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Retik Finance offers a variety of blockchain-driven products and services that are rarely seen in the crypto realm. This distinctive portfolio grants Retik Finance a notable competitive advantage. Nevertheless, in spite of this strength, the Retik Finance price has suffered a major price decline since its launch and continues to struggle in its efforts to rebound. It currently has a market cap of less than $1 million as well.
Retik Finance Presale
Retik Finance has completed its successful presale, which was structured in ten distinct stages. Each stage saw a significant number of tokens sold, culminating in a total of 400 million tokens sold across all stages. The presale attracted a total of $32,050,000 in funds, demonstrating strong investor interest and confidence in Retik Finance.
The Retik Finance presale began with Stage 1, where 15 million tokens were offered at a price of $0.03 each, reaching a hard cap of $450,000. As the stages progressed, the number of tokens available and the Retik Finance price increased. By Stage 10, 45 million tokens were sold at a price of $0.12, achieving a hard cap of $5,400,000. Each stage of the Retik Finance presale was met with enthusiastic participation, leading to all stages being sold out. The Retik Finance token then launched at a market debut price of $0.15.
Current Market Standing
Retik Finance Price
The native coin of the Retik Finance platform, RETIK, is trading at $0.001966 as of Dec 4. 11, 2024. This is after the altcoin gained more than 22% throughout the past day of trading. Despite the recent surge in the Retik Finance price, the Retik Finance price history has been less than ideal, with the crypto's current price still more than 99% below its launch price earlier this year.
RETIK's 24-hour trading volume stands at around $191.99K, according to CoinMarketCap. This is a 50% increase from the trading volume recorded the day before.
Market Cap
With regards to market cap, the more than 99% price decline has brough RETIK's total market cap down to around $305.95K, with a circulating supply of 155 million RETIK tokens.
For anyone that sees the current price as a buy opportunity, RETIK can be traded on multiple exchanges. Included in the list of available platforms is the popular MEXC, BingX and BitMart centralized exchanges. It can also be traded on the decentralized exchange Uniswap V3, CoinW, P2B and Bitrue.
Retik Finance Ecosystem Overview
Retik Finance is a blockchain-powered platform that offers a suite of innovative financial solutions that are tailored to “redefine global transactions,” according to the Retik Finance website. The range of offerings includes debit cards, a smart crypto payment gateway, decentralized transactions, peer-to-peer (P2P) lending as well as a multi-chain and non-custodial wallet solution.
Cards And Rewards
Retik Finance offers a tiered debit card program that gives users varying cashback benefits. There is a Silver, Gold and Diamond debit card. The Silver card offered by Retik Finance boasts $10, and gives holders 2.5% cashback on their transactions. Meanwhile, the Gold card costs $49 and comes with a 3.75% cashback benefit. The most expensive card in the Retik Finance ecosystem, which is the Diamond debit card, has a purchase price of $99 and offers holders up to 5% back on their transactions. All of these rewards are paid back in RETIK tokens.
These Retik Finance debit cards can also be used for any purchases, whether online or in store, according to the project's WhitePaper. Users can also withdraw their crypto cash via ATMs using their cards. What's more, Retik Finance protects the privacy of its users, and does not require KYC before a card is issued.
Peer-to-peer (P2P) Lending
Users are able to collateralize their deposits in order to borrow other assets on the Retik Finance platform. Interest rates for borrowing assets in the Retik Finance ecosystem are algorithmically set, and take into account supply and demand dynamics for the asset. Additionally, users can borrow assets without having to specify maturity dates.
Retik Wallet
Retik Wallet is a secure, non-custodial wallet designed to support multiple blockchains, giving users complete control over their digital assets. This innovative wallet prioritizes security, ensuring that your private keys remain in your possession at all times. By eliminating the need for a third-party custodian, Retik Wallet empowers users to manage their cryptocurrencies with confidence.
With its multi-blockchain support, Retik Wallet allows users to store and transact with various cryptocurrencies seamlessly. This versatility makes it an ideal choice for those who engage with different blockchain networks. The user-friendly interface simplifies the process of managing multiple assets, making it accessible for both beginners and experienced users alike.
Retik Wallet not only focuses on security and usability but also emphasizes the importance of user autonomy. By providing full control over your assets, it aligns with the core principles of decentralization. Users can enjoy peace of mind knowing that their funds are safe and that they have the ultimate authority over their financial transactions.
Retik Pay
Retik Finance also offers a blockchain-enabled payment railway that can be used by both merchants and consumers. With this innovative payment solution, users can take advantage of the seamless, secure and low-cost transactions enabled by distributed ledger technology. Anyone from across the globe can transact on Retik Pay, which unlocks real-time settlements for users.
Tokenomics
RETIK tokens follow the ERC-20 token standard and are hosted on the Ethereum blockchain with a total supply of 1,000,000,000 coins. Of this total supply, the biggest percentage has been allocated to the project's presale, with 40% set aside for early investors.
RETIK token allocation
Another 24% will be allocated to the Retik Finance ecosystem, while 12% will be used for liquidity and listing reserves. The remaining allocations include 6% to market making and KOLs, 5% to Retik Finance's cashback reserve, 4% to marketing, 3% to partners and the remaining 6% to the project's team.
Is Retik Finance Legit?
Retik Finance has a score of 1.7 out of 5 on Trustpilot. Although 12% of people on the platform rated the project 5 stars, an overwhelming 80% of the users on the rating platform scored Retik Finance 1 star.
There are a lot of comments calling Retik Finance a scam and several users on Trustpilot have shared their bad personal experiences with the Retik Finance team on its social platforms as well. It is important to take into account that these negative reviews might just be from disgruntled investors who lost money investing in RETIK after its 99% plunge post launch.
Users on the crypto forum Bitcointalk have also highlighted similarities between the Retik Finance team and supposed scams run in the past. According to users on the forum, Retik Finance is using a whitepaper that has been linked to past scams. Reddit users supposedly also investigated Retik Finance and raised some red flags that suggest it might be a scam. The Bitcointalk users subsequently warned readers against connecting their wallets to any of the products offered in the Retik Finance ecosystem, as it could lead to a loss of funds.
From a security and code audit perspective, RETIK's smart contract has received a score of 77.29 out of 100 from the reputable security and auditing firm, Certik. This places it in the top 15% of projects. Looking at the publicly-available audit report, 2 warnings were raised by Certik. The first warning is that the smart contract's ownership cannot be renounced. The second warning is with regards to a trading platform blacklisting RETIK.
Regardless of the respectable security score, some RETIK holders are concerned with the lack of updates and communication from the Retik Finance team.
Overall, the steep drop in RETIK's price, the lack of updates from the Retik Finance team, and the negative comments from investors and holders suggests that traders and investors will want to perform proper due diligence before investing in Retik Finance.
A key thing to keep an eye on is whether Retik Finance delivers on its roadmap. Although the current price could be seen as a buy opportunity, the negative sentiment clouding RETIK warns that it may take a bit longer for the crypto's price to begin climbing, if there is even a chance of recovery.
Frequently Asked Questions
What products and services does Retik Finance offer?
Retik Finance offers a comprehensive suite of blockchain-powered products in the decentralized finance (DeFi) space. These include debit cards with cashback rewards, a peer-to-peer (P2P) lending platform, a non-custodial wallet, and Retik Pay.
Why has the price of the RETIK token dropped so significantly?
Despite the innovative offerings of Retik Finance, the Retik Finance price has plummeted by over 99% since its launch. Factors contributing to this decline in the Retik Finance price include low trading volume, negative sentiment from investors, and a lack of consistent updates from the Retik Finance team.
Is Retik Finance a trustworthy project?
Retik Finance has received mixed reviews. While its smart contract was rated favorably by Certik with a score of 77.29, indicating decent security, there are concerns about its team's lack of communication and negative investor feedback. questionable whitepaper and links to past scams. Investors should exercise caution and perform thorough due diligence before engaging with Retik Finance.
