Today I Join Drip Community

Disclaimer: I am not a financial advisor. The content for this weekly outlook is purely for educational/research purposes only and is merely based on my personal opinions.

Please note: There will be affiliate links in this article. But it will only benefit both of us. If you do not wish to take part under my affiliate links, please feel free to Google them separately. Cheers!

Truth to be told, I discovered Drip Community was through Medium articles from other writers, great content by the way! And because of the Medium algorithm, My homepage kept getting recommended to Drip related articles which naturally caught my attention. Since then, I have been speculating on Drip Community for quite some time now. And today I have finally participated in their project.

Why didn't join earlier?

This is because of my Defi guideline to avoid scams (Link). With so many influencers that kept promoting Drip, my first thought was it could be either a Ponzi or a Pyramid Scam. Hence, I decided to wait it out, give it a couple of months to see if Drip is really a scam.

Why I decided to join.

The first reason — Drip survived the apocalypse.

As we witness the crypto apocalypse, Drip surprised everyone by having a huge bullish run to the upside, even breaking to $100 per Drip. This really surprises me and also enticed me to dive deeper to know more about the projects.

The second reason — Pump and dump are impossible.

After reading and understanding the concept behind it, I also understand how Drip withstands the apocalypse. The protocol did it by “burning” investor initial capital. You see, in most of the projects out there, investors are able to withdraw their initial investment at any point in time. Although some projects might have a lock-up period, investors can still withdraw their initial investment within a few days.

This is where Drip is set apart from others, your initial investment is complete burned/gone, there is no way you can withdraw your investment. If an investor can’t withdraw their money, and when the apocalypse came. The investor cannot panic sell and withdraw any money. This is a genius way to protect the protocol and prevent dumping of the drip price.

The third reason — Sustainable APY

By now we should have learned some lessons from the DAOs disaster; if the APY is too high, means the project is probably dead. Drip advertise as 1% daily returns, with 365% APR. APY varies depending on how often you compound your money. Personally, 1% daily is considered to be medium-range returns and it can be a good thing, the protocol is able to sustain in the long run and provide real passive income.

How to join?

Step 1) Use the referral link ( Either mine or someone else)

Drip required a Buddy in order to start investing. But you have the freedom to choose who to be your buddy.

My referral link: drip.community/faucet?buddy=0x678EDFA56dc0D299f6ED58F0f095b14D2587aE86

Or you can copy and paste my buddy address in the “Get a buddy” section.

Buddy Address: 0x678EDFA56dc0D299f6ED58F0f095b14D2587aE86

Enter your buddy address in the left box. (As you can see, I already had a buddy).

Step 2) Buy at least 1 Drip from “Swap”

This project is in the Binance Smart Chain network(BSC), so get some BNB in your Metamask BSC network and swap for at least 1 drip. Drip is roughly worth around $150 USD at the time of this writing. So you need at least $160 USD to cover for Drip token + gas fees + all the necessary approval.

Buy Drip in the left box.

Step 3) Stake (deposit) your drip into the faucet.

After buying some drip tokens, head to the faucet and deposit your drip token.

Enter the amount of drip you wish to deposit in the blue box.

Last Step) Think about the compounding strategy.

This last part varies for every investor. Some like to compound daily and some like to compound once every 2 to 3 days. But always bear in mind the gas fee and tax every time you compound. Gas fees are relatively low for BSC, Tax is always 5% on your available reward.

If you are not sure what is the best way to compound, you can refer to this: https://drip-hydrate.com/ This website will help you calculate the best optimal interval to hydrate/compound your Drip.

EndNote

Always Do Your Own Research before investing in any projects. Honestly, there are too many Defi projects out there, you will never know which project might be the one that brings true passive income.

If you don't find a way to make money while you sleep, you will work until you die — Warren Buffett

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