Before I begin, I want you to look at this image. It’s an old image but a historical moment for cryptocurrency.
If you might not have realized yet, this is an old image of the original faucet for Bitcoin. To be more precise, how Bitcoin was originally distributed to a wider audience. Before there were ICOs, IDOs, Airdrops, ISOs, Launchpads and other common distribution methods for whatever shape and form of cryptocurrency, there was the faucet. A readily and immediately accessible means of distributing cryptocurrency that didn’t need anyone to shell out some of their hard-earned cash or crypto to get a chance to acquire it. You can also claim such a thing about free airdrops or giveaways, but what are the odds that such forms of distribution do not have major vulnerabilities? Especially with the mass usage of bots and alts for the sake of multiple participation? Or for those that engage in private/public sales that end up becoming rugpulls?
This tangent is what I would deem necessary with the recent updates regarding Space Token, specifically, it’s release of a faucet specifically made to distribute SPACE. If you want to visit the faucet, just click the image below. You’d need a DutchyCorp Autofaucet Account to use it as it uses your username as it’s address.
Why a faucet?
If you asked me that question, I would ask you back with a why not a faucet?
There are indeed many ways to distribute cryptocurrency and each and every one of them have their own success stories. But with every success, are hundreds of attempted scams and failures. With every legitimate public/private sale, are multiple rugpulls just happening somewhere else. Behind every successful airdrop, are multiple abandoned projects. There are definitely a lot of ways to distribute cryptocurrency, but there are more risks to it rather than rewards. Unless, of course, if you rely on faucets.
Think of a risk of acquiring cryptocurrency using faucets. I’m sure you may also be able to bring up one problem, that is if the project is abandoned. That’s it. Your time. Not your money, just your time.
Then what if the project shows promise and has no signs of getting abandoned, then what do you lose? Nothing.
You may then try to argue that isn’t this just like Airdrops? Sure, but when has a project, with no backing or substance, that is just distributed via airdrops ever been other than a rugpull or a failure, especially in today’s culture around cryptocurrency? I’m sure those projects had a public/private sale for funding. If not, it would take a MIRACLE for such a project to succeed today, but most miracles today are just memes and hype; wanting to be the next DOGE, but not realizing that they can never be that because DOGE still exists and will continue to do so.
Then what makes SPACE Token different from other cryptocurrency in faucets? It’s the fact that faucets were part of its planned methods of distribution than when most cryptocurrency distributed in faucets nowadays are just third-party distributors.
As for the question of why a faucet then. It’s because it shows effort and dedication, not only in the part of the devs but also the users.
It’s easy to make a website by just getting a template somewhere online then filling in the blanks. It’s easy to sign up on social media and just insert your credentials for an airdrop. It’s easy to setup an address where you will receive actual money and exchange it to those who gave it with a mere hope that this new coin or token will moon one day. As all these are relatively easy, all the more are they easy to be abandoned. It’s either easy on the devs, or easy on the users.
It takes effort and dedication to design a faucet that distributes small amounts of cryptocurrencies to multiple wallets while being willing to shoulder transaction costs. It takes effort and dedication to patiently engage with a faucet to acquire cryptocurrency until you have the minimum amount to withdraw. It takes effort and dedication to set-up multiple rewards for MERELY HODLING a cryptocurrency. And it takes effort and dedication to never give up on a project when many had tried to exploit it during it’s initial release. This is SPACE.
It may not be as distributed widely as other cryptocurrencies today, but it’s stable and secure which is what we honestly need today. Stable and secure as it took consideration of the weaknesses of faucets itself. It removed its susceptibility to get abused by bots and secured it through DutchyCorp registration, that is free and require not much effort to sign up in. Then, it introduces you to various crypto/money-earning methods with practically zero risks involved and with almost no barrier for entry. And at the top of it all, it reminds us of what cryptocurrency should really be about, which is for mass adoption by everyone who believes in its value, and not just for the rich, greedy, or opportunistic to take advantage of.
Source “by tokenthusiast”