There are thousands of essays and blogs on the net that explain what DRIP is; this is not one of them. This essay will concentrate on a strategy that tries to balance short-term and long-term wallet development while taking use of the contract’s present referral terms.
If you’re new to DRIP and the preceding paragraph makes no sense, see the bottom of this post for instructions on how to get started or read this post in the link.
On January 9th, I began DRIP with the expectation of becoming a solo-dripper. I want to compound daily for the first 90 days, then switch to an alternate hydrate/claim schedule to take advantage of part of the gains while continuing to build my overall contributions. In addition, I want to make bi-monthly-ish extra payments depending on my budget for the first 90 days. These additive deposits prompted me to inquire, “How can I optimize the value of these deposits in relation to my entire deposits?” The solution (at least in my case) is to implement a simple multi-wallet method.
I have two wallets, one for the ‘parent’ wallet and one for the ‘child’ wallet; I first filled my parent wallet with some DRIP and enough (2.2) BR34P tokens to capture a single downline (e.g. my child wallet). I put money into my child’s wallet on a regular basis (for now, at least). I used this to recuperate part of my round-robin rewards system reinvestments in the kid. (I know it’s a minor optimization early on, but I appreciate that it’ll continue to pay dividends as my kid account grows on each hydrate as well.)
If you don’t understand how the round-robin rewards system works, I highly recommend reading the DRIP white paper, but here are the key points:
1. If your parent wallet is qualified (that is, it has a positive net deposit value AND enough BR34P tokens for your downlines), you will get 10% of your downline’s deposits when it is your time on the round-robin cycle.
2. The round-robin cycle proceeds “up” the network from your depositing wallet. Here’s an example of a wallets chain’s hypothetical sequence of events:
a. You put $10 in your ‘kid’ wallet, and your ‘parent’ wallet is the friend. The parent wallet receives 10% of 10 drips, or 1 drip as a reward (this will appear in the ‘Indirect’ area of your Parent’s Faucet’s awarded section).
b. The next day, you rehydrate your child’s wallet. Your parent’s wallet pal [provided they are eligible] will get 5% of the 0.1 Drip compound you just created. (Note: I’m simplifying things here; things get more difficult if the wallet receiving the incentive is a team wallet, but the pattern holds regardless of the ‘kind’ of upline.)
b. You hydrate again the following day. Assume the parent’s wallet buddy is truly linked to the Dev-wallet (aka the top of the chain) – the Dev wallet gets your prize on that day.
f. You hydrate again the next day. Because the Dev wallet was the last round-robin recipient, it will recommence at your immediate upline wallet, which implies your ‘parent’ wallet will get the prize that day.
Are you still with me? So, in my plan, I want to get the most out of my additive deposits. In essence, I want to ‘time’ my contribution such that my parent wallet is the next in line to collect the incentive. To achieve this, you’ll need to conduct some monitoring and verification using some basic spreadsheet tracking or by engaging with the contract proxy, but after a few days, you’ll grasp the timing. Here’s how I do it (I use both techniques since I’m paranoid):
The spreadsheet is a simple method.
1. If you haven’t deposited into your kid wallet yet, designate the day as ‘Upline 1’ when you do. After depositing in your kid wallet, you should notice your ‘Rewards’ increase on your Parent wallet’s Faucet page.
An illustration of my Child wallet address interacting with the user’s function
4. Examine the’ref claim pos’ value. This is the number of your reward’s LAST upline level. For example, in my snapshot, my parent wallet (level 1) has just received the payout for my most recent compound.
5. Keep track of this value AFTER each compound you do, and you’ll soon discover that when ref claim pos = 0, the next transaction you make will go to your parent wallet.
Extra Points: If the drip.community site ever goes down, you can always use the contract proxy to accomplish things like claim, roll, deposit, and so forth. To do so, go to the ‘Write as Proxy’ option, link your wallet, and experiment with the various techniques. This is certainly a subject for another essay, so I’ll defer more investigation for the time being. However, if you’re technically inclined, you’re probably already looking into this.
This strategy allowed me to record my first and second deposits on my kid wallet as a reward on my parent wallet. Since these payments were (about) 15 and 2 drip, I’ve ‘earned’ an extra 1.7 DRIP as rewards straight to my parent wallet that I would’ve otherwise lost to system taxes. So far, I’ve earned 0.016 DRIP on my compounds. If I had just transferred this all to my original parent wallet, my net deposit would have been 1.716 DRIP less. In one year, assuming no further contributions and disregarding any lesser compounding returns, this will increase my net deposits by +12.1 DRIP (which, I expect to be larger considering these are my numbers after 2 deposits)
This method, in my opinion, works effectively if you intend to deposit into DRIP on a regular basis for an extended length of time. It implies you’ll have to be okay with the extra gas prices (because this technique will double your gas expenditures) AND you’re willing to part with (at the time of writing) 5 DRIP worth of funds to get the BR34P in order to reap the rewards. The statistics work in your advantage if you have an ongoing investing plan (e.g., purchasing and depositing additional DRIP over time AND plenty of compounding in the future). If you just make a single investment and then compound as a solo-dripper, this approach will generate you less money over time.
If you found this useful, that’s fantastic; I’m pleased I could serve the community. I won’t say no if you feel compelled to send me some DRIP. 0xF344bf4707fEA79a4F4760C8024B4a40332A4162 is my Wallet/Buddy ID.
How to Begin
1. Visit https://drip.community/fountain and convert BNB to DRIP.
— If you’re having difficulties finding BNB, go read this post; it has a wonderful step-by-step tutorial on how I do it.
2. Next, go to https://drip.community/faucet and scroll down to Get a Buddy.
3. In the Referral area, insert a Buddy address. Consider adding my address for your Buddy: 0xF344bf4707fEA79a4F4760C8024B4a40332A4162 (If you use the URL above, you may click the “Buddy Detected” button to go there.
4. Return to Deposit and make at least one DRIP deposit (Ensure you have enough BNB to pay for the gas fees.)
5. You have DRIP set up. Prepare to get 1% every day!
I am a member of the SanelCrypto team. We are a warm and helpful worldwide community of DRIP fans. We talk in our own private Telegram channel, where we discuss DRIP ideas, tactics, breaking news, and other information. Please join the SanelCrypto team (by getting into DRIP and using my Buddy address above) and then go over to the SanelCrypto Telegram Gateway to join the chat.
Disclaimer: Nothing in this post should be interpreted as financial advice. Neither the author nor the publisher accepts responsibility or liability for any investments, earnings, or losses made as a consequence of this material. Affiliate links may be included in this post. Always do your own research and be careful while out there.