Let Me Introducing Dropil Ecosystem
1. Ecosystem Upgrades
We are excited to be moving forward in the direction of a complete ecosystem integration. Check out the Dropil ecosystem updates below that will affect all Dropil apps.
— Single Point Sign-On
As was already announced in a previous update, Dropil Home will be bringing a single point login for all current and future Dropil products and services. This means that once you log into a single Dropil app (i.e. Dex, Arthur, Max), you will simultaneously be logged into all Dropil apps.
This acts as a convenience on the surface allowing you to seamlessly switch between tools and products quickly, but also improves customer security. Included with this update is a global drop-down menu that will allow you to navigate between Dropil apps with a single click of a button.
The new single point sign-on system also allows users to stay logged in for even longer. Active Dropil users will no longer have to enter their login details every time they visit a Dropil app. Instead, sessions will last longer and will only expire after extended durations of no activity.
In addition, once a user clicks the logout button inside any Dropil app, they will be simultaneously logged out of all apps on any logged in device, adding a powerful extra layer of user security.
— New Hot Wallet System
One of the most noteworthy changes taking place to the Dropil ecosystem is moving to a hot wallet system for all of our operations. This presents a number of improvements such as enhanced user security and privacy, faster transactions, and lower operating costs. Additionally, with the hot wallet system, we were able to add a feature we’ve wanted to add since the inception of Dropil: now all users will be able to easily generate multiple wallet addresses allowing control and privacy of their Drop transactions.
Further enhancing customer privacy, withdrawals from portal wallets will originate from system hot wallets and quickly be deposited to user provided wallet addresses. A significant benefit of the system is the cost savings to Dropil on transaction fees that will add to the sustainability and scalability of the platform.
Deposits to and from the Vault will now be systematically scheduled in lump movements. Necessitated by the rollout of a number of premium subscription services that will require Drops for payment, the new hot wallet system serves a number of benefits made possible by local storage of balances such as the ability to instantly debit without fees.
— Revamped Referral System
Another ecosystem update that will roll out along with the introduction of Dropil Home is a revamp to the Dropil referral bonus structure. We will be applying a new, more generous referral structure designed for the forthcoming release of Jade to all of Dropil! We will still be offering an initial bonus of $5 worth of Drops upon the completion of first Dex cycle for both the referral (user that used referral code/link) and referee (a user that provided referral code/link).
In addition, we will be implementing a new structure that will bring continuous benefit in support of the launch of future premium Dropil products. Users that sign up using a referral code receive 10% off the price of all Dropil premium services for life.
Additionally, the referee receives 10% of all payments and/or subscriptions made to Dropil by their referrals for life. A single referee is able to earn this 10% from unlimited referrals!
— CUSTOM REFERRAL CODES
With the new referral system, we are introducing the ability to generate custom referral codes to share. By default when you register, you will receive a default code that may be edited to a custom code of your choice. As an added benefit of linking your TruID, you may create an additional four custom codes for a maximum of five custom codes for a single user.
— A GIFT TO OUR LOYAL USERS
As a token of gratitude to our existing loyal users, any user that is already existing and did not use a referral code when registering may add one for up to one month after the launch of the new referral system to gain on the 10% bonuses. The $5 Dex bonus will not apply retroactively.
— Global Dropil Sidebar
Included in this update is a new robust pullout sidebar that will offer quick access to items such as your Dropil portal wallet transaction history, a full list of your past portal wallet addresses, and a complete history and overview of your referrals and earned bonuses.
To access the sidebar in any platform, click the two arrows in the top right corner, or hover over the settings icon and click the “Referrals” button. Click any of the images below to preview the new sidebar panels.
— Light & Dark Theme
We at Dropil believe design matters, and that all people are owed both light and dark themes for all apps! Function and form should coexist in harmony, because if it’s worth doing it should be done with the extra effort to be beautifully executed, after all, we spend lots of time on the platform and want our users to do the same.
With our perhaps overly judicious rant out of the way, we are pleased to announce that both Dropil Home and Dex 3.0 will have the options for switching between dark and light themes with more products to follow in this capability soon.
2. Important Update to System Calculations and Valuations
In the beginning of August, Dropil saw a change go into effect for the Dex valuation system that was meant to ensure a more fair and sustainable platform. The end goal of the change was to account for, and protect against, unsustainable swings that often occur to tokens pinned to Bitcoin; in addition Dropil features measurements against fiat such as $USD compounding these swings.
It has become clear that the solution put in place only protected the long term sustainability of the token from certain types of market movement, while leaving it susceptible in long running severe market downtrends, such as the one currently facing crypto. As always, we at Dropil were willing to put the satisfaction of our user base before short term financial burdens for the company and have continued to utilize the valuation at the expense of the company for sometime.
The current system has been causing payouts at a 3–5x multiplier or more from the vault as the overall crypto market downtrend has continued. While we here at Dropil do wholly believe in the long term success of crypto, we must add an amendment to the valuation to make it a more accurate and fair system to preserve the sustainability of a project that still has much to bring to the community.
Currently the average user’s Dex funds are valued at around $0.005 and yet Dropil is paying out at approximately $0.001X which is causing payouts between 3–5x more than should be due to the price difference.
The major cause of the lower price of the token stems from its BTC and ETH pairings dragging the price down and in is no way representative of a market sentiment against the token or project. This effect is seen across the entirety of the crypto market space sometimes to severe detriment and sometimes to astounding growth.
For example with current system in place: Dex earns you $100 USD value, yet we are paying you $400 in Drops because of the price difference in your Dex funds to current Dropil price. Example of payouts with new system in place, when your cycle ends and you get paid, you will receive X% of your total Drop balance in Dex, or X% of your total USD balance converted to Drops at current 24-h average, whichever is lesser.
X being whatever your payout percent is for that cycle. The displayed $USD value and payouts from Dex will be calculated the same way as they are currently as that remains an accurate reflections of Dex’s earnings. The amount of Drops received at the completion of a cycle is the only part affected by this amendment.
This update will go into effect on December 11th at noon (12PM) PST. The Dropil team will continue to work tirelessly to bring the best possible products and services to market despite up or down trends, we are here for the long haul!
Thank you for your Attentions❤