How I Lost It All… And Then Found DRIP
I never knew what getting into crypto was going to do for me. I started off like many others — I dabbled in Bitcoin and Ethereum, but it didn’t quench my thirst for more aggressive assets. In June of 2021, I stumbled into the realm of DAOs.
I first got into Olympus DAO just as it was starting to get popular. I started with $5k in Olympus at $300. I was making money hand over fist. Then I got involved with Daniele’s Wonderland and leverage on Abracadabra. It seemed like the leading DAOs had nowhere to go but to the moon. I had amassed well over $100,000 — more than I ever could have imagined.
And then the DAO Winter began — at first I thought it was just another dip that we were sure to return from.
In a span of two weeks Wonderland went from $4k to $3k… $3k to $2k… then $2k to $1k. They swore Wonderland was backed by the treasury at $1,000 but then we found out it was a manual process that wouldn’t be managed when they were sleeping… true story. And then they were attacked by whales. My entire position was liquidated during this attack well below the threshold. These protocols were never sustainable with the ridiculous amount of “money printing we all know too much now. Thankfully before my Olympus position went down 95%, I established a position in Chikn.farm — but more on that in another article. I lost SO much respect for this space — I so wanted to throw in the towel. But something inside told me that this would be the future of finance… how could I leave this behind?
I thought to myself “what is a time-tested crypto protocol I can park some of the money I saved?” After hours of researching through all the hoopla one can find on YouTube, I thought I had struck gold. The protocol was almost a year old. The taxation system is a year old (which in crypto terms is comparable to a decade). The community that rallies behind it was massive and still growing! But what was it and what is it all about?
DRIP is by far one of the most innovative and sustainable protocol I have seen.
DRIP offers a compoundable 1% return per day up to 365%. Now that doesn’t mean that you can’t add more into your DRIP Faucet deposit. You deposit, however, can never be removed. It is locked to help support the protocol. On top of that, there is a 5% deposit and sale tax for transactions of DRIP. This promotes people hodling their returns. So many other positive nuances of this protocol that I cannot cover all in this article but fear not — I will. However, I felt like I was in heaven.
If you were affected by the downfall of DAOs or any other numerous amounts of rug pulls, look no further. DRIP has the longevity to continue to pay out rewards well into the future. Follow me as I continue my journey through the DRIP community as well as other protocols that have me bok-ing and squealing. Don’t get it? Guess you’ll have to come back for more…
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DRIP Lightpaper https://www.docdroid.net/0i3RJTu/drip-lightpaper-pdf