Kitchen Sink: 2 Million Drip Burned, 15 Million Drip TVL.

The Kitchen Sink is a daily ROI platform on BNB Chain offering a 1.5% daily return. This is a high-risk, high-return game. There is no outside revenue here, so your returns are based on other people investing in the platform as well. However, the team has implemented some nice features to help make the project more sustainable.

There are three contracts here with the same rules, just with three different tokens. One is the BNB token and the other is the Drip Token. Both are doing pretty well. The team started with the Drip contract and shortly after released the BNB contract. I’m going to focus on Drip here, but they both work in the exact same manner, with the exception of how the deposit taxes are distributed.

This has been a huge boost for the Drip Community with the contract burning nearly 2 million Drip tokens and the contract TVL approaching 16 million Drip. The Drip token is nearing a deflationary state and the token price has been slowing climbing up. This could change again but should reach a deflationary state sometime in January I believe. That should result in the price climbing.

The contracts work in the following manner :
1) Your deposits are permanently locked, but will start earning interest through claiming available rewards. There are not restrictions on deposits.
2) You earn a daily return of 1.5 percent, up to a total of 300 percent.
3) There is a 10 percent tax on all deposits, going to support the ecosystem.
4) There is a 10 percent tax on all claims.
5) There is a 5 percent tax on all compounds.
6) You can claim or compound once every 24 hours.
7) For every 3 compounds you make, one claim becomes available.
8) Additional deposits on an existing stake reduce your compounds by 1.
9) When you make a claim, the total staked amount (deposits plus compounds) is reduced by the amount you withdrew.
10) Any pending rewards stop accumulating after 48 hours.

If anyone wants to try out the kitchen sink using either Drip or BNB, feel free to use my referral link here.

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This article is for educational and entertainment purposes only. I am not a financial advisor and this is not financial advice. There is no guarantee that you will earn any money using the techniques and ideas mentioned in this article. This is not financial advice. Use only risk capital. Do you own research.