DRIP Network is a low-risk, high reward contract that provides a modest 1% return on investment everyday which equates to 365% APR.
The real strength of DRIP is apparent when you use the ‘Hydrate’ a.k.a compounding function of the contract.Using this function you can exponentially increase your returns to 3680% APY.
What is DRIP?
DRIP is the token issued by DRIP Network. It enables any common man to generate passive income using its Smart Contract. DRIP token is created on the Binance Smart Chain so you will be using BNB to buy DRIP. Total supply is 1,000,000 DRIP tokens.
How Does It Work?
Step 1: You deposit DRIP into the faucet.
Step 2: The DRIP faucet pays you 1% interest on your investment every day.
Step 3: You can either withdraw the interest received or you can compound it using the ‘Hydrate’ function available in the faucet, increasing the total deposit and daily interest amount. Hydrating allows you to increase your returns to upto 3680% APY.
You will also see price increase when the DRIP token value increases (and also can go the other way around). There are new projects that will be launching in a few weeks which is expected to increase the DRIP token price 4x-5x.
Fun Fact: Only 9% of the total supply of tokens is available for trading. The remaining 91% is locked in the faucet which will help with the price of the DRIP token to increase.
Is It Safe? What Are The Chances Of Rug-Pull?
From my research, it is safer than 99% of the DEFI projects out there. DRIP project is designed in such as way that the users will be able to generate sufficient passive income while also paying the necessary fees to keep the network running.
The creator of DRIP, Forex Shark, is also a well known person who has a track record of creating projects that are unique, innovative and ground-breaking. The chances of rug-pull is almost non-existent.
As always DYOR (Do Your Own Research).
How Do You Start With DRIP?
DRIP uses buddy system. You cannot invest into DRIP faucet without adding a buddy address. Also, many people suggest using PanCakeSwap but I would suggest using the DRIP swap function to save 10% on fees that is levied by DRIP Network when you buy from other sources.
- Go to https://drip.community/fountain and exchange BNB for DRIP. (Buy atleast 1 DRIP)
- Enter a Buddy address in the Referral section. If this article helped you then do consider adding the FreedomWithDefi team member’s address for your Buddy: 0x7c1840b1cAb78c2AAB8B05d8C5E3a28b5C5121C7
- Add your DRIP to the faucet by entering the deposit amount and clicking the deposit button in the Deposit section of the same page.
- Your DRIP account is now setup and you will start receiving 1% everyday.
Freedom With Defi Telegram — https://t.me/FreedomWithDefi
DRIP Lightpaper — https://drip.community/docs/DRIP_LIGHTPAPER_v0.8_Lit_Version.pdf
DRIP CONTRACT (BSCSCAN)— https://bscscan.com/token/0x20f663cea80face82acdfa3aae6862d246ce0333
Note on Fees: As I mentioned above the whole network is self-sustaining because of the fees that the network collects so make sure you pay special attention to it. All the tax collected goes into the Tax Vault.
Disclaimer:
The article may contain affiliate links.
This is not a investment advice. Neither the author nor the publication takes any responsibility for any profits or losses you may incur as a result of this information.
