Yes, you heard that right. I am currently in about $300,000 in debt (due to issues in my business and personal mistakes I have made). The good thing is that we can all learn from our mistakes and just push forward. The way I am moving forward is by investing $4k in the all mighty Drip Network. What is the Drip Network you might ask and is it risky?

Drip in short is a DeFi project on the Binance Smart Chain that provides passive income assuming you deposit your Drip tokens into the Faucet contract for a 1% return per day. Yes, you heard that right! Your return is 1% a day and you can choose to Hydrate (compound) your daily 1% or claim that as profit. The main question that comes into play is the sustainability of the project and the value of the Drip token. We will not cover the ins and outs of how exactly the contract works however you can do more research on the Drip Network yourself.

To be short and sweet: Do I think this project will last? The answer is yes. Do I believe the Drip Token will be worth more than it is now? The answer is yes.

 How to Pay it OFF and How We Got Here?

Now that you understand a little bit of the potential returns with the Drip Network lets discuss exactly how I plan to use it and how I am already currently using it to pay off my whopping $300K debt mountain.

I got into the Drip Network on December 2021 with about a $200 initial deposit. I didn’t open up the site or think about it for about a month thinking I immediately made a mistake and that this is just another miner that I am too late too once again. Little did I know that this was just the beginning of the Drip Network and there’s more too this platform. A lot more!!

The image below shows when I got into the system at a price around $25/Drip. A few months later DRIP hit it’s all time high with a price of $169 on Pancakeswap (around $196 on it’s native dex) with the launch of the Animal Farm creating utility for the Drip token. Shortly after it’s lunch came the Piggy Bank which was botted at launch causing FUD in the community and the price to tank down to where it is today which is about $9.90. I wont go into detail on the mechanics of the Animal Farm in this article but know that it is a whole other beast worth looking into.

Image 1: Price Chart for the lifetime of the DRIP Project

All throughout this time I have been adding more and more funds to the project. Some at it’s high and some at it’s recent low of $4.50ish coming to a total investment of $4k into the project.

So at this point you might be asking yourself “Why?!”? This project and chart looks hideous. The answer to your why is Forex Shark (the developer of DRIP) and the power of compound interest.

First lets talk briefly about this Forex character and why so many believe in him.

#1 — He believes in utility. The utility for his tokens is important to him and he works night and day developing on top of DRIP to add utility.

#2 — The community: DRIP has one of if not the strongest communities in all of Crypto. While their has been so much FUD (Fear uncertainty and doubt) about DRIP recently it has been the community that has helped to keep the project going strong. I believe this community is so strong because Forex Shark has already turned so many “regular” people into multi millionaires. Similar to what Richard Heart did with HEX (A discussion for another day).

The Power Of Compound Interest

There is no denying the power of compound interest. It works in our everyday lives weather for the positive or for the negative. The Drip Network is no exception to this powerful concept as it pays you 1% a day that you can claim or compound into your account (with some taxes involved but I won’t go into detail on that)

A great example is my account which I have put in roughly $4k into it. I currently have an account worth about $12.6k (due to compounding)paying me out close to $120/day if I choose to claim:

The reason my account is so large is in fact because I have been compounding since day 1. Some will say you got to pull some profit others will say keep the compounding going. Why don’t I pull profit you might ask? Well it’s because again I believe in the project and that the price can once again reach all time highs.

Now lets get to the nitty gritty of things. How will I payoff my $300,000 debt mountain⛰️ I am caring on my shoulders right now? Well remember we can choose the power of compound interest to work for us or against us. Sadly I have used it against myself which I one day woke up and realized how bad my debt is with no light in sight. Now lets have this compounding power work for me.

Lets do some simple math. Lets say, hypothetically speaking, that if DRIP can go back to about half of it’s original price which was about $100/DRIP token (which is very much doable with the utility Forex Shark has for the DRIP token)making my current account balance to be $113,000. Assuming I choose to compound for another 8 months my account balance would be $1,268,154. Yes, that is not a typo and yes it can even be more than this if DRIP is worth more (many believe it can be over $200 per token). Here is a screenshot of a daily compound interest calculator if you don’t believe me:

Compound Interest Power!

This is a payout of roughly $12,600/day. Therefore, in about 24 days I can payoff my $300,000 debt mountain.

Call me a dreamer! Hey dreaming is fun and the funny thing is that these numbers are actually doable in my personal opinion. In the end of the day this is the power of Drip and this is the power of compound interest. Check back here 8 months from now :)

❇️DRIP Link: drip.community/faucet?buddy=0x994EfE065DB3957D1C920aA336D813FbE1f942b8