Hello LBI'ers,
A dripping tap
Yesterday morning when I took a shower I noticed that the tap in the bathroom was dripping. Now, of course, that can always happen if you don't close it properly. But this time it turned out that something else was going on. Fortunately, my partner is very handy at those things and 15 minutes later our dripping tap was ready to close properly again. The dripping was fixed again! And that's how it should be. Right?
Now of course I don't put such a story here completely unconsciously, that's because I recently discovered a project thanks to 
DRIP COMMUNITY
And now you may be asking yourself, what is that? Don't worry, I'll try to explain that as good as I can below.
What is DRIP community?
DRIP is a project where you can generate passive income through smart contracts in DeFi. The DRIP FAUCET is a low-risk, high-yield contract that resembles a high-yielding deposit.
Now you are probably thinking how is that possible, or is it not possible at all? Don't worry! It is possible!
DRIP is built on the Binance Smart Chain, and DRIP can therefore also be bought with BNB.
1% interest a day!
The foundation of DRIP is that you receive 1% interest per day on your investment. You can choose to withdraw that amount every day or reinvest it (this is called “Hydrate”) for an interest-on-interest effect. By reinvesting you can achieve an annual interest of more than 3000% (transaction costs not included to keep it simple).
The payment of the 1% interest is in DRIP, so you can benefit from price increases (but also have the disadvantage of price decreases). The game of scarcity, deflation and the reward you get for holding the coin (HODL) push the price up. Also, only 9% of the coins are in circulation for trading. The remaining 91% is fixed, which in turn ensures good price stability.
An interview with Forex Shark, the founder of the DRIP project, can be viewed here via youtube
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HOW / WHAT / WHERE / WHO?
Anyone can do this! No matter how much money you can invest, really anyone can get rich with DRIP and generate passive income.
And how do you start? That is really very simple. Go to the website of DRIP COMMUNITY, make sure you have BNB in your Metamask wallet and buy your desired amount of DRIP via the “Swap” tab. Keep in mind that you pay a tax for almost every transaction on the DRIP platform. Except when you buy DRIP through their Swap. You don't pay tax on that. You can buy DRIP on PanCake Swap too buy you'll pay 10% tax if you do that. On the DRIP website you can buy tax free!
Let's assume you want to start building your passive income carefully with 1 DRIP, then buy 1.12 DRIP, because as soon as you make the deposit, you pay a tax!
A no-brainer is that you should of course always keep BNB in your wallet for the gas fees of the BSC.
Good you now have DRIP in your wallet. **BEFORE **you can make a Deposit now, you need a BUDDY. In other words, you have to join someone else's team. If you are interested in joining DRIP after reading this post, then in all posts you can find about DRIP you can find links for a buddy, but ... if you want to get in it would be nice if you would use
And yes, Ray receives a small reward for that, but once Ray grows big enough... you can be sure that you will also receive airdrops in DRIP from Ray. That is how it was set up, precisely to create equal opportunities for everyone. This is also clearly explained in the Medium post that I share later in this blog. This has everything to do with the Whale Tax!
You can thank me later Ray, I welcome every DRIP in my wallet with love
When you have entered your buddy where that is needed, you are also ready to make the deposit, and then the tap starts running. Automatically, you don't have to do anything for this.
It looks like this!
Deposits, Available, Claimed, Max Payout
So what you are dealing with now is your Deposits. That's not that hard. The amount of DRIP you bought with your BNB appears here. From the moment you have done that, a tap will slowly start to drip… and at Available you will see your DRIP dripping in!. 1% of your Deposits every day! If you did nothing, and just left your DRIP in your Available, the tap would be turned off as soon as you reached 365% of your Deposits. There would be no more DRIP. That's how the system is made.
But of course, there are built-in opportunities to earn more. You can increase your earnings in two ways! The first should be clear, you buy and deposit more DRIP. automatically, your MAX PAYOUT will now also increase. After all, you have deposited more, so the 365% on your deposit is automatically more!
The second way you can increase your bottom line earnings is one that will be well known to us at LBI. COMPOUND INTEREST!
Yup, you can also use this at DRIP. You have two choices, what you do with your daily DRIP.
- Hydrate
- Claim
If you choose Hydrate, your daily DRIP will be claimed and automatically credited to your Deposits. This will cost you a 5% tax!
If you choose Claim, the DRIP will go into your Metamask wallet, and you can sell it for BNB in the Swap tab. Keep in mind that a claim costs 10% tax!
Especially when your daily drip is not that high, as in my case, it is much wiser to choose to Hydrate. Not only do I pay less tax on this, but I also increase my MAX PAYOUT with it. And that's what we all ultimately want. As much as we can earn?
What you should keep in mind is that every time you choose Hydrate, this also counts as a CLAIM. So even if you don't get anything in your wallet, the number at CLAIM is increased. And that's important to keep an eye on. You can never get more than 365% of your deposit. If you often claim without increasing your deposit, your personal tap will run out, and it will stop dripping. Your game is then over!
How can you see this? The website already shows it very well, of course. You calculate 365% of your deposits and that is your Max Payout. The Max Payout minus your CLAIMED, that's what you have left!
If you only make a deposit once, don't claim anything and just wait for your tap to stop dripping, then after 1 year (1% per day) you will have your 365% profit. Regardless of the size of your investment. So if you have Hydrate you can do this for much longer and the only thing to keep in mind to keep playing this 'game' is that the number at Max Payout stays higher than the number under CLAIMED. As long as that's the case, you're safe enough!
IS THIS SUSTAINABLE? WILL THE FAUCET NOT EMPTY?
YES this is sustainable, No the tap does not run empty! The taxes that everyone pays ensure that the daily DRIP can always be paid out.
There are more things to say about this, but it goes very deep into the tax system, and as my time is a little more limited today, I'd like to direct those of you who are interested to this article on Medium, which explains exactly how the tax system works. And which also takes a closer look at the Whale Tax that you can face if you go on long enough, and grow big enough.
And growing bigger is what we are all after, starting small is no problem.
