The Tezos Foundation Is Giving Away Free XTZ, But Why?

Earlier this week, we saw the Tezos Foundation releasing its “Faucet” report which is available to everyone who has a Tezos wallet. The ‘Tezos Foundation’s Faucet‘ allows users to enter their wallet address and complete the ReCaptcha puzzle to join a queue, where they receive up to 0.01 XTZ every 12 hours.

This is currently worth around $0.0148 and is down almost 90% from the all-time high of XTZ at nearly $11 per coin. Also, the Tezos news show that up to 10 addresses can receive the funds from the faucet at any one time, and those who have received Tezos tokens from the faucet are blocked for 12 hours before they are re-added.

According to the Tezos Foundation and its announcement, the faucet is aimed at developers and mainly intended for “testing purposes.” We can see that development faucets are nothing new now – but it is very rare that they are used to disburse real funds. Usually, they are reserved for dishing out testnet tokens.

Given the paltry payout, it is very unlikely that anyone should expect to get rich from this. The Tezos Foundation also advised that “no one” – not even the developers it was intended for – “should depend on the faucet’s continued availability.”

Tezos also reserves the right to “turn off or change the faucet’s parameters in the future.” Still, this is a sweet deal for anyone who is interested in trying out some tezzies. However, the deal may not be as sweet as airdrops where the crypto companies give users digital currencies for nothing and straight-up.

Speaking of which, recently the Coinbase news showed that the exchange along with Blockchain.com have given away a combined total of around $250 million worth of Stellar Lumens (XLM) over the past few years. Bancor also stepped up and gave some of its users $2.6 million in a new token called BNT at the start of the month.

All in all, the Tezos Foundation is making a good move and motivating its users to log in to the wallet more and stay in control of their funds. Even the website says “drink responsibly” and advises on the best use of the tokens.