What Is RichQUACK?

About RichQUACK (QUACK)

RichQUACK is a blockchain project with a meme coin at its heart; it strives to make a robust ecosystem and platform that facilitates crowdfunding for new promising crypto projects.

The project’s native cryptocurrency QUACK is built on BSC. The maximum token supply is set at 100 quadrillions, but over half of that, nearly 54 quadrillions, has been burned as of writing this article in March 2023.

RichQUACK features static rewards – fixed incentives for the holders of QUACK. They encourage long-term holding and promote the network’s stability.

RichQUACK offers these products:

1. Incubator. There is an opportunity to pitch their initiatives and invest in other people’s ventures via the platform. Anyone can apply; after that, the projects go through a quality check and a KYC procedure. Then users vote for the ideas they like.
2. DAO Voting. Those users who have over 100B QUACK can vote for the initiatives that get funding.
3. Staking. Stakers can lock up their assets for a period of up to 5 years. These users might receive the tokens of the Incubator projects.

Together with giving funds to the newly established blockchain projects that take part in Incubator, RichQUACK also offers them expert advice on marketing, strategy, PR, etc.

The RichQUACK platform charges 12% from each transaction, a part of which is then distributed to holders, another part is burned (or sent to the black hole, as they call it), and the final one is given to the dev team.

In addition, the platform strives to prevent fraud by prohibiting each wallet from holding over 1% of QUACK's supply. This is done to protect holders from large market players’ moves.

RichQUACK values the community called QUACKArmy and encourages them to promote the coin to make it go viral. In February 2023 the platform’s Twitter account had over 288,000 followers.

Where did RichQUACK (QUACK) come from?

RichQUACK was established in August 2021 by a team of professional investors who have previously worked on large-scale projects. Nevertheless, no names or affiliations are disclosed, so these claims do not seem particularly trustworthy. They also mention that the RichQUACK team consists of volunteers.

RichQUACK has this name because the team makes fun of those who come to the blockchain field to become rich quickly. Unlike lots of other meme cryptocurrencies, its mascot is not a dog, but a duck that looks similar to Disney’s Scrooge McDuck.

RichQUACK was supported by the investor Gate.io Labs.

It intends to roll out its own Mainnet, as well as an NFT platform and a Metaverse.

What are the advantages of RichQUACK (QUACK)?

1. A straightforward rewards system. Users get QUACK tokens even if they simply hold them in their wallets.
2. Anti-whale measures. The 1% rule defends token holders from large market players’ moves.
3. Crowdfunding opportunities. Innovative businesses can receive funds and professional guidance, and other platform participants get an opportunity to invest in high-potential initiatives at an early stage.

What are the disadvantages of RichQUACK (QUACK)?

1. Not enough transparency. Despite putting emphasis on expertise, the team's previous experience or any real names are not mentioned.
2. Lack of utility. So far, this is mostly a meme token, although the project is expected to grow in the future and invest in building utility.

How to buy RichQUACK (QUACK) on SimpleSwap?

If you wish to purchase QUACK and become a member of QUACKArmy, SimpleSwap is always ready to assist you. Follow the steps we have listed below:

1. Select the cryptocurrency you would like to exchange (e.g., Bitcoin). Enter the amount you want to swap.
2. Choose QUACK in the second drop-down list (the crypto you would like to receive). You will see the estimated amount that you will get after the exchange.
3. Click the Exchange button.
4. Enter the Recipient's Address. QUACK will be sent there. Please check that you entered the right address.
5. Create the exchange.
6. You will see the BTC deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange. After that, wait for tokens to reach your wallet.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.