized data certification network. And following in the third spot was the CyberConnect Protocol with over 30,000 dUAW. This decentralized social graph platform supports users in creating their profiles on the BNB Chain that are critical in anchoring their DIDs.
Wrapping up the top five positions were the Lens and Phi Protocols. The former, which provides decentralized communities a medium for meaning their governance structures, attracted 3,146 dUAW. Meanwhile, the latter, an ENS-based social platform, recorded 2,405 dUAW.
