I am now officially part of the Drip Network!
After a suggestion from another Medium user (Thank you jebalukas!) I have decided to join the Drip network.
(NONE OF WHAT I WRITE IN MY ARTICLES IS TO BE TAKEN AS INVESTMENT ADVICE. I am not an advisor for this nor am I suggesting any financial action on your part. DYOR)
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I looked at a few YouTube videos & the Drip wiki, which can be found here:
I then watched their cool tutorial on how to get started, which answered a few questions about how it all works.
I have been in several online Dapp crypto miners. The earnings/ withdraws always seemed to fight against the TVL, & produced inflation. This then fought against the value of your deposits/ compounds & thus your ability to earn. Usually, the higher the daily APR then the shorter the life of the miner.
Drip is set at 1% daily, which is very low. This in itself should help the miner have a long life.
The also have a max payout of 365% your deposit. This fights against whales taking out too much TVL. The TVL is also directly supported by their own token, DRIP.
The project was started way back in April 2021, almost 18 months ago. That’s 534 days! (Only 25 days longer than BNB Miner!) This means that it is probably a long term project.
I like long term projects!
So how much did I invest?
As always, I started with $20, 0.07 BNB in this case. This bought me 2.84549259913468 DRIP tokens. I then deposited 2 of them into the Faucet. After taxes it was actually 1.845 DRIP tokens…
I know this is small but don’t worry it’ll grow.
According to my Drip estimate spreadsheet, my deposit should grow to 2.46, which means that daily earnings should be 0.0246 daily, & max payout would be 8.98. That’s a 30% growth in about a month, if I only compound.
Of course this doesn’t take into effect any withdraws or changes in the TVL…
They are also planning on launching several new products to their ecosystem in the near future.
I do plan on doing withdraws, probably on Saturdays as usual. But I will probably also start making more deposits & build my daily earnings faster. This should be a great project for the foreseeable future.
There is 1 catch…
In order to participate in the Drip network you have to be connected to a buddy, basically the person that referred you to the network. It’s basically a 10% referral system.
More info can be found here (scroll down to the team and referral rewards system):
Therefore, if you like what you have read so far & would like to join then use my buddy code: 0xdD06977A89C828BEAAA5A4ed439dBbC69210AcF5
Or click on my referral link here:
drip.community/faucet?buddy=0xdD06977A89C828BEAAA5A4ed439dBbC69210AcF5
I’m looking forward to growing with this project as well!
Now following anybody that interacts with my articles… God Speed!