RichQUACK achieves another milestone by recording $1 million in total value locked (TVL) for its recently launched staking pool.
What Is RichQuack?
RichQuack is a 100% community-driven platform that leverages hyper-deflationary tokens with high liquidity that awards holders with static rewards. The coin supply is constantly decreasing with part of the transaction fee automatically burned. This way the coin has an ever-decreasing cap making the coin more valuable over time.
RichQuack’s Staking Pool
RichQUACK token recently added a new staking pool for its launchpad as a new benefit exclusively accessible to QUACK token holders on its dApp. The staking pool is audited by Techrate. The audit report found that the smart contract is safe for holders and does not contain any security issues.
RichQUACK’s staking pool can earn $QUACK token holders up to 28% yearly interest, depending on the duration of staking, which ranges between seven and 90 days. If you stake your token for 30 days, you will get only 13% APR, but if you stake for a longer duration of 90 days you will receive 28% APR as a reward for supporting and sticking with the project.
The $1 Million TVL Milestone
RichQUACK has been able to build a strong community. The hyper-deflationary token is now backed by a community of more than 209,000 on Twitter and 50,000 on Telegram. Supported by its strong community, the RichQUACK’s staking pool received $1 million in staking inflows in fewer than a week after its launch on March 19.
Commenting on the strong interest from $QUACK token holders in the staking pool, a QUACK spokesperson, said:
“We are thrilled to see the amount of excitement that the staking pool has generated in the community. It’s great to see such user involvement and participation. There are more great projects coming up, and we are happy to be blazing forth with such great support from our users.”
RichQUACK also has other initiatives in the works
RichQuack also provides a launchpad or incubator program that helps launch other tokens by providing marketing, advisory, network, and capital.
RichQuack’s first incubated project, Earthling, will work as a decentralized platform where users will be able to buy carbon credits, offsetting their own carbon footprint. The platform will come equipped with a handy tool that will enable users to measure their own daily carbon emissions.
The eco-project aim is to promote sustainability in the blockchain community and beyond, granting users easy access to carbon credits backing various sustainability projects.
Voluntary carbon credit market, which is now considered an effective way to fight climate change, have became a billion-dollar industry. According to Ecosystem Marketplace, a market publication run by the environmental finance research nonprofit Forest Trends, the voluntary carbon credit market hit an all-time highs in 2021, reaching $1 billion.
U.N. Environment Programme, in its Emissions Gap Report 2021, also found that carbon markets could help slash emissions. The report, however, mentioned that the rules related to carbon credit must be “clearly defined and target actual reductions in emissions, while being supported by arrangements to track progress and provide transparency”.
Earthling aims to become the leading platform for eco-education, help individuals and businesses remove one gigatonne of carbon by the end of this decade. Under its reforestation program, the Earthling project has set a target of planting 50,000 trees by 2023, and 10 million trees by 2030.
RichQUACK is now a launchpad, incubator and staking platform. What’s next? In an exclusive conversation with AlexaBlockchain, RichQUACK team revealed that the company will explore the possibilities related to P2E, NFTs, and Metaverse after initial products are launched.
Read Also: RichQuack Launches A New Hyper-deflationary Token To Overcome Inflation
