On Drips, anyone can create a Drip List to flexibly send funds to a list of up to 200 open-source GitHub repositories and Ethereum addresses at a time. As project maintainers come to Drips to claim their funds, they themselves are asked to provide a list of other projects they depend on, and can choose to automatically forward a percentage of their earnings to them. In this article, we'll go over how you can create your very own Drip List with your critical dependencies, and start supporting it with a stream of any ERC-20 token.
If you haven't yet, learn more about the Drips Dependency Tree in our introduction.
Creating your Drip List
To create a Drip List, open the Drips App, connect your wallet, and navigate to Drip List → Create Drip List. You'll be asked to specify which up to 200 individual GitHub repositories, Ethereum addresses, or other Drip Lists you'd like to forward what percentage of funds. Then, you'll have a chance to immediately start supporting your list with a Support Stream. Once done, funds will start moving immediately, and within a week end up with the recipients you specified.
If you choose to include someone's elses Drip List on yours, make sure that you trust the list's owner, because they may at any point in the future change its recipients.
How funds flow through a Drip List
You can think of your Drip List as a personal "money router" that automatically splits any incoming funds to its recipients once a week. You yourself can establish one or more Support Streams to your own list.
A Support Stream on Drips is an ongoing stream of funds, with per-second settlement.
Let's say you'd like to support the projects on your Drip List with 500 USDC every month. To do so, you create a Support Stream to your list, configure it to stream 500 USDC over 30 days, and then top up your USDC balance on Drips with an initial amount. As soon as your account is funded, you'll see USDC funds stream to your list in real-time. The benefit of streams over monthly payments is that you're in full control: You can pause, alter or completely stop your stream even in the middle of the month. As your balance decreases, you can flexibly top up your Drips account with additional USDC to keep the stream running, or at any point withdraw any not-yet-streamed funds that are still on your Drips account.
Apart from supporting your Drip List with a Support Stream, you can also establish arbitrary Token Streams to any Ethereum address for any other usecase. To do so, head over to Streams → Create Stream in the Drips App.
Settlement of funds
While the stream to your Drip List is calculated per-second, funds in the global Drips Dependency Tree are automatically split once per week, resulting in effective weekly settlement. This means that any funds you stream to your Drip List end up with the projects on the list (and, if applicable, their dependencies) once per week.
You can at any point review the next settlement day within the Drips App's "Projects" tab, but please note that the settlement doesn't occur exactly at midnight, but rather at some point throughout the indicated day, roughly within the UTC time zone.
As a result of this, you can edit the recipients on your Drip List before the settlement day each week, and this will cause all funds sent to your list within the last settlement period to be split according to the new configuration.
If you'd like to learn more about the technical details behind the weekly settlement, you can read through our technical Drips inner workings article.
Supporting other Drip Lists
Drip Lists are nestable, meaning anyone can add anyone elses Drip List to their Drip List, and forward a specific percentage of its income to the projects contained on the nested list.