Why Drip is about to hit 100,000 players and is on its way to 1 million
In hindsight, with some investments, it’s easy to understand why a company or product succeeded. Take Google for example. They created a new service with no competition and a gigantic moat. Residing in a growing industry (the Internet), Google has been a powerhouse consistently making incremental changes to improve its profitability, network, and monopoly. I should have put all my money in Google when it IPO’d. Looking back it was a no-brainer. But I didn’t.
In comparison to traditional markets, companies, and asset classes, crypto requires an abstract mind to invest in the space. The largest asset, Bitcoin, is hard for many people to understand because we have lived so long under the illusion that fiat money retains value. It’s challenging to imagine a competing store of value to the almighty greenback. At the same time, it doesn’t take a rocket scientist to understand costs are rising faster than our savings.
The sheer power of technology is amazing. Amazon can do what thousands of retailers used to do at a fraction of the cost with significantly fewer employees and provide a much better service. People used to read newspapers and make their hands dirty and have piles of them stacked up waiting to go to the trash. Having a physical newspaper subscription today should come with a complimentary supply of Geritol. We can think of examples of technology improving efficiency all day long if we want to.
Most crypto projects are dumpster fires. I’ve invested in a lot of them. Many are built on pure speculation, have devious creators, insane tokenomics, or such bad leadership that they can’t help themselves. Occasionally, a project comes along and captures people's attention and explodes in growth. And I’m not referring to a memecoin getting tweeted about or a project paying off YouTube creators to shill them to their audience. I’m referring to projects that are built on the concept of greed and fear- two of the biggest driving forces behind the actions we take.
Drip Network on the Binance Smart Chain is one of these projects. In less than one year, it has amassed nearly 100,000 players and is currently the 13th most popular Dapp (decentralized application). Drip lives in decentralized finance and can’t be purchased, sold, staked, or lent on any centralized exchanges. The game theory in Drip is an amazing concept. It’s a 100% community-driven project and offers referral incentives similar to a traditional MLM. However, unlike most MLMs, gains are not only reserved for the top 5%, and members are not required to buy and sell some inferior grade product.
If you aren’t familiar with Drip, the premise is that investor buys Drip tokens. They sign up under a buddy address and deposit their Drip into the Drip Faucet. Once Drip enters the Faucet it can not be withdrawn. Upon Faucet deposit, the investor is taxed 10% of their Drip (which is rewarded to the buddy who referred them). In return, the investor receives 1% daily returns until they get paid 365% of their initial deposit. For example, I purchase 100 Drip and deposit them into the Faucet and now have 90 Drip. Tomorrow, I will be rewarded 0.9 Drip.
Now comes the game theory. I can claim the 0.9 Drip and pay a 10% tax. Now I have 0.81 Drip and I can swap that and pay another 10% tax. Effectively, I am earning about 0.73 Drip per day if I take this route. Alternatively, I can compound my 0.9 Drip reward, pay a 5% tax, and now the Drip in my Faucet is 90.86 Drip. Tomorrow, I will earn slightly more Drip than today. However, I haven’t “banked” any of my funds and they are committed to the Faucet.
There is no set schedule, requirement, or forced actions in the Drip ecosystem. I can claim and collect one day and compound the next day. I can claim for 365 days in a row or I can compound 365 days in a row. I can build a team and get referral rewards that grow depending on how effective I am at recruiting and building a team out. Every player gets to decide and script their destiny. It gives investors something they don’t have in almost every other investment- control.
And the wildcard is the Drip price. I’ve been in Drip since June of last year and seen its price go up 400% and then drop 90%. Recently it went up 1000% and has retraced 80%. These gyrations add to the game theory and cause patterns of fear of loss and fear of missing out. As an investor, it’s a roller coaster, but it has continued paying out 1% per day as promised. For those who have a strategy, patience, and the right game theory it’s grossly profitable.
Here’s a summary of why I believe Drip has been so successful and will continue its ascent:
- The developer, Forex Shark, hasn’t deceived the community. Yes, there have been issues with some offshoots from Drip, but the platform has worked and paid out its 1% daily since inception. On April 22, it will celebrate its 1st anniversary.
- 1% daily payout is a huge incentive. I can make more in Drip in a year than I can make in a savings account in 100 years.
- The community drives growth. As the community gets larger, more people hear about the Drip opportunity and give it a try causing a positive feedback loop.
- The tokenomics and taxes improve sustainability and incentivize actions that are positive for the platform (depositing, compounding, building a team) and penalizes negative actions (claiming and selling).
- It’s easy to use. It can be operated on mobile or desktop and, because it is on Binance Smart Chain, the gas fees are extremely low.
- Forex Shark is continually trying out new ways of bringing value to the ecosystem and Drip token. This brings in even more new players.
- Investors are tired of rugpulls, whales dumping on them, and greedy developers issuing themselves large percentages of tokens. They are tired of the inflationary design of the majority of DeFi projects and want something that can provide them cash flow.
Why all the haters?
People question Drip’s sustainability, call it a Ponzi, a Pyramid, or worse names. Drip can function forever, but its price can move dramatically in either direction. Like every other investment, for the Drip price to move up, it requires more money coming into the platform than going out of it. When haters are reviewing anything, they know it’s always safest to be in the hater camp. Either you are wrong, and people on the other side have made a lot of money so they don’t care you were wrong. Or, you have an unlimited amount of time to be right. It’s far more conservative to be negative than to stick your neck out and positive.
Let’s draw a comparison to oceanfront property. If science is telling us that ocean levels will increase dramatically, why aren’t these haters writing about how everyone should sell off their oceanfront property? There’s far more money at risk in oceanfront property all over the world than there is in Drip. Or better yet, why don’t they write about the countless people throwing money away on the lottery or gambling in Vegas casinos?
When people invest in Drip they should know they are taking a risk. #1 it’s crypto. #2 it’s DeFi #3 it’s offering an insane return of 1% per day. In exchange for this risk, investors can make significant ROI. Will everyone make money on Drip? Absolutely not…but there are no investments where every investor will make money! And I will wager that wealth will be distributed far more evenly than certain big-name projects like Doge, Shiba, and other non-utility projects where whales repeatedly wipe out retail investors.
Thinking of trying Drip or joining a new team?
In December, I began a new team called “Team 100." The 100 refers to all of the team wallet’s Drip rewards being distributed 100% back to the team. So far, we have grown to 77 members and the Team 100 wallet is experiencing tremendous growth. If you are interested in being part of a team that gives to you, please read more about it here: Explosive Return Potential!!! Introducing ‘Team 100’ a new experiment in Drip built for You
If you are in the Drip hater army, feel free to share your opinion in the response section. If you are a Drip player and want to share your thoughts/experience/successes/insights/questions, please include those in the responses as well.
This article isn’t financial advice and I am not a financial advisor. It is strictly my opinion. Drip and Decentralized Finance are high-risk investments. I am someone who wants to maintain and grow my wealth so that I can provide a good livelihood for my family and myself. Do your own research before making any investments.
Contact me via Telegram: https://t.me/scottdebevic
Join the Drip Team 100 Telegram Group: https://t.me/+Lfp-WaccH30zNTNh
How to Join Team 100 and join the experiment
- Go to https://drip.community. Connect to your Metamask wallet. Be sure to be on the Binance Smart Chain for your network. If you need help adding Binance Smart Chain, How to use Binance Smart Chain on Iphone
2. You can swap your BNB for DRIP on the Swap page. Keep in mind that you need at least 1 DRIP to take part in the Faucet so you have to buy at least 1.12 DRIP.
3. Go to Faucet. Enter Buddy address: 0x056cE4d8C5632ba34C0572ff387053C37096057e
4. Deposit funds into the Faucet.