RichQUACK.com
Crypto Overview
Project Overview
RichQUACK.com (QUACK) is a BEP-20 token launched on the Binance Smart Chain in 2021. The project markets itself as a decentralized network aiming to provide a hyper-deflationary token with auto-liquidity generation and rewards for holders.
Intended Utility
The stated purpose includes serving as a community-driven token with built-in reflection mechanisms that reward holders, featuring auto-burn functionality and automatic liquidity provision. The project claims to focus on creating a sustainable ecosystem through various DeFi functionalities.
Actual Usage Analysis
Current usage appears primarily focused on trading and speculation rather than genuine utility development. While the project claims various use cases including NFTs and gaming, there is limited evidence of substantial development in these areas.
Token Distribution and Governance
The token implements a tax mechanism on transactions: 4% is redistributed to holders, 4% goes to liquidity pools, and 2% is burned. This mechanism raises concerns about transaction costs and potential manipulation. The initial token distribution and founder holdings information lacks transparency.
Development Activity
On-chain analysis reveals limited technical development activity. The project's updates focus primarily on marketing activities rather than substantial technical improvements or utility expansion.
Business Model Evaluation
The current business model heavily relies on new buyers entering the market to maintain token value, raising concerns about long-term sustainability. The reflection mechanism effectively functions as a form of reward distribution that could be interpreted as problematic from a Shariah perspective due to its similarity to riba-like characteristics.
Crypto Impact
To assign a comfort level investing in RichQUACK.com from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to RichQUACK.com.
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