Ceffu’s Escrow Service Secures Treasury for Hooked Protocol

2022-12-16  •  3 min read

Hooked Protocol, the ​​Web3 gamified social learning platform recently launched through Binance Launchpad, has chosen Ceffu's institutional-grade cold storage solution to secure its treasury. As per the escrow agreement, Hooked Protocol has allocated their $HOOK tokens to a dedicated, segregated cold wallet where the tokens will remain for the first year, after which a 60-month linear release of the tokens will take place. 

Our independent, third-party offering helps contracting parties execute bespoke escrow transaction terms with institutional-grade security and peace of mind, backed by our insured cold storage solution. 

"Security is one of our core pillars, and we're excited to entrust it with Ceffu," shares Jason Y., Founder of Hooked Protocol. "Their institutional platform empowers us to focus on building while knowing our assets and those of our community are kept safe in their segregated cold storage."

Our institutional escrow service is built upon our Qualified Wallet infrastructure, which provides clients with their own segregated on-chain wallet address. This address contains only the client’s own funds, which can be verified directly on the blockchain, giving clients and their community full visibility that the only movements in and out of the wallet belong to the client and providing verifiable proof of assets. Client assets are never commingled with other user assets, our own, nor with assets of Ceffu. 

Powered by multi-party computation technology, our Qualified Wallet solution distributes shares of a client’s private key across different geographical locations, thereby avoiding any single point of failure and ensuring the highest levels of security are in place to help relevant parties transact with peace of mind. 

“We’re honored to support the early journey of crypto projects as their qualified escrow partner,” shares Athena Yu, VP of Ceffu. “By securing their treasury with our insured, compliant institutional custody solution, clients significantly reduce counterparty risk and ensure that their assets remain safe in a dedicated, segregated cold wallet until all the terms have been met by both parties. We look forward to continuing to support the ecosystem by facilitating more secure transactions for clients through our institutional escrow service.”

We invite institutional clients looking for an independent, qualified third-party escrow service provider to secure their escrow transaction to contact our team here for more details.

About Hooked Protocol

Hooked Protocol is building the on-ramp layer for massive Web3 adoption, providing tailored Learn & Earn products and onboarding infrastructures for users & businesses to enter the new world of web3. Its first pilot product, Wild Cash, with Quiz-to-Earn experience and other gamified learning features, achieved an impressive growth of over 2 million monthly active users. Hooked Protocol adopts an innovative single token (HOOK) oriented structure, supplemented with in-ecosystem only utility token HGT (Hooked Gold Token). HOOK is the governance token of the ecosystem.

For more information, visit www.hooked.io 

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LinkedIn: Ceffu
Twitter: @CeffuGlobal

About Ceffu

Ceffu is a compliant, institutional-grade custody platform offering custody and liquidity solutions that are ISO 27001 & 27701 certified and SOC Type 1 & Type 2 attested. Its multi-party computation (MPC) technology, combined with a customizable multi-approval scheme, provides bespoke solutions allowing institutional clients to safely store and manage their digital assets through its insured, segregated cold storage solution, Qualified Wallet. Institutions also benefit from Ceffu’s secure gateway to a wide range of liquidity products within the Binance ecosystem as Binance’s institutional custody partner.

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LinkedIn: Ceffu
Twitter: @CeffuGlobal