Richquack (QUACK) and Shiba Inu (SHIB) have been the face of the memecoin culture, but each of them has certain features that distinguish them. After all, both were conceived as cryptographic memes, but they became polarities in terms of ideology, structures, and other attributes. Let's take a better view on some of their aspects and see, what makes Richquack different and competitive in the market of memecoins.
Background and Culture
The Shiba Inu was launched in August 2020 with a retort tagline as “Doge Killer” as it was seeking to dethrone Dogecoin (DOGE) as the leading memecoin. Shiba Inu was able to create a dedicated fanbase by capitalizing on the hype surrounding the meme of the original Doge coin and the “Shiba” dog. It became a household name when it started getting traction in different media platforms after it got listed in some of the world’s top exchanges like Binance, and ShibaSwap was launched. The holders of SHIB, affectionately called the “Shib Army,” have perhaps been the best asset of the token which created a web of enthusiastic fans.
As for the other tokens which are attached to sourth, the most interesting is Richquack (QUACK). It was launched within 2021 and works on what they describe to be a hyper deflationary token with high rewards for holders. It shares the meme based fun of a Shiba Inu, however goes a bit further as it is able to brand itself as potential high rewards community based project that aims to reward its long-term holders through automatic liquidity generation and static rewards system. Although being less massive than the Shiba Inu, the community of Richquack ‘Quack Army’ is actively contributing to promotion and growth of the token as well.
Tokenomics and Utility
There are three tokens SHIB, LEASH and BONE in the ecosystem of Shiba Inu, which has certain establishment for the three. Each one within the Shiba Inu network is designed to perform Shiba Switch with trading, staking and providing liquidity to be done with the main coin, which is SHIB. LEASH and BONE are, on the other hand, dedicated to specific roles within governance and reward mechanisms. Shiba Inus focus is on decentralized finance (DeFi), NFTs, and its upcoming Shibarium Layer-2 blockchain solution which will allow increase transaction speed and lower the costs.
Richquack, however, stresses its hyper-deflationary tokenomics. It has an automated liquidity pool that continuously supplies liquidity to the market, and a reflection mechanism that allocates part of every transaction to the holders. This model focuses on shrinking the circulating supply while providing incentives for loyal holders to increase their time horizons. In contrast, Shiba Inu’s economics are relatively more complicated owing to its multi-token ecosystem and DeFi modules.
Richquack’s Key Feature: Community-Driven Hyper-Deflationary Model
What differentiates Richquack from other memecoins of the likes of Shiba Inu is it’s self proclaimed status as a hyper-deflationary token. This means that the more people trade on QUACK, the less the circulating supply, which in turn means that theoretically, each token becomes more valuable than its predecessor. The static reward mechanism in place serves to automatically allocate a fraction of all QUACK transactions to all existing holders, which drives home the concept of long-term holding.
Richquack has also branded itself as more than just a memecoin. It sees itself as a decentralized project launchpad (QUACK Launchpad) and a high return yield farming play, instead of just a meme coin susceptible to mere price speculation. This makes it good for investors targeting more than just memes gimmick, since they already foresee future utility for Richquack’s ecosystem.
Conclusion
Despite the origins of both Richquack and Shiba Inu as memecoins, they have taken different directions. Shiba Inu is already established with a well-rounded token ecosystem and more oriented towards DeFi and NFTs. On the contrary, Richquack distinguishes itself with its hyper-deflationary model and community-oriented rewards that attract investors aiming for long term growth. As such, for investors looking to hold onto a memecoin designed to have aggressive deflationary characteristics and focus on rewarding loyal holders, Richquack presents itself as a viable alternative to Shiba Inu.