  A theory of drop-wise addition polymerization is developed. Because of the
linear growth of the reaction volume V, the system gives rise to a new type of
distribution function for cyclic species that can be expressed by the sum of
two terms: the conventional distribution term and a extra term due to the
dilution effect. The present result is an extension of the conventional
homogeneous polymerization that corresponds to a special case without the extra
term. Making use of the result we derive the gel point formula for this unique
polymerization. The theoretical result is compared with the recent
observations.
