What is Drip Network (DRIP)
What is similar to a Drip Network (DRIP)?
Drip Network (DRIP) is the “1st daily ROI disinflationary marketplace in the world”, which provides daily returns on investment.
Its DRIP token is the BEP-20 token on the Binance smart chain (BSC), which promises traders a daily return of 1% on their investment of the required amount up to 365% on the principal.
The incentive is paid due to the result of a 10% tax on all transactions without exception.
For example, if you deposit Thousands of dollars into the Drip Network, you pay a 10% fee on the deposit and receive 1% on the remaining $900 for any period.
You in no way acquire back the main required amount, but you can acquire up to 365% of it in the option fee, in this case $3,285 (365%*$900). You will also be able to reinvest your fees and increase the largest possible payback.
But the limit is always 365% of a single investment, up to a limit of one 100,000 DRIP.
In its roadmap, Drip Network promises a cross-chain bridge to expand the project beyond the Binance Smart Chain and NFT rewards for investors who reach certain goals.
Who exactly are considered the founders of Drip Network?
Drip Network was launched in July 2021 by 2 unknown accounts named “Forex Shark” and “BB” and their “team”.
Virtually no other data about these people is available, for this reason, traders should be very cautious about a possible tug of war.
Even though at the time of writing Drip has been around for more than six months, samples similar to SQUID indicate that traders need to be very careful about investing in plans with large commitments, abandoned by unknown accounts.
What makes Drip Network unique?
Drip Network applies a different aspect than other reflected tokens promising disinflationary dynamics, which makes it a fascinating example. The 3 key nuances of Drip Network are the daily fees, the referral concept, and the compounding system.
Traders can either purchase DRIP under a “fountain contract” on the website, exempt from the 10 percent tax in the deposit or get it from Pancake swap and pay the fee.
Equally as previously told, traders lose the necessary amount of their contribution, but acquire daily fees in the amount of 1% from the “faucet”. Drip Network claims that deposits to the “Crane” go to a burned location, which creates DRIP disinflationary.
However, the protocol does not note whether the whole DRIP deposited or only a fraction of it is burned.
To increase the result in Faucet, traders must use a referral code given by someone else – “join someone else’s team”, as well as manifested by Drip.
Traders have all chances to acquire referral fees from the again involved persons, in case they have a specific number of BR34P tokens in their wallets.
You will be able to acquire incentives from a maximum of fifteen engaged traders, any one of which must meet the lowest threshold of BR34P tokens.
Traders also have a chance to increase their initial investment, what is called “hydration” in the Drip ecosystem.
In the presence of hydration, a 5% fee is charged instead of a 10% tax when fees are received.
If traders opt for hydration instead of fee extraction, they increase their key investments and, accordingly, their daily incentives.
Another single method of retribution extraction is “Reservoir”, which implies Drip liquidity pooling.
Traders have all chances to provide high liquidity in the DRIP/BNB pooling and get a part from the 10% tax in the transaction.
2% of this tax goes to the general liquidity providers, 3% to the DRIP/BNB liquidity pool, and 5% to the tank pool.
In addition, there is a special commission in the amount of 1% in the presence of DRIP/BNB exchange, which is shared among the liquidity providers in the reserve pool.
There is also a fee for whales, which does not allow large holders to reduce the value of DRIP very much. For example, if a DRIP depositor wishes to realize more than ten percent of a single prescription size, he will have to pay a fifty percent fee on his transaction.
How many Drip Network (DRIP) coins are in circulation?
DRIP has a total supply of 1 million. The team does not specify how the liquidity was secured. However, according to Bscscan, the largest holder is the Faucet contract with 620,000 DRIPs.
How is the Drip network secured?
DRIP is a BEP-20 token on the Binance smart chain (BSC).
The BSC is secured using a proof-of-stake (PoS) consensus mechanism. Every 24 hours, 21 validators are elected to validate transactions and maintain the security of the blockchain.
To be eligible for election, these validators must deposit a certain number of Binance Coin (BNB) coins on Binance.
Drip Network does not list smart contract validations.
Where can I buy Drip Network (DRIP)?
DRIP can be purchased on Pancake swap (V2).
If you want to learn more about how to start buying cryptocurrencies, you can read our guide.
What is Drip Network (DRIP)’s daily trading volume?
In the last 24 hours, Drip Network (DRIP) traded volume was $17,697.75, up 439.80% from one day ago, indicating a recent increase in market activity.
What is the all-time high for Drip Network (DRIP)?
The highest price paid for Drip Network (DRIP) is $173.86 which was recorded on January 28, 2022 (almost 2 years). Comparatively, the current price is -100.00% below the historically high price.
What is the all-time low for Drip Network (DRIP)?
The lowest price paid for Drip Network (DRIP) is $0.01103881 which was recorded on December 07, 2023 (21 days). Comparatively, the current price is 159.20% above the historical low.
What is Drip Network (DRIP)’s fully diluted valuation?
The fully diluted valuation (FDV) of Drip Network (DRIP) is $28,450.17. This is a statistical representation of the maximum market value assuming the maximum number of 1 million DRIP tokens in circulation today. Depending on how the DRIP token issuance schedule works out, it could be several years before FDV is realized.
How does Drip Network’s price performance compare to its peers?
With a price increase of 5.00% over the past 7 days, Drip Network (DRIP) is outperforming the global cryptocurrency market, up 1.10%, and outperforming peers BNB Chain Ecosystem Cryptocurrencies, up 0.00%.