The meme project’s community is growing, perhaps driven by the platform’s utilities.
RichQuack Takes the Lead
RichQuack stealth-launched in June 2021 as a community-driven initiative.
As seen on its website, the project has a decentralized multi-chain launchpad and plans for a metaverse. Other offerings include a lotto and raffle service where players can win rewards by wagering their $QUACK tokens.
As of July 21, RichQuack heads the list of BNB Chain projects most socially active on Twitter. Considering RichQuack beat notable BNB Chain meme-heavyweights like SafeMoon, Baby Doge Coin, and FlokiInu to get to the top of the list, one is compelled to take a closer look at what the buzz is about RichQuack.
So, what makes RichQuack tick? Like many meme tokens, QUACK started with a huge total supply, 100 quadrillion tokens, out of which 50 quadrillion was burned at launch. The current circulating supply is 44.5 quadrillion tokens.
QUACK is a reflection token, and redistributes 4% of the transaction fee to holders while 4% goes to the liquidity pool and 2% to the buy-back-and-burn blackhole.
Gate.io Labs has a strategic investment in RichQuack which calls itself the next competitor of Dogecoin. The token promises to make its long-term investors “fucking rich.” From an all-time low price of $0.000000000012 in October 2021, QUACK multiplied its value by 1,288 times, reaching an all-time high of $0.000000015463 in November 2021. The value has since fallen from its all-time-high by about 95% to $0.000000000749, with a total Market Cap (MC) of $33.3 million, as of writing.
Another thing that seems to attract meme token lovers to the RichQuack project is its incubator and launchpad. Holders of the QUACK token get early access to Initial DEX Offerings (IDOs) and token presales of projects incubated by the platform. The platform successfully incubated its first project, Earthling, in May.
In an interview with AmbCrypto, RichQuack’s anonymous founder explained how the launchpad adds value for the token’s holders:
“We pick the best & safest project for QUACK Holders. There are a lot of scams and rugs in crypto right now. We want to help our investors to avoid that kind of project. We want to create a fair launch system for everyone so that everyone could have an opportunity to participate in presales,” he said. “We believe that IDO will be the future for everyone to raise capital. Hopefully, we can get some real-world companies to do their IDO with QUACK Launchpad. We will be working with some Angels and VCs to make this happen.”
Are we seeing another meme token emerge to battle for the title of king of the crypto meme-space with established heavyweights like Shiba Inu ($6.9 billion MC), SafeMoon ($244.2 million MC), Baby Doge Coin ($206.9 million MC), Floki Inu ($89.8 million MC), etc?
Social media followership is a common metric used to assess the strength of a meme project’s community. The number of RichQuack’s Twitter followers is currently above 240,000 and is steadily growing which may suggest that another contender to the meme-crown has come to town.
This article is not an endorsement of RichQuack but rather seeks to highlight a new trend in the BNB Chain meme-space.
What Is RichQuack:
RichQuack is a community-driven project which was founded to give the best returns for the community effort of its investors. The platform’s utility includes a decentralized multi-chain launchpad, raffles, and lotteries for holders of the QUACK token.
The platform’s QUACK token is hyper-deflationary and rewards long-term holders with a portion of the transaction tax and early access to IDOs.
Where to find RichQuack:
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This news is republished from another source. You can check the original article here.