Or in other words: How to claim your first daily reward of 1%. So pretty much 24 hours after my initial deposit, my reward is ready to be claimed. Or, as we like to increase our rewards going forward, we will not claim, we will re-compound the profit to increase our deposit and get a slightly higher reward in the next 24 hours. Ready?
How to compound
The process is pretty easy and straight forward. Let me show you. As a first step go to your Faucet site and connect your wallet if not done yet. The dashboard shows you at the top left corner how many Drips are ready to be claimed. In my case I earned 0.129 tokens on the first day. In USD this is 1.27 USD. Remember my article here, where I stated that my initial investment was about 100 USD? Bingo, roughly 1% of reward. Not bad, huh?
Now lets re-compound our earned tokens by clicking on the “Hydrate (compound)” button on the right hand side of the faucet side. Your wallet will ask you to confirm the transaction, approve that, wait a few second until you see this screen:
Congrats, you compounded your reward. Our deposit increased and the reward will be calculated on the increased amount.
And that is it already. This should be your daily (or every other day) routine as Drip community member. And passive income earner. Lets increase you investment and earnings going forward.
As Drip supports a referral system where you can earn from your downline, your team. In order to receive these referral rewards, you must hold BR34P tokens in your wallet. Just in your wallet, not staked or deposited somewhere.
Depending on the size and structure of your team, you need a certain amount of BR34P tokens. The bigger your team, the more tokens you need to own. Here is the requirements from the whitepaper:
BR34P token requirements
Examples
Lets assume you have a team of 5 members. One of your members referred another colleague. So from your perspective you got 2 Levels and would need then 3 BR34P tokens to be eligible for the rewards from both levels. Pretty straight forward, no?
Timing is crucial here: If you don’t own the required number of tokens by the time one of your team members make a deposit or re-compounds, you are not eligible for the reward. So make sure you have them ready when planning on building a team.
Where to get the BR34P token
You can buy the BR34P token as any other token on Pancakeswap. Just make sure you enter the correct contract number of BR34P into the system when buying. Checking CoinMarketCap this is 0xa86d305a36cdb815af991834b46ad3d7fbb38523. Please verify yourself that your are buying the correct token.
Yes, I joined finally the Drip community and bought my first tokens. Why now?
Introduction
First lets start of with what Drip actually is. As you are reading the article I assume you are either familiar with Drip or you at least heard about it. Either as life changing money maker providing a 1% daily return or as scam and ponzi-scheme where you loose all your money.
So in other words: You either hate or love it. As always there is not only a black and white view, there is much more to it.
Captures value by being scarce, deflationary, censorship resistance and being built on a robust decentralized blockchain
Got its own little exchange under the “swap” tab waiving buy tax
Deposited in the faucet will provide a consistent 1% daily return
Liquidity provider options by providing BNB
10% on all transactions
Referral system to manage your team (eg. like aidrops) and earn from your downline
BR34P token required to earn from your downline
So the heart of the system is the 1% daily return, which can be claimed or hydrated (compounded). This gives huge returns over time due to the compounding effect. That is exactly what I will start reporting about, like I did with HNW Raffinery. But more often. Promised.
Why did I buy now?
Well, looking at the price chart of the token it came down quite a lot. Drips all-time-high was at around 160USD. Today the price is below 10 USD. There seems to be some momentum coming back to the drip token as its price increase from 5 to 10 USD. Also I read about marketing campaigns that are getting started. Hence I thought the time is actually good to buy my initial investment.
How to start earning
So I started by buying some Drip tokens on the Fountain Swap. 10.65 to be precise, remember the 10% tax on all transactions. So around 100USD deposited at current price level. Just for the records.
Get a Buddy: As I read from so many sources about Drip in the meantime I didn’t want to select a single buddy, but ignore all the others who provided valuable content. That would be unfair. So I decided to use the overall dev wallet as buddy to support further development and marketing of the network and community and support everyone with that. (Does anyone know if this has any negative impact one way or the other? I couldn’t find anything related to that).
Then I deposited the 10 tokens in the faucet. Now it is time to wait and claim my reward tomorrow. Or the day after. Depending on the fees I pay… but hey, I am ready to make millions.
Remember my article back in May? When the crypto world was still in paradise. A few days later the Luna crash occured. the rest is history.
So time to review how my investment into the HNW refinery is doing. Lets recap quickly: I bought 100 tokens at 0.37 for a total of 37.55 USD. Removing the buy tax costs I ended up with 95 tokens which I deposited into the refinery. What happened since then?
Well, as you can imagine the token price of HNW is not where it used to be anymore. Similar as all the alt-coins the price of the token decreased drastically. Not as bad as some alt-coins which are down 99%, but it is down 90%. Checking the dashboard this morning the prices is at 0.039 USD.
How money tokens do I have? Remember, the refinery pays between 0.8 and 1.2% daily rewards.As I didn’t buy any xSK tokens (yet) I got 0.8%. I didn’t claim on a daily basis given the fee costs, but claimed regularly. So how does my dashboard look like?
As you can see my amount of tokens increase quite a bit: From 95 to over 700 tokens. Of course, given the price reduction of 90%, and a token increase of around 700%, still gives a loss overall. I invested 37.50 USD, the investment is currently 27.59 USD worth.
What next? Well, given the increase of the tokens with pretty much no effort, just pressing the button every couple of days, I will definitely continue growing my tokens. Should the overall value of the crypto market increase in the coming months then I expect to be in the profit zone pretty soon.
If you like to join the journey, please feel free to use my address as wingman: 0xb3C253D80578f569cFd4fe2E916EDbF01B384577
If you need guidance on how to be part of the refinery, please have a look at my previous article. There is a step-by-step tutorial in there.
Any feedback or questions? Always welcome and appreciated.
As mentioned in one of my other posts a while ago, I will start to explore some high risk DeFi projects going forward. Here is another journey I started only today.
Have you ever heard about Drip? Pretty sure you did: Invest into Drip, buy some tokens, deposit them and you will be rewarded with 1% on a daily basis. You either re-invest this amount or you take profits and claim it. Drip also used a referral system, where you can profit from your ‘team’ which led to quite a lot of Drip articles on Medium and everywhere.
I have to admit, I never used Drip myself. Looking at the current price chart of it, I decided to not choose Drip for my experiment (or better experience), but use one of the new similar and hopefully improved systems instead: HNW refinery. Let me take you on my journey. Keep in mind, I am just learning about this system together with you. Should we get started?
Overview
The team behind HNW is, as per their Whitepaper, a “team of professionals who want to change the crypto space through hard work, ingenuity, and trust.” And this is intended to be achieved by community building the best offers to clients and investors. It is mentioned a several places that the teams mission and number on priority is to keep the investors money safe. That is a good starting point I would say.
HNW is collaborating with many so called alliance partners like Sidekick Finance, Crypto-Logic, Crypto-Hunters, etc. and offers various services in the area of NFT integration, community building, fund raising, anti-bot & other safe launch measures, smart contract consultancy and much more which adds utility to their tokens.
The foundation of the whole platform are 3 tokens:
HFUEL: To keep it short, this is actually the only token you need to start earning with the refinery. You deposit HFUEL tokens, which will allow you to earn rewards from your deposit.
HNW (xHNW): Mainly used for team leaders, or wingmen, as they are called here. Staking of these tokens is required to increase the maximum payout of your wallet. See picture below.
Sidekick (xSK): Staking of xSK can increase your daily reward from 0.8% up to 1.2%. See picture below too.
Tutorial – how to get started
Lets keep this article a bit shorter then intended first, a follow-up is planned, lets have a look at the steps I took to get started. Feel free to use it as tutorial for yourself too.
I bought 100 HFUEL as a starting point and received 95 tokens in my wallet. There is a tax of 5% on any buy, sell, deposit, transfer transactions. I then deposited the 95 tokens in the refinery and ended up with 90 HFUELs. So in other words there is a 10% tax to start with the refinery. Keep that in mind if you like to deposit a certain amount of tokens.
Prerequisite:
Metamask using the Binance Smart Chain
Some BNB (or BUSD) to buy HFUEL tokens and then also some BNB’s to pay the gas fees obviously
On the left side click on HFUEL to open the menu and then click on “Buy”. This directs you to PancakeSwap and you can add directly the HFUEL token to the token list to swap. Just accept adding the token to your list.
Swap your BNB or BUSD for HFUEL tokens.
Head back to the HNW site and click on “Refinery” and then on “Pipeline”.
As a first step here you have to select your “wingman”. This is your team leader in the system. Either do your own research for your preferred wingman or feel free to add my address to support my journey in this area: 0xb3C253D80578f569cFd4fe2E916EDbF01B384577. Make sure to confirm the transaction.
Then it is time to deposit the HFUEL tokens. Either hit “Max” or enter the number of HFUEL tokens you like to deposit. Once the number is added, click on “Approve” and then “Deposit”.
As soon as your deposit is done, you will see your number in the dashboard in the section “Available” starts increasing.
Claim or refuel?
Once you deposited your HFUELs in the refinery you start earning rewards. As mentioned, depending on your stake of xSK between 0.8 and 1.2% daily. You can claim (5% tax) these and sell (15% tax) your tokens if you like.
Probably the better option at the beginning, and this is where the power of compound interest will show its strengths, is to refuel your earnings. So you will end up not only earning on your initially deposited tokens, but in addition also on your reward.
Lets assume you deposited 100 tokens and you earn 1% (for simplicity) you will earn 1 token after a day. If you refuel, you will earn 1% on 101 tokens the next day, which is 1.01 tokens. The next day 1% on 102.1 tokens, and so on. If you do your math, this sums up nicely for you.
And now?
So is this the new Drip? Before jumping to conclusions yet, lets explore the system further, lets see how the deposit growths, lets refuel to gain more. And lets have a follow-up to see if this investments was worth it.
Again my wingman address, if you like to use it: 0xb3C253D80578f569cFd4fe2E916EDbF01B384577
