Translations: Dutch

What is DRIP?

DRIP is a project that is able to provide passive income through smart contracts in Defi. It was created on the Binance Smart Chain, and the DRIP Token can be bought with BEP20 BNB.

The bedrock of DRIP is the feature of paying 1% on your investment per day. You can either pull that amount out and receive your 1% return of the DRIP token per day, or you can “Hydrate” or recompound your earnings and compound the 1% against the new amount. …

Source: HEX Miner

In 2021 the ‘Miners’ have become extremely popular in CryptoLand. These Miners all take a deposit of a specific Crypto, and give the user a 3% daily return on their deposit in said Crypto. If one would cash out the 3% daily ROI, it would mean the Miner already starts making a profit after 33 days, and up to 1,095% per year. Please read on to learn what effect daily compounding of the ROI has (hint: it’s mindblowing!).

Although there were some predecessors, the craze really started with BNB Miner, which by the time of writing has been ‘producing’ BNB…

Cryptozoa member Sri M has been on a video-making tear!

Photo by Lê Minh from Pexels

Cryptozoa DRIP member Sri M has made what I think are the 3 Essential DRIP Videos. They are animated gems that give the basic information necessary to fully understand DRIP. The 3 videos cover the basics that most newcomers should know about prior to investing in DRIP. Let’s review the three, shall we?

The DRIP Network

An Introduction to the DRIP Network, how it works, the daily 1% interest, as well as its referral system.

Is DRIP a Ponzi?

Video explaining how DRIP functions, and debunks any idea that DRIP is a Ponzi, or Pyramid…

Step by Step Guide on How to Use a Defi Platform to Earn Passive Income

Photo by frank mckenna on Unsplash

I, like many others, dream of the day that I can comfortably live off my investments instead of relying on a 9–5 job. So when I first read about Drip Network and put a simple spreadsheet together to calculate the potential rewards, I couldn’t stop thinking about it. I remember walking to meet my friend for dinner afterwards with my mind fully consumed with what I just read about — so consumed that I accidentally walked into three different strangers along the way. So why…

Stablecoin minters come to the Polygon/Matic version of USDC.

~from Pexels

I wrote about BUSD Minter, the first Stablecoin minter in the increasingly crowded field of miners/minters based off the original Ether Shrimp Farm. The latest entries seem to be focussed on expanding through various stablecoins, first BUSD, and now USDC.

The twist in this one is that it is the Matic/Polygon version of USDC. In look and feel, besides a swap out of the stablecoin name from BUSD to USDC it is an exact copy of the BUSD Minter:

Mining a stablecoin avoids the turbulence of cryptos.

BNB, Matic, Fantom — Oh my! Every day I seem to get another shill for a new miner. So far, I seem to be making money off these miners. The key I think is to build a downline, and to not just collect eggs/BNB/FTM — what have you, but to also occasionally hire miners/recompound.

The issue all of these miners run into is the “Tragedy of the Commons.

“In economic science, the tragedy of the commons is a situation in which individual users, who have open access to a resource unhampered by…

And Here’s What You Can Do About It

Today is September 19, 2021, and the US House of Representatives is in the process of finalizing a $3.5 trillion infrastructure bill. The main goal of this bill is worthy — to rebuild the country’s crumbling infrastructure. An effort in this direction is in my opinion long overdue.

However, one provision that has been proposed by the House Ways and Means committee as part of the reconciliation package has absolutely dire consequences for anyone who has a self-directed IRA in which “non-traditional assets” (e.g., cryptocurrencies, real estate, etc.) are traded. Bill Section…


Articles on Crypto, with a DRIP Focus.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store