RichQuack (BNB: $QUACK) is a meme coin built on the premise that everyone wants to get rich quickly.
The project was named after a play on words in the phrase, Get Rich Quick. After launching on the BNB Smart Chain, RichQuack took steps to build out the community and make utility for its $QUACK token.
Before we get into the use cases for RichQuack’s native cryptocurrency, we wanted to mention that the project offers complete transparency with this disclaimer published on it’s official website: RichQuack.com
Disclaimer: This is a community driven project, which means everyone needs to work hard together and spread $QUACK like a virus or nothing is going to happen. Let’s create a supportive and motivated community of holders who are ready to work hard, hustle, contribute & risk it all for our one common goal! Together, we can launch $QUACK to the Moon and beyond! Please understand RichQuack is not an investment. Before we build all the utilities, $QUACK was initially created as a meme just like Dogecoin. RichQuack makes no promises and is not responsible for any losses or errors. Use at your own risk.
The $QUACK App
RichQuack has found several use cases for its $QUACK token and that utility can be found by accessing the Rich Quack App. We’ll cover the project’s LaunchPAD, Voting, and Staking mechanisms next.
The Launchpad allows community members to participate in blockchain startups. The app allows you to search, research and invest in up-and-coming projects launching on $QUACK. Anyone can apply to the Launchpad, but you must pass KYC verification and meet the RichQuack Strict Quality Standard first.
$QUACK tokens are also used for the governance mechanism of the RichQuack ecosystem. To be eligible to vote, you will need at least 100 billion $QUACK, however you must stake your $QUACK to participate in the governance system.
With that said, let’s finally talk about Staking. There are nine levels of Guaranteed Allocation (GA), which is determined by the number of tokens that you choose to stake. The Quack Pool currently offers a 14.21% APY with a 2.5% entry fee.
Additionally, there is an opportunity to earn free $QUACK tokens via partner and incubated projects.
$QUACK-onomics
$QUACK tokens are built on the Binance Smart Chain, renowned for its fast speed and low transaction costs. According to CoinMarketCap, there is a token supply of 100 quadrillion. The tokens are built on a hyper-deflationary model, which generates static rewards and payouts for holders via automated yield farming. 10% of all transaction fees are collected and spent on liquidity pools and rewards.
Half of the collected transaction fee will go to auto-yield farming, where they are distributed to token holders. The other half will be locked in a liquidity pool on PancakeSwap. In the future, the team plans to allocate 3% of its market wallet reserve to a staking and airdrop promo. They are also working on an anti-whale strategy to prevent the sale of more than 0.1% of the total supply. Additionally, no wallet will be allowed to hold more than 1% of the total supply.
Token Performance
The $QUACK tokens have been doing relatively well. They have a market cap of $27.3 million with a daily trading volume of around $18.66K on PancakeSwap and 552.4K on the combined 9 centralized exchanges that it is listed on.
Once the project launches its Quack Exchange, interest in $QUACK should surge dramatically. In regards to it’s online presence, RichQuack continues to grow with a following of 336.7k on Twitter alone.
[Click The $QUACK Chart Above To Trade On DexTools]
Final Thoughts
While RichQuack traces its origins to a meme token designed to mock get-rich-quick schemes, it has evolved into much more. The project’s focus on building real utility has paid off with a huge online following, which could soon translate into into a bigger market cap for $QUACK token holders.
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