Binance is announcing the 29th project on Binance Launchpad - Hooked Protocol (HOOK). The token sale for Hooked Protocol will follow the Launchpad subscription format, with the recording of user BNB balances starting at 2022-11-24 00:00 (UTC).
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Binance will record user BNB balances for seven days from 2022-11-24 00:00 (UTC) to 2022-12-01 00:00 (UTC). The final BNB holding amount for each user will be determined as the average of the seven days, using the Daily Average BNB Balance calculation previously announced here.
HOOK Token Sale Details:
Token Name: Hooked Protocol (HOOK)
Launchpad Hard Cap: 2,500,000 USD
Hard Cap Per User: 15,000 USD (150,000 HOOK)
Total Token Supply: 500,000,000 HOOK
Total Tokens Allocated to Binance Launchpad: 25,000,000 HOOK (5% of Total Token Supply)
Public Sale Token Price: 1 HOOK = 0.1 USD (price in BNB will be determined prior to subscription)
Token Sale Format: Subscription
Supported Sessions: BNB only
Subscription Timeline:
Preparation Period 2022-11-24 00:00 (UTC) to 2022-12-01 00:00 (UTC): During this period, user BNB balances will be calculated in hourly snapshots for each day over a seven-day period. Your final average daily BNB balance over these seven days will determine the maximum amount of BNB that you can commit later on.
Subscription Period 2022-12-01 06:00 (UTC) to 2022-12-01 09:00 (UTC): Subscription will open at this time for all eligible users for a three-hour period. Users must also sign the Token Purchase Agreement at the same time, prior to committing their BNB. Please note that once committed, your BNB will be locked and you will not be able to redeem or access any other functions such as transfers, withdrawals or trading until final token distribution.
Calculation Period 2022-12-01 09:00 (UTC) to 2022-12-01 10:00 (UTC): Subscription closes and token allocation calculation begins.
Final Token Distribution 2022-12-01 10:00 (UTC): Your final token allocation will be calculated and the corresponding BNB will be deducted from your already-locked BNB amount. Once deducted, your HOOK and BNB tokens will both be transferred to your spot wallet.
To learn more about Hooked Protocol (HOOK), read Binance Research's in-depth report here.
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