As you know I am sharing my experiences in the crypto world and one of my favorite projects on the Binance Smart Chain (BSC) is Drip.Community !
I invested in the early days of this project and I have written an article about it a couple of months ago.
https://medium.com/crypto-and-defi/the-drip-network-5bbf0a5c8668
But what nice features this project has. In the basis it is very simple and so is the UI.
The features
The project is about the DRIP token and there are basically two options to earn DRIP:
Staking, which is called FAUCET on the platform
Providing Liquidity, which is called RESERVOIR on the platform
But first I will need some DRIP, so let’s buy some DRIP.
Buying DRIP
Before you can stake DRIP in the faucet and earn 1% you have to buy DRIP. The recommended platform where to buy that DRIP is under the SWAP menu and this is the Fountain contract. This gives the lowest prices and the platform can earn the initial 10% tax on it. It will become clear why they earn the 10% tax and what it is used for.
Connect your Wallet (In my case MetaMask)
Fill in the amount of DRIP you want to buy and it will give you an estimate how much DRIP you will get in return. Hit “BUY”.
When you have a transaction error you could set the “Slippage tolerance” to 1% (it is under the bar where you fill in the amount). Increase this number when it fails.
You can also use external swapping projects like PancakeSwap though, but the price of a DRIP token will be higher on those platforms.
After you have bought some DRIP you can stake it to earn more.
Note: the real token address of DRIP is https://bscscan.com/token/0x20f663cea80face82acdfa3aae6862d246ce0333
Staking DRIP (FAUCET)
To stake the DRIP you bought, you go to the “FAUCET” tab and you will see the following screen.
First you need to need to fill in your buddy in the buddy section. This makes you part of a team and the teamlead can airdrop you more DRIP. Just copy-paste my buddy address if you want to be part of my team: 0x085e46071e7dAb2964be9Ccf44354Df600dbDC4c and hit UPDATE.
Then in the deposit section enter the amount of DRIP you want to deposit (the amount must be at least 1 DRIP!) and hit DEPOSIT.
After you have entered the buddy you can hit “DEPOSIT”
When you have deposited your DRIP you will earn 1% DRIP daily. The documentation says that, unlike other platforms, the contract cannot drain. These rewards are paid from the 10% tax paid at transactions.(10% for buying and selling drip, and 5% when compounding/hydrating) So that’s the reason you should buy the DRIP from their platform. In case there is not enough balance within this pool, extra DRIPS will be minted (created). This will impact the price of course.
On the FAUCET page you will see the next overview.
FAUCET Overview
Available: The DRIP that is available to withdraw
Deposits: The DRIP deposits you made
Claimed: The amount of DRIP you withdrew/claimed already
Rewarded: The DRIP rewards you received from your referrals (direct and indirect)
Max Payout: The max payout. The max payout indicates when your earning stops (MaxPayout equals Claimed) Note: When you recompound the max payout will be higher and the time you can earn increases.
Team: The direct- and total number of referrals you have
Compounding
So how can you extend you earnings?
When you have deposited DRIP you will earn 1% DRIP each day. There are several options what you can do with these earned DRIP tokens:
HYDRATE
This is the compounding. In fact you re-invest the earned DRIP and only pay 5% tax i.s.o. the usual 10% tax when depositing DRIP. You will earn more DRIP when you do this.
CLAIM
You also have the possibility to withdraw your DRIP earnings. This is called “CLAIM”
So as already said, to be able to deposit you need to join a team (buddy).
Joining a team
You can even earn more DRIP by building a team. In fact you cannot deposit without filling in a buddy address. I would be delighted if you can join my team. There is also 1 extra condition and the condition is that you have to deposit at least 1.12 DRIP (the 10% tax included).
Just copy-paste my buddy address: 0x085e46071e7dAb2964be9Ccf44354Df600dbDC4c and hit UPDATE
or use this link: https://drip.community/faucet?buddy=0x085e46071e7dAb2964be9Ccf44354Df600dbDC4c
After your initial deposit you can shout out your own referral buddy address to your friends on the social media channels you use.
BR34P tokens
You will earn rewards for referrals based on your referral BUT also on the amount of BR34P held in your wallet. In fact you need to have these tokens, otherwise you will not receive referral earnings at all.
You can buy these tokens on PancakeSwap. Just be sure to use the correct token address and use V1 of PCS.
BR34P bsc address: 0xa86d305a36cdb815af991834b46ad3d7fbb38523
The more BR34P tokens you hold in your wallet the level or depth of the referrals is deeper. You will earn a 10% bonus of their net deposit (so actually 9%). The rewards are paid and deposited in your deposits. I have bought 5 BR34P tokens so I have 3 downlines.
Note: I discovered a whole new business and world of getting referrals. There are telegram groups that setup all kind of referral structures to earn more money.
Team Airdrops
The team has also a “Team Airdrop” feature and this makes it possible for a teamlead to sent DRIP tokens to your team (your referrals). This makes this project unique that has earnings sent both ways!
You can fill in the following fields for filtering. This selects the players you want to airdrop to.
Player: Just hit “Use my address” because you are doing the airdrop.
Campaign: Select the way you want to distribute the airdrop. You can choose to top the amount of players to sent to.
Minimum directs: The minimum number of referrals a player must have. If this is not relevant just choose “None”
Team depth: The depth of the team of the player
Minimum net deposits: The minimum number of DRIP the player has deposited
Budget: The number of DRIP you want to spent for the airdrop.
Note: This cannot be more than visible in the Available field.
After you have filled in all the filters and your budget you hit the RUN button. The platform will search for the players that are eligible for the airdrop and this can be seen in the Campaign Viewer. You see the address, the number of Direct referral the player has and the net deposits of the player.
When you are OK with this you can hit the SEND button to actually do the airdrop.
Note: For each player you have to pay a transaction fee, because each airdrop is a transaction on the BSC. This makes it a little annoying when you have a lot of players in the airdrop, because you need to approve each of your transaction. The Status field indicates when the drop is completed for that particular player.
Providing Liquidity
You can also be a liquidity provider and earn DRIP. Go to the RESERVOIR tab and you will see the following screen.
You can buy DRIP-BNB LP tokens (called DROPS) and you can deposit those LP tokens to earn more. You also have the option to withdraw or to compound your earnings to earn more.
I personally did not try this feature yet but you are free to do so of course.
Links
Short guideline:
Buy DRIP on website: https://drip.community/fountain
Note: I noticed that sometimes you get more $DRIP on PancakeSwap
Enter buddy: 0x085e46071e7dAb2964be9Ccf44354Df600dbDC4c
(That’s my team but you are free to join any team of course)
Deposit your DRIP (Note: Minimum of 1.12 DRIP required)
Start earning more $DRIP and Claim and/or Hydrate
Compounding sheet where you can calculate your earnings when compounding: https://dripfi.web.app/calculator/
Buying bR34P: https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xa86d305a36cdb815af991834b46ad3d7fbb38523
Drip contract: https://bscscan.com/token/0x20f663cea80face82acdfa3aae6862d246ce0333
Join my Telegram group and learn even more about Defi: https://t.me/crypto_and_defi