Does Hydrating DRIP More Than Once a Day Help My Faucet Balance Grow Faster?
Let’s say you had 100 DRIP tokens in your deposits. Does it help to Hydrate (Compound) more than once per day? Let’s find out!
UPDATE: Since publishing this article, the price of DRIP and every single other mainstream crypto has changed. View current DRIP price on CoinGecko.com. I still believe in DRIP and it’s currently the only project I’m invested in.
If you’re not aware, I also make YouTube videos. I’ve been making helpful, tutorial-type videos for almost 7 years! I make videos because I truly love helping people; the $150/mo paychecks from Google Adsense are hardly worth it 😂
Today’s topic: Should I Hydrate DRIP 1x, 2x, or 3x Daily? Will That Be Financially Beneficial?
If you want the video version, check it out here:
For this article, we will be using the following information:
- Price of DRIP (will be different when you read this article): $4.90
- Starting Deposit Balance: 100 DRIP (to get around 100 in your Deposits, you’d have to actually deposit 111 tokens because there’s a 10% deposit tax)
- Hydrating Daily (no claims)
- Results After 180 Days (6 months)
- Hydrating 1x Fee: ~0.00125 BNB
The calculator I’m using: https://mmwm.dev/dripguide-calculator
Hydrating DRIP 1x Daily
Starting with 100 DRIP tokens in our deposits, by the end of 6 months, we would have a total of 548 DRIP. With this amount, you’d pay $72.90 in BNB fees.
This is the standard rate most people Hydrate so fees are expected and won’t be considered an added expense.
Hydrating DRIP 2x Daily
Starting with 100 DRIP tokens in our deposits, by the end of 6 months, we would have a total of 553 DRIP. With this amount, you’d pay an extra $72.90 in BNB fees and only earn an extra 5 DRIP!
Hydrating DRIP 3x Daily
Starting with 100 DRIP tokens in our deposits, by the end of 6 months, we would have a total of 554 DRIP. With this amount, you’d pay an extra $145.80 in BNB fees to earn an extra 6 DRIP!
What’s the Best DRIP Hydrating Solution?
With the $72.90 or $145.80 (2x or 3x respectively) you would have spent on BNB fees, why not take that amount and buy DRIP directly and then add them to your Faucet?
Instead of Hydrating 2x/day, take the extra $72.90 and buy 14.87 DRIP. With a 10% deposit tax, you’d be adding 13.38 back into your Faucet. That’s a gain of 8.38 DRIP from buying them outright!
Instead of Hydrating 3x/day, take the extra $145.80 and buy 29.75 DRIP. With a 10% deposit tax, you’d be adding 26.77 back into your Faucet. That’s a gain of 20.77 DRIP from buying them instead of wasting that money Hydrating!
What If I Start With 500, 1k, 2.5k, 5k, or 10k DRIP?
I ran the numbers (and even made a video about it). But for those of you who don’t care about watching yet another video, I’ll sum it up:
While you can make UP TO an extra 198 DRIP after Hydrating 3x daily, with a starting balance of 10,000 tokens, that extra DRIP is really the equivalent of 1 more day’s worth of DRIP.
In my opinion, it’s not worth the time, but you’re welcome to do whatever makes sense to you!
You will have spent the same amount of BNB in transactions fees from what’s listed above.
Here’s a screenshot from the end of the video above:
If you’re starting with a Deposit balance of less than 1,000 tokens, it’s not financially worth it to Hydrate more than once per day. Starting with more? It might be. Check out my YouTube channel for more great content regarding DRIP!
YouTube Channel: https://mmwm.dev/youtube
How to Join DRIP
Beginner Crypto Users
If you’d like to get started and invest in DRIP, here’s what I’d recommend doing… read my free tutorials:
- How to Install the Wallet Needed for DRIP: https://coder828.medium.com/how-to-install-metamask-or-walletconnect-for-drip-dd3dd5c5a3a4
- How to Buy BNB for DRIP: https://coder828.medium.com/how-to-buy-bnb-for-drip-investing-6ffaf1ac5996
- How to Add a Buddy ID in DRIP: https://cryptozoa.com/how-to-add-a-buddy-id-in-drip-network-4e16944fec69
- How to Buy DRIP Tokens (and save 10% in fees): https://coder828.medium.com/how-to-buy-drip-tokens-and-save-10-percent-in-fees-9621a8c30453
- How to Hydrate DRIP (re-compound): https://coder828.medium.com/how-to-hydrate-drip-15979c562389
- How to Claim DRIP (allows you to sell/send DRIP): https://coder828.medium.com/how-to-claim-drip-tokens-32d7b48fe53c
- How to Sell DRIP (from DRIP to BNB to Cash): https://coder828.medium.com/how-to-sell-drip-tokens-back-into-bnb-3ad91c916597
Intermediate Crypto Users
If you’re already comfortable creating wallets, buying BNB, converting that BNB to the BNB on the Binance Smart Chain, and you understand the basics, feel free to use this simplified guide:
- Go to https://drip.community/fountain and exchange BNB (on the Binance Smart Chain) for DRIP.
- Head to the Faucet page and enter a Buddy ID in the “Get a Buddy” section. This is required to join DRIP. Please consider using my Buddy ID: 0xC45B2dF781c1d011532eF5676591226Cd16e16A1
- Deposit at least 10 DRIP (and make sure you have at least 0.05–0.1 BNB on the Binance Smart Chain for transaction fees).
- You’re all set up on DRIP. Get ready to receive 1% daily! But, do come back regularly to hit that hydrate/re-compound button!
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