#131 Official SmartCash Faucet

By JohanMarais

Summary

Objective: To introduce users to SmartCash: Faucets are a great way to help introduce new people to cryptocurrencies. A majority of faucets provide information to new users as well as offering them some free coins so that they can ‘try before they buy’, experimenting with a test transaction or two before putting real money on the line. Since this whole experience is so new and a bit complicated to people, who perhaps don’t quite trust it with their hard money, this is a beneficial way to promote digital currency and bring in new users.

Description

Amount: 
Σ 50 000.00 SMART per month

I would like to offer users the opportunity to make use of the SmartCash faucet system that will pay into any SmartCash wallets. Since this project will be funded by the community hive budget, it will be without any outside corporate advertising but might include advertising that directly promotes SmartCash. This might include the latest news and development within SmartCash and updates from other DAO’s.

Financials:
Monthly fee (ongoing): Σ 50 000.00 SMART
This is to keep the faucet funded and to ensure that users can claim their free SmartCash. It will also cover a 10% monthly maintenance fee to cover hosting and monthly advertising cost to further promote the faucet.

With regard to this monthly fee: (Σ 50 000.00 SMART x *0.140123) about $7000 at this time.
(90% will go towards faucet payout ($6300) and 10% will go towards a maintenance account ($700)

Faucet Payout ($6300)
Per claim payout will be calculated (weekly) with a formula to keep up with the coin growth but is currently set at a payout of 0.005 every 5 minutes. This will give a monthly average of about 9 000 000 claims.

Maintenance fee will cover($700)
$13 for Website Hosting,
$250 for the services of a consultant to monitor the faucet website for any bot or suspicious activities, (All steps necessary will be taken to ensure each claim is claimed by a person and not a bot)
$300 for advertising of the faucet outside of the Smartcash system,
$137 for any unforeseen expenses (any leftover amount will be put towards the next months advertising budget).

Unclaimed funds:
50% of unclaimed funds will be used to run various special promotions where users can claim a higher payout for a limited time duration. The other 50 % will be equally divided into the SmartRewards and SmartNodes (once available) program and any rewards out of these programs will be returned to the faucet for future growth.

Transparency:
A monthly expenditure statement will be made available and uploaded to the faucet website.

Timeframe:
Indefinite but will resubmit after the last milestone has been reached.

About Me
Some of you might know me, if you don’t, my name is Johan. I entered the online world in late 1997 as a user but in 2007 my life unexpectedly changed (You can read all about it on this website http://www.caringwheels.co.za) and I had to turn to the internet to generate an income. In early 2008 I started an online import business that specializes in photographic equipment. I later sold this to a competitor in 2011 after I managed to build a small online store into a multi-million dollar business in less than 2 years. Since then I’ve been involved in the crypto world and more specifically, I’ve been involved in the faucet world form late 2013 when I crossed paths with a faucet developer.

For the past 4 years, I’ve been making a living (well tried to for the most part) from cryptocurrencies. It only started giving me a return on my investment this year with the enormous growth the crypto world has seen over the last 12 months.

My biggest payoff (by more than 60%) in my personal portfolio comes from faucets. In my very first month of collecting from faucets, I managed to collect just under 0.5 bitcoin. This was when 1BTC was just under $90 compared to today’s $19 000

I for one is a HUGE supporter of faucets not only for the gains but also as a way to introduce new users to a currency.

Categories

Outreach

Milestones

Date Amount (US$) Amount (Σ) Description Status
January 03, 2018 5,932.20 2,030,546.93 * Faucet Funding for January 2018 -
January 30, 2018 5,932.20 2,030,546.93 * Faucet Funding for February 2018 -
February 27, 2018 5,932.20 2,030,546.93 * Faucet Funding for March 2018 -
March 30, 2018 5,932.20 2,030,546.93 * Faucet Funding for April 2018 -
April 29, 2018 5,932.20 2,030,546.93 * Faucet Funding for May 2018 -
May 30, 2018 5,932.20 2,030,546.93 * Faucet Funding for June 2018 -
June 29, 2018 5,932.20 2,030,546.93 * Faucet Funding for July 2018 -
July 30, 2018 5,932.20 2,030,546.93 * Faucet Funding for August 2018 -
August 30, 2018 5,932.20 2,030,546.93 * Faucet Funding for September 2018 -
September 29, 2018 5,932.20 2,030,546.93 * Faucet Funding for October 2018 -
October 30, 2018 5,932.20 2,030,546.93 * Faucet Funding for November 2018 -
November 29, 2018 5,932.20 2,030,546.93 * Faucet Funding for December 2018 -
* Estimated

Requested Amount

  • Total USD: 71,186.40
  • Estimated SMART: 24,366,563.11
  • Estimated BTC: 8.77196272

Schedule

  • Created Date: Wednesday, December 20, 2017
  • Voting Deadline: Wednesday, January 3, 2018 04:14:00 UTC
  • Payment Date: Payments will be made in accordance with the delivered milestones

Status

  • Not Funded

Votes

18.67%
Yes (509,455.54)
77.79%
No (2,122,257.09)
3.54%
Abstain (96,548.42)

Voting Audit

Address Voting Power Vote Is Valid

Comments

  • Smarthash 12/31/2017 01:08

    This would be cool, it would draw people to test smartcash?

    JohanMarais 12/31/2017 06:41

    Thanks for your reply. The faucet is active on marketbay.co.za