Welcome back, we are here with one more unbiased review on Drip Network, a cryptocurrency-based MLM and investment scheme which promises 1% daily ROI.
Here we will go through the company profile, joining process, faucet investment plan and referral commissions.
At last, we will share our personal opinion answering the question, is Drip Network a scam?
What is Drip Network?
As per the whois data, the domain drip.community was registered on March 22, 2021.
Drip Network is anonymously developed and 2 names appeared on their website Forex_Shark and BB.
Information regarding owners of Drip Network is not openly upfront therefore it comes under suspicion.
Drip Network has its own crypto token named “DRIP” which is based on BEP-20, Binance Smart Blockchain technology. There is a total of 1,000,000 tokens issued by Drip Network.
Similarweb stats show that most of the traffic to drip.community is from the United States (43.43%), United Kingdom (5.51%), and Netherlands (4.43%).
Drip Network takes 10% tax on all transactions of drip tokens and this tax goes into the faucet pool which is used to pay the daily ROI and referral bonuses.
|Company Name||Drip Network|
|Founder||Forex_Shark and BB (Anonymous)|
|When Started||March 22, 2021|
|Products||Crypto Investment Scheme|
Joining Drip Network
To become part of Drip Network, individuals have to purchase DRIP tokens from Drip’s swap platform named Fountain.
Drip claims Fountain is a decentralized exchange (DEX) and users can use BNB at this exchange.
After purchasing DRIP tokens, a person has to deposit these tokens to Faucet System to get daily returns and can participate in Buddy System, which offers rewards for referring & recruiting new members.
Read: Neora Honest Review
Drip Faucet System
Drip Network doesn’t market any products/services, but the prime pillar of attraction is the Faucet Smart Contract.
The Faucet Contract gives a 1% daily ROI commission on the Drip tokens deposited in it. The minimum required deposit is 1 Drip Token.
Drip charge 10% deposit fees and 1% daily return start on remaining tokens. Remember you will not get the principal deposited amount back and returns caps at 365%.
Individuals can either claim/withdraw the returns after paying 10% claiming fees. Or hydrate/reinvest in faucet by paying 5% hydrating fees.
The actual returns can vary in dollars with the fluctuating price of the Drip token.
- Available shows total available Drip Token which updates after returns & transactions.
- Deposits show total deposited Drip token including hydrated investment.
- Claimed is total Drip token withdrawal from Faucet smart contract.
- Referral Rewards denote the total rewards on referrals.
- Max Payout is the possible maximum returns on the deposited amount.
- Team shows the number of members referred/recruited.
Read: OmegaPro Honest Review
Drip Buddy System
Drip calls its referral system a Buddy system and uses an MLM compensation structure.
It is required to add Buddy Code while joining the Drip. On personal and downline enrollment, upline gets a commission.
New enrollee needs to invest certain Drip Token (Min 1 DRIP) in the Faucet, to get referral commission.
Here are 2 conditions to obey for referral commission.
- It is required to maintain personal positive deposit in Faucet.
- At least hold 2 BR34P tokens.
BR34P is another crypto token based on Binance Smart Contact (BSC). BR34P tokens requirement increases if individuals want to earn commission from deeper downline levels.
Direct Referral Bonus
When you enroll a new member with your buddy code, then you will receive 10% of the new member’s deposited amount (after excluding 10% deposit fees).
Direct Referral Bonus will be transferred to your faucet deposit.
For example, a new member deposits 10 Drip Token, then 10% deposit fees will be charged, then 10% of the remaining deposited amount (9 Drip Token) will be your reward which will be 0.9 DRIP.
Indirect Referral Bonus
Indirect Referral Bonus is offered when members in 15 level deep downline deposit or hydrate drip token.
This bonus is only for one upline member per action i.e. deposit or hydrate.
10% of the invested amount is given as an Indirect Referral Bonus after eliminating deposit or hydrate fees.
Members have to maintain certiain BR34P Tokens in their wallet, to receive rewards from different downline levels.
|Level 1||2 BR34P Tokens|
|Level 2||3 BR34P Tokens|
|Level 3||5 BR34P Tokens|
|Level 4||8 BR34P Tokens|
|Level 5||13 BR34P Tokens|
|Level 6||21 BR34P Tokens|
|Level 7||34 BR34P Tokens|
|Level 8||55 BR34P Tokens|
|Level 9||89 BR34P Tokens|
|Level 10||144 BR34P Tokens|
|Level 11||233 BR34P Tokens|
|Level 12||377 BR34P Tokens|
|Level 13||610 BR34P Tokens|
|Level 14||987 BR34P Tokens|
|Level 15||1597 BR34P Tokens|
For example, you will need to have at least 144 BR34P Tokens in your wallet to get this bonus from a 10 levels deep downline.
When members enrolled by you make a team of 5 or more members, then you receive a 2.5% extra bonus.
There is also an option to airdrop drip tokens for other team members.
Drip charge whale tax from daily major drip investors. The below table shows the tax brackets as per total deposited drip token.
|Deposited Drip Token||Whale Tax|
If a member invests between 10k to 20k drip token then 5% whale tax will be charged from the daily returns. Drip says, they brought this tax to maintain the sustainability of the platform.
Read: InCruises Review
Drip Network Verdict
Drip Network seems a lovely opportunity as it offers 365% returns on investment and referral commission on bringing new members/investors.
But there are some real facts to consider before joining, which make it a sham.
Operators are Hiding
Drip Network founders & operators are hiding. It’s the biggest red flag for any MLM company when operators do not reveal themselves.
Forex_Shark, BB and Team are behind the Drip community, but in person who and from where they are, is a question. As we can’t hold our money to a new organization whose operators are not public.
Netizens name some individuals from the US & Europe behind it.
The whitepaper available on Drip’s official website consists of all information about investment and referral system.
But that whitepaper is not sufficient as that is just marketing material. A whitepaper should be presented like proper documentation expanding every related concept and technology in the case of Drip, but Drip has not put any effort into it.
While writing this post, Almost 88% of all Drip Tokens are owned by just 3 holders. Hence drip tokens can be easily manipulated by operators.
Is Drip Network a Scam?
Drip Network is collecting investment from people by making them purchase Drip Token.
Drip Community is not offering investment services, as it does not invest depositors’ money in another market.
Drips says returns on investment are from transaction fees and charged tax. But how Faucet System can manage to offer 365% returns on investment, unless Drip manually maintains the sustainability of the system, by either minting new tokens or controlling the supply.
Surprisingly, Drip Token price is decreasing after reaching the peak on January 26, whereas the traffic on its website is continuously growing. As almost all Drip Token holders are the ones, who invested in its faucet system.
Drip Network a Ponzi Scheme!
Ponzi Scheme is a money circulation scheme, where early investors are paid on recruitment of new investors. And exactly that Drip is doing by using crypto jargons like Smart Contract, Hydrate.
It is just luring members to deposit more and refer more. No doubt Drip is delivering returns on investment, but this is also part of their tactics to make netizens believe in it.
Whenever Mr. Forex_Shark & BB wish, they can disable withdrawal and take easy exist, hence most investors will lose their hard earn money.
A similar project Animal Farm is also operated by Drip founders, to fool the maximum number of people they can. And so-called crypto genius YouTubers and Influencers promoting with max efforts to earn referral commission.
These promoters also know it will fall very soon, despite they want to be early-investors and get max possible commission till it sustains.
Other than faucet depositors, no one is interested to own Drip Token, as there is no USP offered by Drip to attract genuine and serious investors. It’s just fooling innocent kids who want to be quick rich.
Read: Q Sciences Honest Review