REVIEW THE WHITEPAPER HERE!
See that above? I highly recommend you read it. It pretty much explains everything I’m about to outline here but, in more detail.
For Drip to be sustainable for the long term, certain rules and taxes have been implemented. Without them, this would just be a Ponzi and there would have to be a rug pull rather quickly. Since Drip launched a few months ago, other folks have seen how well it works and have attempted to copy it for their systems. I won’t name any of them, because I, frankly, don’t trust them and wouldn’t want to send you there only to lose your money. Honestly, I’m still working on my trust issues with Drip, only because I haven’t gotten my first Lambo yet. 😎 I am a Drip Maxi, though. I am going to ride it out. Do or die. Lambo or not. I digress.
So, let’s take a quick look at some things you should know.
- You do NOT get your principal back. Once you deposit, those tokens are “burned”. This helps keep the supply from over-saturating.
- Technically, you earn back your initial deposit after 100 days at 1% per day. Keep in mind, I’m talking about your DRIP deposit, not the dollar amount that it cost you to make your initial deposit. So, if you buy 1 Drip (the minimum purchase, by the way), it will take you 100 days to earn back that 1 Drip. As explained in my earlier post, the dollar value of a Drip fluctuates. Once you’ve earned that token back, it could be worth more or less.
- The maximum DRIP payout is 100,000.
- The maximum you can claim is also 100,000 DRIP.
Let’s take a look at the dashboard above. The amount Available represents how much you can currently Hydrate or Claim. (Hydrate = Compound) The Deposits is the amount on which you are currently earning 1% per day. Claimed is how much you’ve withdrawn to your wallet (more on this in a moment). Max Payout is the total amount you can earn based on your current Deposits.
Referral Rewards is self explanatory – it’s how much you’ve earned from anyone you’ve referred that has made a deposit. The breakdown of how much you earn is in the Whitepaper mentioned at the top of this article. Team breaks down into how many people (or wallets, to be more exact) you’ve referred and the right number is how many your referred have referred – make sense?
Ok, let’s go back to the Claimed and Deposits for a moment. You have to manually Hydrate (unless you’ve found one of the bots available for auto-hydrating). When you do Hydrate it is Claimed first then Re-deposited back into your account. There are taxes involved in every transaction. Hydrating is only 5% (we’ll talk about taxes shortly). So, you’ll be charged a 5% tax when you Hydrate and the remaining amount goes into your Claimed column first, then deposited. I hope I didn’t lose you there. The bottom line is that your Claimed column will grow every time you Hydrate.
Your Max Payout is the current total amount, in Drip, that you can earn, based on your current deposits. When you hydrate and your deposits grows, so will the Max Payout. Essentially, if you didn’t do any more hydrating and just claimed every day, your Max Payout would be reached 365 days from the last deposit (365%, the maximum interest earned).
Let’s talk Taxes
It’s a dirty word. Nobody likes it. I, personally, wish they would call it something else, like what it really is, a fee. Taxes are charged on just about every transaction. These “fees” are used towards the sustainability of the project, as well as referral awards. I talked about Taxes in my last article. So, I’m going to copy and paste that information here.
Here are a list of ways DRIP funds its program.
10% tax:
- Sell
- Buy (outside of the Fountain)
- Depositing or Staking
- Transferring between wallets
- Airdrops
- Moving between ledgers
- Sending
- Claiming (withdrawing)
If you buy from the Fountain, the tax is waived.
Hydrating, otherwise known as compounding, is taxed at 5%.
Let’s not forget about the Whale Tax. These are the taxes on withdrawals exceeding USD$1M and are added on to the fees listed above.
- >= 1M = 5%
- >= 2m = 10%
- >= 3M = 15%
- >= 4M = 20%
- >= 5M = 25%
- >= 6M = 30%
- >= 7M = 35%
- >= 8M = 40%
- >= 9M = 45%
- >= 10M = 50%
This tax also goes into funding the DRIP system, and keeps the huge withdrawals from selling off the system and cratering the price. It helps achieve price stability.
Conclusion
All of the limits, rules and taxes mentioned in this article are what helps the Drip Fountain keep going. It allows everyone to keep earning their tokens, in the hopes that, in the future, when the limits are reached, the value of the token helps obtain that ever-elusive Lambo!
If you’re interested in joining, I’d really appreciate you using my Buddy Address.
DRIP FAUCET (Click on “Buddy Detected): https://drip.community/faucet?buddy=0x7070063D1C8819CF7Cca432CBc83bF2F1a9477E7
Or go to https://drip.community/faucet and enter by Buddy Address: 0x7070063D1C8819CF7Cca432CBc83bF2F1a9477E7
Disclaimer
Nothing in this website is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. The website may contain affiliate links.