Hook’s Treasure Hunt: Season 1

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The Treasure Hunt is Hook's incentive program. Start your hunt and claim your first chest by heading to Hook and clicking ‘Get Started’. The majority of treasure chests will be distributed for using the protocol, so the sooner you start your hunt, the more rewards you can earn.

Hook’s Treasure hunt will occur over multiple seasons. Season 1 starts on June 28. Seasons are divided into 2-week cycles, where you can discover chests and increase their rarity. Treasure chests can be revealed after the end of each cycle.

How to earn Treasure Chests

Each cycle, you can earn up to 2 treasure chests per NFT collection. One chest can be earned for trading and one can be earned for earning.

  1. Trade
    1. Includes vBids and all types of options offers.
    2. Note: buying an option does not earn points.
  2. Earn
    1. Includes minting an option and selling it or just listing an option. If you do not hold NFTs in Hook-supported collections, you can list options that you purchase to qualify for Earn Chests.

For example, if you only make offers on Milady options, you'll earn 1 chest in the cycle. If you make option offers and write options, you'll earn 2 chests.

Hook will adjust each cycle's chest distribution as necessary to ensure balanced options markets.

Treasure Chest Scoring

There are four different types of chests you can discover while using the protocol. Rarer chests are substantially more valuable than common ones.

How to Maximize Your Rewards

You can increase your probability of finding rarer chests by increasing a chest’s score. Higher-quality actions that take more risk will earn a higher score. Here's how you can increase a chest’s score:

  • The longer an option offer is live, the higher its score will be.
  • The higher the option offer, the higher its score will be.
  • The longer an option listing is live, the higher its score will be.
  • The lower an option’s listing price, the higher its score will be.

A chest's score will be slashed if the user engages in behavior like canceling offers immediately before they are accepted or repeatedly making offers/listings and then canceling them.

Multicycle Rewards

If you list an option or make an option offer in one cycle and it is accepted in another, you will earn chests for all those cycles. This means you don't need to cancel a listing/offer between seasons to qualify for chests.

For example, if you make an offer on a Milady option in cycle 2 and it is accepted in cycle 4, you will earn a chest for all three cycles. As always, the rarity depends on the quality and quantity of your actions, so if the offer is the highest for one cycle but not the others your chest's score will be affected.

Treasure Chest Reveals

After each cycle, you'll be able to see the rarity of your treasure chests in the Rewards tab.

Treasure chests will be opened at a later date.

Start earning in Hook's Season 1 Treasure Hunt now! https://hook.xyz/

Updated 8 months ago