Drip network is a project that was recently developed and the official token it has come up with captures its values through deflationary, scarce, and censorship-resistant. This is a truly decentralized blockchain.
The exchange it recommends for exchanging DRIP is actually the Fountain contact that is found on the platform directly under the tab “swap.” This allows the investors a rebate of 10% tax on the first purchase as well. Now let us learn about it in detail.
What Is A Drip Network?
DRIP or drip network is the first deflationary ROI platform which is offering daily returns on every investment. This token is a BEP-20 token on BSC or Binance Smart Chain that promises investors a daily return of 1% on every investment for almost 365% of their principal amount. On every transaction, there is a 10% tax deduction. Thus it is offering high liquidity at low prices.
For instance, if someone deposits $1,000 into this network, they pay a 10% deposit tax and get back 1% on the remaining $900 per day. You do not get back the principal, but you will get almost 365% of the principal in rewards, here, in this situation $,3,285 is 365x$900.
If you wish, you can also reinvest the money that you got as a reward and compound the potential maximum payout. But the limit is always 365% of the total amount you invested, and the limit is 100,000 DRIp. Drip network is promising a cross-chain bridge for expanding their project beyond the Binance chain and NFT rewards for those investors who will reach the specific goal.
Who Founded The Drip Network?
Back in July 2021, two unknown accounts named BB and Forex Shark, along with their team, launched the Drip network. No additional information is available on these people, so this is a big reason why investors should keep an open eye before making any decision.
Drip network has been around for a while now, but just like SQUID shows, investors have to be cautious when they choose to proceed with the investment in projects that are promising great rewards and are launched by some anonymous account.
Why Is It Unique?
The drip network has taken a different approach than any other tokens, which promises a deflationary dynamic, which makes it a good case study. The main three properties of the drip network are its referral system, the compounding mechanism, and the daily reward it offers.
Investors who want to buy DRIP can do so from the native fountain contact they have on site, waiving the deposit tax of 10%, or get it from Pancakeswap. As mentioned earlier, investors can forfeit the amount they have deposited but also get a 1% reward daily from “The Faucet.”
Drip Network also mentions that whatever a user deposits into this Faucet is sent to the burn address, making the DRIP deflationary. However, this protocol does not specifically mention if all the Drip deposited is burned or just a part of it.
How Does It Work?
For making any deposit into the faucet, investors require a referral code that anyone else would have to provide to “join someone’s team,” As the drip network says. Investors also get rewards for referring someone and for new parties if they have some required amount of tokens in their wallets. People have a chance to earn some rewards from the referred investors, but there is a limit to it, a maximum of fifteen. But all these fifteen investors need to have a minimum of BR34P tokens.
Investors get the chance to compound the initial investment, known as hydrating, in the ecosystem of drip networks. Hydrating requires a 5% tax and not 10% after claiming rewards. If investors want to hydrate their rewards instead of claiming them, they could raise the principal amount of investment and, as a result, the daily reward.
There is another way in which you can receive rewards. That is the Reservoir. This acts as the pool of rewards for Drip’s liquidity pool. Investors provide liquidity to the DRIP/BNB pool and get a 10% share of the transaction tax. Liquidity providers get a 2% tax, the BNB/DRIP liquidity pool locks 3%, and the reservoir pool locks 5%.
Along with that, if you swap BNB/DRIP, there is a fee of 1%. This fee is distributed among the providers who provide liquidity to the reservoir pool. There is a whale tax as well to curb the holders from reducing the DRIP price too much.
How Can You Mint These Drips?
When someone purchases DRIP on the SAWP platform, they automatically join the DRIP teams. After depositing the drips in the contract, the users get 1% of what they have deposited every day. Users have the chance to increase their income with recurring deposits, team-based referrals, and by rolling their rewards.
Is There Security In This Network?
As we have mentioned earlier, drip is a Binance Smart Coin. BSC is quite secure as it uses a proof-of-stake mechanism. Every 24 hours, they select 21 validators for validating the transactions and maintaining the security of the blockchain. However, these validators need to stake a particular amount of BNB or Binance Coin for eligibility. The network itself does not list any contract audits.
Unlike other platforms, this one makes a promise to give back a particular percentage every day. The Faucet holds contracts that never get exhausted and can always provide the investor with the rewarded DRIP. On all DRIP transactions, there is a reward of 10%, and this excludes the purchases. When there is not enough DRIP in the tax pool to pay rewards, they mint new DRIPs to pay everyone their rewards. But this situation generally never arises, making this quite a secure one.