Tezos Foundation Is Giving Away Free XTZ From Today

By Kapil Gauhar

Earlier this week, the Tezos Foundation has launched a XTZ faucet aiming to giving away free virtual currency to anyone who lists his wallet address and passes a captcha.

The Tezos Foundation’s Faucet sends up to 0.01 XTZ per claim to any user’s wallet. The claims for the same can be made every 12 hours, meaning that the users can claim two times in a day. 0.01 XTZ is, at this point of time, roughly worth $0.015, as one XTZ is currently trading at about $1.5.

The website of Tezos Foundations notes that nearly 10 Tezos addresses could receive funds from the faucet at one time. It also notes its purpose, which is to let the developers use XTZ tokens on the mainnet. Where faucets is aimed at giving away free tokens to the developers are nothing new, on the other hand, these usually give away testnet tokens, which are not real mainnet tokens with an actual market value.

Nevertheless, the Tezos Foundation points out that the XTZ faucet was first created to test purposes and that no one ‘need to be dependent on this faucet’s continued availability.’ Tezos might itself ‘change or turn off the faucet’s parameters,’ in the future.

Likewise with other digital currency faucets, no user will get rich off of the free XTZ being distributed, yet it’s an incredible method to test the digital money as well as its utilization cases. According to the reports, cryptocurrency trades have been propelling XTZ staking choices.

As Tezos has a proof-of-stake accord calculation, anyone with a couple of tokens can gain income this way. However, most of the platforms have a base holding requirement to let users stake their tokens, a prerequisite that at 0.01 XTZ per 12 hours might be difficult to meet.