RichQuack.com: A Full Review
Richquack is a decentralized community-owned platform that builds its token on the Binance Smart Chain. The name is a play on the phrase “Rich Quick”-mocking investors who believe they can get rich overnight with no effort.
Contrastly, the Richquack community of holders is committed to working hard, contributing to launching $Quack to the moon while making crypto millionaires that share a similar inspiration. The Richquack site clearly communicates this idea on the homepage for potential investors.
In addition to this unique view, Richquack operates a Black Hole design which removes around 50% of Quacks from the circulating supply. It is the first Token to have this design, making it an essential piece in Richquack’s operation.
Lastly, Richquack adopts an auto-liquidity feature that speeds up the ease of converting $Quacks to digital assets or cash while maintaining the price. This innovative solution is central to the crypto’s speedy adoption and growth.
About RichQuack (QUACK) Token
The RichQuack (QUACK) token is built on the Binance Smart Chain network. Its deployment follows the BEP-20 token protocol, which is an extension of the ERC-20. The total supply of Quack is set at 100 quadrillions.
Richquack started in June 2021 with a maximum total supply of 100 quadrillion QUACKs. Since then, the platform has generally grown in popularity among meme-coiners and the crypto community.
Testament to this success is the fact that $Quack, the native Token of the platform, is currently ranked in the top 500 cryptocurrencies, according to Coinmarketcap’s estimation at the time of this writing.
Similarly, as seen in the image below, more than 2 million investors have the coin on their waitlist while it is doing over USD 31 million in market cap.
Richquack attributes its rapid growth to the community across all social media channels. We pulled up the platform's social index on LunarCrush and discovered that Richquack had over 700 million engagements on all social media channels in a year.
Conversion-wise, the platform’s large engagement numbers have helped it generate 127,934 account holders and close to 500k transfers.
How Richquack works
As mentioned earlier, Richquack believes in getting rich through a collective effort. Therefore, the token, Quack is a hyper-deflationary system that rewards users for holding it by paying them for their loyalty while sending 50% of its supply to the black hole to retain its value through scarcity.
With the auto-liquidity feature, the platform automatically distributes the 10% transaction fee to its token holders using liquidity mining and an automated yield farming system.
Furthermore, there are a few things of note about the transaction fee and liquidity:
- 5% of the collected fee will be locked in a liquidity pool on PancakeSwap
- Another 5% goes to the auto-farming system, where tokens are distributed to holders.
Quackpot is the platform’s jackpot ruffle event where users can win amazing prizes. This comprises a lottery game that pays users hourly, daily, weekly, and monthly. All holders will be eligible to win the Mega QUACKPOT! The more QUACK you have, the bigger your chance to win.
Quack Pad is the launchpad program that helps aspiring founders build and launch next-gen projects within Richquack’s ecosystem.
Richquack is building its first metaverse experience on Vimpto; a collection of unique worlds built on Unity, living on Ethereum.
Richquack grants up to $100,000 to new projects accepted into its incubator program.
RichQUACK will also have Staking, where you can stake your QUACK to receive other tokens.
With a minimum of 100B Quack, a holder will have access to vote for or against new policies and features in the decentralized platform. Voting will remain open until the time the IDO is about to start.
Aspiring crypto founders can rely on Richquack’s team of experts to support their projects with resources across all the developmental stages. This further aligns with the core mission to help each other grow.
Who Created RichQuack (QUACK) Token?
Currently, we don’t know the creators of the Richquack platform. Even in articles where the founder(s) is interviewed, their name is not mentioned.
Various sources have reported that the platform was founded by more than 60 developers who go by the name “The QuackFellas”.
On LinkedIn, an account holder names Ben Quack is listed as a Co-founder at RichQuacks.
But seeing anyone could actually create a company account without any prior verification on Linkedin, this information might be unreliable.
This type of anonymity is not strange in the crypto world but associating a name and a face with a crypto project helps. However, because the platform and the project are 100% community-driven and managed by volunteers, Richquack is considered safe for investing.
Who is RichQuack's investor?
According to the website, Gate.io is Richquack's official investor. One of the world's leading cryptocurrency exchanges, with the most number of cryptocurrencies available for trade.
How to join the RichQuack launchpad
Get $QUACK Tokens
You can purchase the $QUACK token on the following DEX platforms:
- Pancakeswap (most recommended)
Stake some $QUACK
To access the IDO, you must stake $QUACKs. After you’ve purchased some Quack into your wallet, go to https://app.richquack.com/levels and follow these steps to stake:
- Connect your wallet.
- Choose the preferred staking Period.
- Input the number of quacks you wish to Stake.
- If you want to stake everything in your wallet, press “Max”.
- Click the “Approve Button” to grant permission to your wallet.
- After clicking the stake button, you will see the assigned APR for reward calculation (based on the lock period).
- You can withdraw the stake reward anytime.
We should also mention that you need to be eligible to participate in Quack’s public IDOs. If you’re not registered yet, go to the IDO page and register.
According to the website, registering for an IDO will automatically extend your lock period by five days.
Following the completion of the registration step, the proportion of tokens that each registered user will be able to acquire is calculated based on Pool Weight. The formula for calculating pool weight may be found here.
RichQUACK Public IDOs will be divided into 3 rounds. You can Read the full details here, but here is a summary.
This round is reserved to registered IDO participants with Level 1–9 Requirements.
Duration: 2 Hour. It begins as per the start date & time specified by the IDO creator.
Max % of Hardcap: 100%
Note: Lottery allocation counted after the registration period ended and shown on the project page. “Congratulations, You win Allocation for Moon Round.”
Diamond Quack Round
This round is reserved for all IDO registered users with Level 1–9 with 30–90 days stake.
The round is split into 4 even intervals (30m), with each gap increasing the FCFS multiplier: 0.3x, 0.9x, 2x, 3x.
You need to refresh the IDO page at the start of an FCFS round to see your updated allocation as soon as possible.
Duration: Starts as per start date & time specified by the IDO creator. Lasts for 2 hours**.
Max % of Hardcap: 100% or Whatever is left
Paper Quack Round
This round operates on a First Come, First Served (FCFS) basis. All stakers can participate regardless of their registration or lottery status.
Duration: Starts 2 hours after the Diamond QUACK round starts. Last for 2 hours or until sold out.
Max % of Hardcap: 100% or Whatever is left. Maximum buy 10% of the Total token left after the diamond round.
If a hard cap is reached during the Moon QUACK round, the IDO ends immediately and successfully, and markets can be initiated. There is no FCFS round in that case.
The tokens that need to be held (Moon QUACK) must be in the wallet you will use to connect to an IDO and must be on the same blockchain as the IDO. DIamond QUACK & Paper QUACK is a First Come, First Serve Round.
RichQuack Tokenomics explained
These are some features that make Quacks economics valuable for its community:
Richquack restricts selling to less than 0.1% of the total supply and no wallet address can hold more than 1% of the total supply.
100 Quadrillion total
50% of the QUACK is seeded as liquidity & 50% goes straight into our Black Hole Algorithm.
12% transaction fee
4% Holder Rewards, 4% Auto Liquidity, 2% Quack PUMP & Burn Wallet, 2% Marketing & Dev Wallet
3% ecosystem reward
1% in Deployer Wallet & 2% Locked in Team.Finance for Airdrop & Staking Rewards!
Moneybin locked for 5 years
Liquidity Locked on Team.Finance. This ensures holders are safe from RUG.
How to get RichQuack
You can trade Richquack for BNB on decentralized exchange platforms on the Binance Smart Chain, such as PancakeSwap.
- Buy BNB on Crypto.com. You’d need to have enough BNB in your wallet to trade the specific amount of QUACK, including the gas fees.
- Transfer the BNB into your Metamask wallet (or any preferred Web 3.0 wallet)
- Open the DEX platform and find QUACK.
- Connect your Metamask wallet to the DEX
- Trade BNB for QUACK on PancakeSwap
The QUACK will be deposited in your account promptly when the transaction is approved.
Is Richquack listed on Binance?
Richquack is not listed on Binance. To buy Richquack tokens, visit DEX like Pancakeswap, Gate.io and MEXC.