Drip Network Price

What Is Drip Network (DRIP)?

DRIP (BEP-20) is the official token of Drip Network, a deflationary daily return-on-investment (ROI) platform that promises 1% daily ROI. DRIP is designed to maintain its value through deflationary measures.

By depositing DRIP into Drip Network's Faucet contract, you can receive a consistent 1% daily return (up to 365% of the initial principal amount) over time. It works like a cryptocurrency faucet, which dispenses tokens to users upon request. DRIP rewards are derived from a 10% tax on all drip transactions, except for purchases from DRIP Network's Swap page.

You can also become a liquidity provider for Drip Network by adding BNB to the Reservoir contract to help lock liquidity in the DRIP-BNB liquidity pool. Doing so earns you unlimited rewards from various dividend streams, and income from exchange fees.

Drip Network Price

DRIP started trading at $27.47 on Dec 8, 2021, rose to $54.67 on Dec 14 and surged to $74.59 by Dec 18. DRIP’s price fell shortly after to a support level around $55, but quickly rallied again to hit $88.90 on Jan 2, 2022. Its price dipped back to the support level on Jan 10 but soared just days later, climbing to an all-time high (ATH) of $173.86 on Jan 28.

Even though 2022 was when DRIP reached its ATH, it eventually proved to be a year of loss for Drip Network. After dancing around a new support level of $140 in February, DRIP faced a gradual descent to below $5 by July. The Drip Network’s price rose slightly from August to September, and traded between $6–$9. However, by late October its value dropped below $5, continuing to decline to below $1 by the end of the year.

DRIP's downward trend didn't stop in 2023, falling under $0.50 by February.

What Is DRIP Used For?

DRIP is a reward token earned by staking it in the Drip Network’s Faucet. To make a deposit in the Faucet staking smart contract, you must join via a team's referral link, or by manually adding their wallet address into the Buddy Referral system. A minimum of 10 DRIP is required for staking. Users must also hold BR34P tokens to receive referral rewards.

Earnings can be compounded through a process called Hydrating, with the compounding transactions charged a 5% tax instead of the 10% tax on other transactions.

The Drip Network also has a decentralized exchange (DEX) called Fountain, which allows users to trade DRIP and BNB on the network.

DRIP Tokenomics

The max and total supply of DRIP tokens is 1 million.

DRIP remains deflationary through two measures:

1. DRIP tokens deposited into the Faucet are burned.
2. Out of the 10% tax for each transaction, 3% DRIP is permanently locked in the liquidity pool via the Reservoir contract.
   
   The system is also kept sustainable through the use of whale tax on withdrawals to deter whales from selling all their DRIP tokens, which would result in a drop in the Drip Network price. The tax is incremental, increasing with the percentage of DRIP tokens sold. If more than 1% of DRIP tokens are sold, a 5% tax will be implemented, and if over 10% are sold, a 50% tax will be enforced.

Who Is the Founder of Drip Network?

In July 2021, Drip Network was introduced by a team led by two anonymous accounts known as Forex Shark and BB. Drip Network has been accused of being a closed-loop Ponzi scheme, in which the early subscribers profit from the income generated by the new members.

We advise caution and thorough research if you are interested in this project or coin.

How to Store DRIP

You can store DRIP tokens in any BEP-20 compatible wallet, such as Trust Wallet, Binance Chain Wallet or MetaMask.