Cryptocurrency project RichQUACK.com experienced a surge of interest in Aug., according to metrics from CoinMarketCap.
Updated Sep. 28, 4:00 PM UTC: BeInCrypto has detected unusual activity in this article. It does not represent an endorsement for RichQUACK. Our only aim is to provide our readers with valuable information about some lower-cap cryptocurrencies.
With over 229,000 CoinMarketCap users adding RichQUACK.com to their watchlist, more than double second-place SENSO, it overcame even Bitcoin to claim the top spot on the list.
CMC highlighted that the Binance Smart Chain-based memecoin, which ranked first amongst BNB Chain projects by social activity, derives its strength from its community.
In addition to the recently achieved all-time high of 128,000 on-chain holders, the project has attracted over 268,000 Twitter followers, 50,800 Telegram members, and 19,400 Discord members.
Although down in the past 30 days since a spiked peak in Aug., the token has appreciated 1,220% over the past year, according to CoinGecko.
RichQUACK origins
Originally intended as a quasi-competitor to Dogecoin when launched in June 2021, RichQUACK is a community-driven project designed for automatic liquidity that generates payouts and static rewards for its holders.
RichQUACK features a BEP-20 token that is hyper-deflationary. This means that while 50% of its total QUACK supply of 100 quadrillion was seeded as liquidity, the protocol’s Black Hole Algorithm is designed to exponentially reduce the remainder.
QUACK also features a 10% transaction fee, automatically distributed to token holders through an automated yield farming system. Out of the collected fees, 5% goes to the auto-farming system, where tokens are distributed to the token holders, while another 5% is locked in a liquidity pool on PancakeSwap.
The platform also offers a jackpot ruffle event dubbed the “Quackpot,” in addition to a lottery game that will be played in hourly, daily, weekly, and monthly intervals, that gives platform users a chance to win prizes.
Launchpad/Incubator
RichQUACK also serves as a facilitator between enterprising blockchain-based startups and potential investors. It offers startups funding, support and advice, with the help of different teams.
While one arranges the necessary resources and processes for a successful launch, another generates content to promote the project on social media platforms. Using partnerships with exchanges, RichQUACK also connects these startups with business management.
In the meantime, RichQUACK also vets these firms on behalf of potential investors. Any prospective companies are welcome to apply, but must pass RichQUACK’s strict quality standard check and know your customer (KYC) agreements, in order to reduce risk exposure for its users.
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