Jam packed with shoes, thousands of people, giveaways, and exclusive live interviews — Sneaker Con LA was a sight to behold. The Dripto team had an awesome time meeting fellow sneaker heads and collectors, sharing the innovation of our business model and premium experience our customers will enjoy. The energy in the building was electric.

Sneaker Con has amassed over 1 million attendees and vendors in more than 40 cities worldwide, since its inception in 2009. The hype around this year’s legendary event was no different though. The theme this year was centered around all things crypto, in collaboration with BAYC.

We jumped at the opportunity to be a vendor.

As a result, we had a chance to speak with a wide range of individuals at Sneaker Con LA — including influencers, veteran sneaker collectors, and crypto / NFT enthusiasts. We even chatted with leaders from well known brands that have made an incredible mark in the sneaker resale industry.

Resident DJs of Arena SF and LA graced us with fire sets each day of the event. Besides the captivating visuals and live music, we held a raffle for a pair of iconic sneakers. As a result, we had 25 people enter to win the raffle. Congratulations to our raffle winner for taking home the patent leather Air Jordan Bred 1s!

This wasn’t the only opportunity for someone to walk away with some cool sneakers though.

Huge crowds gathered for a chance to land a pair of free sneakers like the Air Jordan 5 Oregons, Air Jordan 13 Flints, and Air Jordan 5 Fire Reds. Some even received a mystery sneaker box. Contestants were called up to the stage and tested their luck at Sneaker Con’s number randomizer game. Whichever number they landed on, that was the prize they got from the game board. In the end, some walked away with sneakers and merch — while others left the stage with toilet paper.

The game board featured:

• Popular sneakers in the sneaker community
• Mystery merch boxes
• Mystery sneaker boxes
• “Try Again” — A 2nd chance to test the number randomizer
• Roll of toilet paper

A huge thank you to everyone who entered our raffle and stopped by our booth to learn more about the future of the resale industry — Dripto. We also want to thank the team behind Sneaker Con for this incredible opportunity.

Our development team is making significant progress in the development of our flagship product, The Marketplace. We hope everyone is ready to witness the next trailblazing business model and rewards ecosystem in blockchain technology.

In the meantime, we recently unveiled Drip Grails — the second phase of our three core products. There was lots of anticipation around the unveiling from our community last week. We sold out of available inventory in 30 minutes! There are a few grails available on our site now, so get yours while supplies last*.

*To be eligible for Drip Grails, investors must hold 50K $DRYP tokens.

Drip Grails grants you exclusive access to purchase highly coveted sneakers at a steep discount, and occasionally get them for free. To learn how Drip Grails works, check out this brief demo video.

To find the latest news & updates on Dripto, check out our Telegram: https://t.me/driptotoken

Sneaker Con LA 2022 Recap was originally published in Dripto on Medium, where people are continuing the conversation by highlighting and responding to this story.

On April 13th, 10 holders were chosen as beta testers to test and review Drip Grails — an exclusive platform where holders of our token who hold a minimum of 50,000 $DRYP can purchase items at discount and occasionally for free.

Testers were able to browse items on the Drip Grails home page, browse the product details page, add to cart, and checkout an item. The end-to-end shopping experience is as follows:

1. Browse items
2. Click on item of interest
3. To add to cart, connect your wallet then be able to add to cart and checkout
4. Fill in shipping information and select the desired payment option
5. Approve transactions through your wallet.
6. Order completes and a pop-up to share purchase on twitter will appear
7. Redirect to a confirmation page and receive an email confirmation
8. Dripto logistics team will fulfill the order and provide you with an updated tracking link once sent

I thought the experience itself was exciting, the portion of the website we were able to explore was very appealing, professional looking and easy to navigate. I look forward to tapping into the other options when they go live. I’m a big fan and I’m sure everyone in the sneaker & streetwear culture will feel the same way. Dripto is a Gem, thanks again to the Guys for this amazing opportunity!
 — Brian J. “@DriptoBR” from California

Beta testers had a role in testing, reviewing, and proofing Drip Grails. Bugs were reported and feedback was given to the team to improve on the platform.Through the beta testing process, users discovered some minor UI bugs and address incompatibilities that were fixed by the Dripto team.

Drip Grails is such a cool concept and the Dripto team nailed it, it looks beautiful and super user friendly, also the experience of buying the shirt using crypto was amazing, I truly believe these guys are going to revolutionize e-commerce.— Bruno R. “@BrunoRabailoi” from Ireland

Drip Grails beta testing period has given us insight on how to further improve and streamline our shopping experience and logistics. In a way, this was a “pilot” for the larger marketplace that will soon be available. We’re delighted at how smooth the shopping experience went for our Beta testers and look forward to continuing to deliver on the platform and growing the Dripto ecosystem.

It was an absolutely flawless experience. From logging into the website, to connecting the wallet, adding items to cart, and checking out the product. Love the UI look as well — Neat and not overly complex. — Swe “@That_SWE” from California

The Drip Grails platform felt like something that should already exist, so I’m glad Dripto is making it a reality. It’s smooth and easy to use, lit design and an overall professional feel. For a crypto-sneaker head like me this will be my go-to sneaker shop for years to come. — Sondre “@Solplux” from Norway

As round I beta testing comes to a close, our team will soon start beta testing round II. Thank you to the passionate Dripto community that further fuels our vision to revolutionize e-commerce and to make a meaningful impact in the crypto space.

RECAP: Drip Grails Beta Test Round I was originally published in Dripto on Medium, where people are continuing the conversation by highlighting and responding to this story.

One day, I stumbled upon an article about a coin that garnered 60,000%+ ROI. Fascinated, I dove headfirst into the world of shitcoins and defi: an entirely new beast. The sheer amount of information needed to succeed was daunting, and at times, overwhelming. I had to learn how to use pancakeswap, Metamask, the difference between ERC, BEP-2/BEP-20, and how to differentiate shitcoins from legitimate projects.

Now, I am a carpenter by profession and a craftsman by nature — a far cry from the tech savvy types that dominate the BSC space. I was buying anything that just launched. BSC projects were the equivalent of scratchoff lottery tickets. No research, no thought, — just bought. From there it was a constant loss of money. I had a few good plays, but nothing worth noting. While constantly being on YouTube trying to find videos of the next BIG one — I eventually found telegram and discovered call channels, including one called Shampoo Lounge. I was checking the channel pretty regularly. Then one day, as I was getting off work I got a notification — a personal invite to an AMA. At the time, I didn’t have a clue what an Ama was but since I was personally invited, I joined and listened. It was a presentation by Cdub and Steezn, back when they were working on their previous project, Ninjadoge.

The first thing I picked up on was their professionalism. It was contagious. These guys were solid and carried themselves with the utmost professionalism. You could tell by how they carried themselves and treated their community that they were genuine. I had already been exposed to so much Fake Trash and scams — listening to them speak was like a breath of fresh air after months of drowning in shitcoins. They always acted in fairness, with no bias or favoritism. Specifically — looking out for the smallest investors as well as the “whales”. The difference between investing in a shitcoin and investing in a REAL TEAM was amazing. I knew I found a team I could trust.

Including the prior project — Ninjadoge — I’ve been following this team for about 10 months now, following Cdub and Steezn into their next project, Dripto.

The past three months approaching launch have felt like some of the longest of my life because of the potential of what they were trying to accomplish. I knew that Dripto was an entirely different caliber and seeing them onboard a 20 deep roster of professionals made me confident that Steez and Cdub were on to something special. I came into the group everyday listening and talking with everyone: from the mods, to new community members, to the core team. I just really enjoyed the atmosphere in the Dripto community. I watched as the team grew and consistently delivered. I was so active because it genuinely felt so much different than any other group I was a part of. Many of the projects I found felt greasy and shady. Not with Dripto. Every move is done for the benefit of the whole not the one. I respected that a lot and it made me comfortable enough to be myself, at all times. I felt a kinship to the Team, Mods, and the Community. I see the passion in their work ethic and execution. I couldn’t help but want to be a part of something so different and extraordinary.

I was constantly just trying to be of any help I could, and that was recognized by Sonny — Dripto’s VP — who wasn’t a part of Ninjadoge and was able to build a real connection after a few weeks of messaging back and forth. One day, we opened up to each other about the rough patches we were going through. Out of the blue, Sonny asked if I was a fan of the Air Jordan 1 — Pollens. A few hours later, he sent a picture of a brand new pair and stated he wanted to gift them to me and asked if I was comfortable hopping on a Google Meets call. He said I didn’t have to turn my camera on but he’d have his on regardless.

I joined the call and eventually turned my camera on. There was a real and immediate sense of trust and family. As if we weren’t complete strangers in a “shady” crypto space, living on completely different sides of the country. We talked for almost 2 hours, discussed everything from shoes to life and our shared trauma; our pasts and our goals for the future; and how we handle our hardships. At the end of the conversation, Sonny had an offer: he spoke to Steez and Chris about bringing me on as a Dripto mod.

When I was offered to become a part of the team I was speechless. To be a part of something so huge in its infancy and be able to offer my skills and input — and having it valued — amazed me. There are so many amazing people within this team from so many different backgrounds.

It made me nervous to begin with if I am being honest but I couldn’t miss this potential opportunity. I am honestly still blown away by being a part of something that will be so huge. I look forward to every time I jump on the TG and hanging out with everyone I have grown to know over these past months, as well as those I have yet to have the chance to meet.

All Love,

Tom

Joining the Dripto Team: An Open Letter was originally published in Dripto on Medium, where people are continuing the conversation by highlighting and responding to this story.

Although we began our journey on Binance Smart Chain, we are now in the process of migrating to Ethereum. With all due respect to BSC and its community, we felt that ETH presented an opportunity to reach a greater subset of investors. We believe ETH investors will not only invest in our project, but connect with our brand and become evangelists within different online crypto communities.

As we have asserted many times before, we do not see ourselves as another memecoin. Our crypto token is at the forefront of bringing real world utility to the blockchain. It is important to us that we build our brand on one of the most trusted blockchain developer networks in existence.

Ethereum’s total value locked (TVL) has increased by 20% since last May, with its current TVL at an estimated $124 billion. While the monetary value of ETH is immense, we cannot discount the power of the network from an innovation perspective.

Other than TVL, why ETH?

Outside of its historic growth in value in the last year and the abundance of currency in circulation, we see an incredible opportunity to reach new heights on ETH. Additional factors impacted our decision as well that include:

• Stable and innovative open-source platform
• Second highest market capitalization in blockchain
• Thriving user base with accelerated growth potential
• Streamlined integration and adoption of our upcoming NFTs for our internal team and community members
• Accessibility to SEO Hubs to grow our community and increase awareness

While the decision to migrate from BSC to ETH was met with mixed reception from our community, we now get the sense that there is unanimous support for the migration. This can be seen in the amount of investors that have decided to remain on board post-migration. We currently have over 85% of our initial investors opting to migrate to ETH. With this, we are incredibly appreciative of our community for their continued faith and support of our brand.

Why not stick with BSC?

Low gas fees were one of the main benefits of our platform living in BSC & we decided to move forward with a BSC launch as this was a space that our leaders were familiar with. After a week from launch, we knew ETH would be a better fit for our product and long-term goals.

BSC’s total value locked (TVL) has decreased by almost 300% since last May. In addition, the network has seen a decline in users and circulating money. The historic trend of this network seems to be decreasing in value with no signs of stark recovery. As a result, its current TVL stands at about $13 billion.

Why is TVL important?

“The TVL shows how much money is locked in DeFi protocols and thus helps to get a clear view of the overall health of the DeFi market. It is a type of DeFi adoption indicator. TVL also is an effective metric to compare the market share of different DeFi protocols.”

-Steven K. (CEO & Co-Founder, Dripto)

With nearly a 10x TVL value, our marketplace and platform will reach a larger audience along with increased potential to have more money and volume flowing through our ecosystem on Ethereum. From a platform compatibility perspective (low gas fees), the BSC chain seemed to be a good fit but the fact is that BSC is a declining network with a sub-par reputation. We can go roundabouts with speculation if utilities were delivered that it would have made a huge reversal on our chart and that there is a chance that Dripto could have thrived in the BSC space, but a real use case such as Dripto’s has much more long-term potential on ETH. The marketing funds are much better spent on the ETH network. We also believe that our product would be better received from an ETH audience.

Why was bridging not considered?

Focusing on one network to build our platform and audience would give us the best chance of success. If we were to bridge cross-chain, we feel this would create additional friction amongst our internal teams and community.

Although we are not bridging at this point in time, we are not shutting the door on the potential to bridge cross-chain in the future. While we do see some value in cross-chain functionality, our time is best served building our full suite of products, crafting a distinct brand, and establishing ourselves as a disruptor of multiple industries. While we might be in a transitional phase, we haven’t lost sight of our vision.

Why consider CRO?

This decision will be reliant on an important contingency. Bridging cross-chain to CRO would be solely based on being onboarded into the CRO Incubation program. This program will give us a grant needed to focus on development and growing without worrying too much about our run rate. It will also gives us immense exposure and credibility, essentially having a stamp of approval from crypto.com themselves and access into their resource pool. We still prefer ETH and would rather bridge to CRO, even with a grant secured.

Will high gas fees impact utilities?

We are implementing various ways to workaround ETH gas fees. Currently looking at integrating a layer-2 scalability engine on ETH mainnet to reduce gas fees needed to purchase/sell on our platform. Furthermore, we will accept stablecoin from other networks such as BSC along with other accessible cryptos such as Bitcoin, Doge, and more.

We understand there are different approaches when it comes to halting trading and relaying communication about our ETH migration. However, we believe these recent events were conducted fairly for the general investor. Nothing has changed aside from us living in a different chain — our vision and product remains the same and our passion to deliver continues to grow.

Moving forward, the team will conduct regularly scheduled AMAs and updates. As for marketing, we will be changing our strategies and look to onboard a marketer with experience in ETH that aligns with our goals. Over the past couple days, our core team has conducted intense brainstorming sessions to improve our ecosystem and bring another innovative concept that aims to merge real products with digital assets. We are excited to move forward and the team thanks you for your continued support!

Will there be another private sale leading up to relaunch on ETH?

Yes, we will hold a private sale prior to launching on ETH. We came to this conclusion based on the following reasons:

• Provide an opportunity for current Dripto community members to purchase additional $DRYP tokens leading up to the migration
• Create visibility and awareness within ETH investment communities

We are not the first project to migrate cross-chain, and we most certainly won’t be the last. Although our time on the Binance Smart Chain is coming to an end, we greatly appreciate the strong community of BSC investors we have on board. This process has not been easy for anyone, but we will all see great success from this transition.

To find the latest news & updates on Dripto, check out our Telegram: https://t.me/driptotoken

We are moving to the Ethereum Network. Here’s why. was originally published in Dripto on Medium, where people are continuing the conversation by highlighting and responding to this story.

We are excited to announce that Dripto — the first and only marketplace where streetwear is bought and sold with crypto assets — has integrated Chainlink Verifiable Random Function (VRF) to fairly distribute prizes in our raffle drawings. Chainlink is an industry-leading decentralized oracle network that provides an auditable source of randomness, allowing Dripto to improve its operations by increasing transparency and expanding its smart contract capabilities.

The decision to build Dripto on the blockchain and solely accept crypto assets as payment uniquely positions us as first movers in a developing industry. However, this naturally presents a set of unprecedented hurdles that cannot be overcome with a traditional business model. Consequently, Dripto was developed with a heavy focus on providing a novel retail shopping experience that prioritizes customers. To achieve this, we’ve developed an array of rewards for each type of user. In essence, a platform user is eligible for rewards without needing to own our native token — DRYP — and vice-versa.

Among these systems is our weekly raffle giveaway. Each week, users that purchase 1000 DRYP are awarded a ticket to the lottery. The user’s wallet address is automatically recorded and entered into the draw. Users can increase their chances of winning with more ticket entries: for every 1000 DRYP purchased, 1 ticket is awarded. There is no limit to the amount of entries per user, although tickets do not roll over to following weeks.

In order to ensure raffle winners are selected in a fair and transparent manner, we need access to a secure random number generator (RNG) that any user could independently audit. However, RNG solutions for smart contracts require several security considerations to prevent manipulation and ensure system integrity. For instance, RNG solutions derived from blockchain data like block hashes can be exploited by miners/validators, while off-chain RNG solutions derived from off-chain APIs are opaque and don’t provide users with definitive proof about the integrity of the process.

After reviewing various solutions, we selected Chainlink VRF because it’s based on cutting-edge academic research, supported by a time-tested oracle network, and secured through the generation and on-chain verification of cryptographic proofs that prove the integrity of each random number supplied to smart contracts.

Chainlink VRF works by combining block data that is still unknown when the request is made with the oracle node’s pre-committed private key to generate both a random number and a cryptographic proof. The Dripto smart contract will only accept the random number input if it has a valid cryptographic proof, and the cryptographic proof can only be generated if the VRF process is tamper-proof. This provides our users with automated and verifiable assurances directly on-chain that the weekly lottery is provably fair and was not tampered with by the oracle, outside entities, or the Dripto team.

“From provably fair raffle drawings to safeguarding user data to our unique item authentication process — we want to hold ourselves to a high standard when it comes to the integrity of our business. Chainlink VRF helps us further establish those values by providing a reliable way to keep drawings honest and fair for our entire community of users.” — Steven K, CEO of Dripto

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Dripto

Dripto is the first and only resale marketplace where sneakers, streetwear, and luxury items are purchased and sold with cryptocurrency — users can now receive real products shipped to their door. Dripto provides shop-to-earn mechanics and gamification aspects within the Dripto platform through the implementation of blockchain.

Our mission is to connect streetwear culture and crypto technology to provide a real-world use case for crypto while simultaneously revitalizing the streetwear market by offering a much-needed novel alternative.

Learn more about Dripto by visiting dripto.com or reading our articles at medium.com/driptotoken. Come chat with our community and team at t.me/driptotoken

Dripto’s Raffle System Is Now Powered by Chainlink VRF was originally published in Dripto on Medium, where people are continuing the conversation by highlighting and responding to this story.

The most anticipated token launch of 2022 is here! Our Telegram has been extra hyped, with Drip fam brewing with excitement to get their hands on $DRYP. The wait is finally over though. Head over to Pancakeswap to get your $DRYP tokens today.

You will not want to miss out on the latest roll out on Dripto. Today we are kicking off Dripto’s lottery system, where you can win some amazing prizes just by buying $DRYP. For every 1,000 $DRYP tokens purchased, you will receive one ticket entry into the lottery. There are no ticket entry limits! The more $DRYP tokens you buy, the better your chances of winning. Be sure to hold those tokens for the entire lottery cycle though.

To our Drip fam, thank you.

Many different people made invaluable contributions to make the $DRYP token launch a momentous occasion. For that, we would like to thank each and every one of you. You have not only supported our vision, but never wavered in your belief that Dripto is reimagining the capabilities of crypto technology.

First and foremost, we want to thank our partners who saw Dripto’s potential and wanted to assist in the launch of the $DRYP token! Astronaut, Wizard FInancial, Sphynx, Degem, and OrbitLaunch made the $DRYP token available to thousands of investors in search of the next big cryptocurrency to invest in. As a result, we were able to achieve our IDO goal in all 5 launchpads, raising an estimated total of $200K BUSD!

Below is a brief recap of our launchpad series:

Astronaut: March 22nd ($70K BUSD presale raise completed)

Wizard Financal: March 21st ($50K BUSD presale raise completed)

Sphynx: March 19th (50 BNB presale raise completed)

Degem: March 18th (50 BNB presale raise completed)

OrbitLaunch: March 17th ($40K BUSD presale raise completed)

To our community members, we thank you for never losing sight of what we will accomplish. We understand that transparency is of utmost importance, and we get the sense that you cherish this about Dripto. We do our best to keep our community updated on the latest news and developments. That faith does not go unnoticed, and you all are the reason we continue to strive for greater success.

The internal teams at Dripto have spent countless hours crafting an experience that has never been seen before. Our development and marketing teams have made significant progress in all facets of the business. Taking Dripto from conception to the most groundbreaking product offering in a 6 month timespan is nothing short of amazing. The collective passion we share in crypto, clothing, sneakers, and culture is unmatched. We can’t wait to roll out the most comprehensive customer experience over the next several months. With the most robust product roadmap imaginable, we know that our community is in for a treat.

Dripto’s moderation team has played a critical part in generating excitement amongst our community leading up to this day. Over the last couple months, they have been focused on expanding our global footprint. We now have dedicated moderators that are managing our Telegram channels in Japan and China, with opportunities for further expansion in sight. These channels will help us accommodate the questions and overall needs of our international community members. From holding quizzes for prizes to posting questions to get a sense of the community’s taste in sneakers, the team has not been shy about sharing their wealth of knowledge in crypto and sneaker culture. The excitement for what’s next could not be any higher among the Drip fam. For that, we thank you.

Limited edition Dripto merch on the way!

Last but not least, we are excited to unveil our first drop of Dripto merch. Led by Jaxon, VP of Product Management, these limited edition shirts will be made available soon. Quantities are limited, so be sure you get yours before they run out!

We hope you are excited for what we have in the works!

To find the latest news & updates on Dripto, check out our Telegram: https://t.me/driptotoken

The lead up to $DRYP Launch Week was originally published in Dripto on Medium, where people are continuing the conversation by highlighting and responding to this story.

With Dripto, you can expect:

· Digital assets with utility beyond the blockchain (i.e. the ability to have physical goods shipped directly to you)

· Shop-to-Earn

· The lowest fees among all resale marketplaces

· A tier-based system that unlocks additional rewards such as fee reductions and access to Drip Grails

· Weekly lotteries for free prizes

· Premium NFT’s granting holders additional and exclusive rewards

· An innovative set of staking protocols unlike any other in cryptocurrency

Utility Beyond the Blockchain

Crypto’s permeation into the mainstream continues to rise, evidenced in part by the increasing number of companies launching initiatives to integrate aspects of blockchain into their infrastructure. However, execution of these initiatives has been clunky, particularly in the retail space. Dripto is uniquely positioned to reimagine and redefine the retail shopping experience by being built entirely on the blockchain, allowing us to fully leverage the advantages of blockchain tech in ways traditional retailers cannot, while simultaneously providing real-world utility to cryptocurrency.

Shop-to-Earn

The resale marketplace will have a shop-to-earn mechanism. When a user buys or sells an item on the platform, they will enjoy a small % of that sale in $DRYP tokens. Before that process incurs, the tokens will be bought with company revenue, increasing the price of $DRYP.

Fee Comparison

With plans to expand into the metaverse; buy and sales taxes of $DRYP; staking; and our NFT line, Dripto’s profitability isn’t based solely on sales transacted on our resale platform. This allows us to offer significantly lower fees than our competitors. Here’s how our fees compare:

Available at Token Launch: Drip Grails and Lottery

Drip Grails & Tiered Benefits

Holding $DRYP is another way to gain rewards. This system is tier-based and grants Tier 2 holders access to Drip Grails: an exclusive shop where users are able to purchase high end products and merch for below market value — occasionally for free.

How it Works
Users must hold a certain number of tokens to unlock reward tiers. To access Drip Grails, a user must hold at minimum 50,000 $DRYP.

Lottery

Buying $DRYP enrolls users into our weekly lottery with chances to win BUSD, cash, prizes, vacation packages, gaming consoles, and more.

How it Works

One ticket is granted per every 1,000 $DRYP purchased. Tickets do not roll over into the next week, but there is no limit on the amount of tickets a user can purchase. Lottery winners are announced on Dripto.com/lottery.

Drip Pass

Users have the option to subscribe to a monthly subscription to enroll in Drip Pass. As the platform user shops and sells on the marketplace, they garner experience points to unlock various rewards such as tokens, platform credit, NFTs, reduced platform fees, and more. Rewards progressively increase in value as sellers achieve higher levels of the Drip Pass.

NFT Line

Dripto is releasing a collection of 8,000 NFT’s designed by renowned art studios within our network on the Ethereum blockchain. Owning an NFT elevates a user to the highest echelon of the Dripto ecosystem: the Drip Club. Members of the Drip Club have immediate access to Drip Grails, a private insider chat open only to other NFT owners and the core team, exclusive tokenized rewards, and an annual event hosted at distinguished venues across the globe where industry powerhouses in fashion, crypto, art, and music can collaborate and socialize

Passive Income

Yield Farming

Yield farming involves staking $DRYP to get rewards in the form of transaction fees and price appreciation. Users can also lock in their tokens to earn $DRYP, but at a lower APY compared to the staking pool.

Staking Pool

The more familiar staking protocol offered by Dripto is our staking pool, where users have the ability to lock in $DRYP for a set amount of time, generating additional $DRYP at an extremely high APY.

Shoe Staking

Dripto has a first-of-its-kind concept in shoe staking, an innovative protocol implemented in our contract that assigns a generic (non-value) NFT for every shoe listed on Dripto, which is automatically staked on behalf of the seller. A seller on our platform now has another way to generate passive income simply by losing their shoe. Once the shoe is sold, the NFT is unstaked.

Dripto Platform Utilities was originally published in Dripto on Medium, where people are continuing the conversation by highlighting and responding to this story.

Overview

Dripto team has carefully planned the tokenomics and distribution to be future-proof. The total $DRYP supply will be $150 million and launch price ~$0.011. At launch, the $DRYP market cap will be around $1.7million with a circulating market cap of around $450K. The liquidity of $DRYP will be in BNB.

$DRYP will have taxes on each transaction, buys will incur a 10% tax, and sells will incur a 14% tax. Not only will this mitigate swing trading, but also provide Dripto the necessary revenue to continue operations, marketing, development, and logistics. There is flexibility to reduce taxes or have no taxes at a later stage when our platform reaches a point of profitability and we no longer need to rely on contract revenue. Full taxes breakdown can be viewed on our website.

$DRYP’s token distribution is designed to support our platform and token ecosystem for years to come. The distribution and vesting schedules are specified below.

You can view the full whitepaper here

Supply Allocation

Team
Allocating 5% of supply to the Dripto team will ensure that we continue to work hard for this project and gives real incentive to succeed. Tokens will be unlocked after a 90-day cliff, with a 12-month vesting.

Advisors
Through industry-leading connections, we’re able to bolster our team with highly skilled and knowledgeable advisors to help scale and grow our business.

Strategic Partnerships
Reserved for partnerships ranging from venture capitalists, brands, and celebrities, this enables Dripto to leverage stake in our company to build long-lasting relationships.

Treasury
Flexible use including CEX listing opportunities and cross-chain liquidity. We’re taking steps towards a more decentralized platform and giving our community a bigger voice through a governance system as treasury may be used for community-driven purposes.

Staking
~22% of supply allocated to staking to enable long-term 3rd-party and native staking solutions. Staking opportunities are highly desired by investors and will promote longevity and stability of the $DRYP token by rewarding those who stake and provide liquidity.

Liquidity
Allocated to liquidity, making $DRYP tradeable.

Early Adopters
The earliest supporters of the project, originating from migrated $NINJA tokens ~2.6% total supply allocation.

IDO
Allocated towards our launchpads, who will raise our last rounds of funding and support Dripto for launch and beyond.

Presales
Allocated for additional fundraising outside the seed sale and IDO; this is the 2 fundraises that occurred through the Dripto website.

Seed Sale
Early supporters of Dripto, seed investors form the foundation of this launch.

Final $DRYP Tokenomics & Distribution was originally published in Dripto on Medium, where people are continuing the conversation by highlighting and responding to this story.

Undeadstock more than made up for the almost 2 year absence of public events. There was an overwhelming number of sneakerheads in attendance at UNDS 4. Dripto connected with some really cool people and brands in the streetwear scene.

It was the place to be.

On arrival, we were greated by an amazing staff that directed us straight to our table so there was no running around trying to figure out where we should be for the next 20 mins. When we entered the venue, held in Slam Alliance’s beautiful facility in Hayward, CA, it was packed with people from all walks of life. Individuals from all over the bay came here to celebrate a culture some people didn’t know existed.

As we left UNDS 4, we came away with some encouraging takeaways, to say the least. Event goers were very excited to hear about the first ecommerce platform to operate exclusively with cryptocurrency transactions. They found this concept to be a trailblazer — pushing the limits of what resale platforms can provide its community. As a result, Dripto was met with a lot of interest from attendees seeking to know more about our business model.

This led to a substantial amount of participation in our event survey. We were frankly surprised by the overwhelming number of respondents who were already crypto investors. In fact, 50% of respondents were currently invested in cryptocurrency. In addition, over 20% of respondents considered themselves to be “crypto curious” and would consider investing in cryptocurrency. Discovering first hand the significant overlap between streetwear culture and crypto investing helped us understand that Dripto is something that can really shake up both industries. A token that caters to both audiences, but provides incredible incentives was a prospect that we felt could set us apart — we just needed proof.

Proof of concept was a critical piece missing when Dripto was in the conception phase. Internally, we thought we were onto something big. We needed verifiable proof that there was a need for this product though. We found the UNDS 4 event to be an integral part in gauging the interest of our target audience. We proved to ourselves that there is a fundamental need for this product and that consumers would be interested in using this sort of platform. We discovered that over 50% of participants would use Dripto to purchase sneakers with the cryptocurrency they currently own. A fair number of participants were on the fence, with over 30% responding with a ‘maybe’. This information alone told us everything we needed. It was at this time that we knew that Dripto would forever change the resale industry. Most importantly, we would be providing the overall experience that sneaker collectors had been waiting years for.

When we were doing the surveys many people felt to ask what crypto really is. Many of them didn’t understand the whole idea of it, but who really does? Every single day something else is being discovered or made for the crypto space so we assured them it’s something we’re all learning. We asked people where they were traveling from and how’d they find out about this event. Many would say from the bay, some would mentioned they drove 4–5 hours, and we were lucky enough to get a few from other countries like Uganda. A lot of the individuals who came to our table mentioned it was their first event, and a big portion of them said they go to every sneaker event in the bay. You really get the best of both worlds, those who enjoy the scene and bathe in the drip people were walking around in, and then those who makes this their own personal hustle, their livelihood. I commend those who put every single chance they get to expand their inventory or find a grail they’ve been dreaming to add to their collection.

Meeting with sneaker and streetwear enthusiasts helped us understand the most common pain points of using services from key players in the resale marketplace industry. Most importantly, we learned that resellers and collectors have struggled with accurate shipping estimates, with over 30% of participants highlighting this issue. Responsive customer service support and communication was , and providing incentives that will fuel the community to take part in transactions. Taking this information into consideration, Dripto will focus on differentiating itself by focusing on these core issues, while expanding on the rewards ecosystem we have in place.

“Working that event didn’t feel like working at all. The energy and atmosphere of the whole event was incredible and full of life. As my first ever sneakercon event, UNDS really outdid themselves. You can bet on me being in every single one because they gave me a taste and I can’t get enough. To those who attended and took time to do a survey at our table, thank you. To those who didn’t get a chance to hear about our project, I’m sorry, I hope we reach you all soon.”

-Jean M. (Project Manager, Dripto)

We are incredibly grateful to Undeadstock Events for allowing us to be a part of such an amazing event. All of our team members had a great time meeting everyone in attendance. The Dripto team is looking forward to the next opportunity, and we will be sure to have even more exciting giveaways and items for those interested to take home. Until next time, we leave you with a couple

For more insights we found at UNDS 4, see below:

To find the latest news & updates on Dripto, check out our Telegram: https://t.me/driptotoken

Writing contribution: Jean Macalalad

UNDS 4 Event Recap was originally published in Dripto on Medium, where people are continuing the conversation by highlighting and responding to this story.

That’s why we conducted proprietary research and partnered with a top-rated data-driven marketing agency to conduct an extensive market research project.

The main objective of our research was to quantify the overlap between the two markets we plan to serve: crypto investors and streetwear enthusiasts. We had data about each market individually but needed to bridge the gap between the two.

The sneaker resale market is estimated to be a $6 billion dollar industry, with 20%+ y/y growth since 2012. It’s growing at a faster rate than the $79 billion global sneaker market, which has seen 10%+ y/y growth in the same amount of time. We are witnessing the gap closing between these two closely tied markets. By 2030, the sneaker resale market is projected to grow to $30 billion.

Currently, the global crypto market is estimated to be worth $1.49 billion — and is projected to reach $4.94 billion by 2030. Every day, new technology and trends surface that push the DeFi movement forward.

While this macro data is useful, we needed a more granular understanding of our target market. Have they used crypto apps before? What resale marketplaces are they most familiar with? Is there a link between what shoes people buy and how interested they are in crypto?

The answers to these questions would be instrumental in the decision-making process for our team.

After reaching out to several marketing agencies, Anderson Collaborative (AC) stood out to us for four key reasons:

1. Comprehensive and data-driven strategy
2. Experience and success with previous crypto clients
3. Vast network of data partnerships (Time Warner, Visa, Mastercard, etc.)
4. Personal interest and knowledge of crypto

Once we aligned with AC, we decided to use surveys for this project. The following outlines their methodology:

• Collaborate with Dripto on survey creation
• Distribute surveys to 1,500+ respondents via Google Consumer Surveys
• Perform several tests to assess statistical significance (T-test, regression analysis, ANOVA)
• Uncover insights through data analysis
• Use data-match technology for additional demographics and insights

As expected, this process produced valuable results.

24% of qualified respondents were interested in both crypto and streetwear. This reassured us that there is a market for our platform. However, interest alone does not tell us that they will use Dripto. 60% of qualified respondents are more likely to shop on a streetwear site that only accepts crypto as payment, because of the crypto-only payment policy. Now we’re seeing something beyond interest alone.

“Interests in cryptocurrency and streetwear tend to be polar opposites with respect to a person’s spend on sneakers. Those who have low spend are likely only interested in cryptocurrency, and those who spend so high tend to be interested only in streetwear. Those who are interested in both cryptocurrency and streetwear spend around $100-$200 on sneakers.” — AC

For the rest of their insights, read our whitepaper: Dripto Whitepaper

We learned a lot about our target market. Which shoe brands they like, apps they use to buy crypto, and even coins or tokens they have traded. This data was made available to our team so that it can drive our decision-making — from the design and functionality of our platform, to the content we create for our marketing channels. We wanted to take a data-driven approach to best serve our audience on all fronts.

We cannot thank AC enough for the work that they’ve done. We’re proud to have them as a partner and look forward to the work we’ll do in the future.

For more information about AC, check out their website: Anderson Collaborative

Is there a market for Dripto? was originally published in Dripto on Medium, where people are continuing the conversation by highlighting and responding to this story.