DRIP

Halal Rating :
Uncomfortable
Contract: 0xB8A914A00664e9361eaE187468EfF94905dfbC15
Last Price $0.0074 Last updated:
Rank 4539
1D Change -22.71 %
Market Cap -
Circulating supply 0
Maximum supply 100,000,000

Crypto Overview

Categories
  • Ethereum Ecosystem

Overview

DRIP Network is a DeFi protocol launched in 2021 on the Binance Smart Chain. The project advertises itself as a 'low-risk' investment platform that provides daily returns through a tax-based tokenomics system.

Purpose and Utility

The intended purpose of DRIP is to serve as a deflationary token within an ecosystem that includes:

  1. A 'Faucet' contract that claims to provide 1% daily returns through tax redistribution
  2. A DEX called 'The Fountain' for DRIP/BUSD trading
  3. The 'Reservoir' - a platform for staking DRIP-BNB LP tokens

Business Model Analysis

The core mechanism relies on a 10% tax on all transactions, which is redistributed to token holders who participate in the 'Faucet' system. Users must acquire DRIP tokens and 'deposit' them into the Faucet contract to receive rewards.

Real-World Adoption

The protocol has seen significant usage since launch, with over 100,000 unique wallet addresses participating in the ecosystem. However, the primary utility remains focused on the internal reward system rather than external applications.

Development Activity

While the core contracts remain largely unchanged since launch, the team has maintained regular updates to the platform's frontend and has announced plans for additional features.

Token Distribution

Initial token distribution included allocations to the development team and early investors, with specific vesting schedules. The precise percentage of founder holdings is not publicly disclosed.

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