Digital assets and blockchain technology are revolutionizing industries, introducing the public to innovative and cheaper solutions. One area that blockchain is currently looking to disrupt is commercial space travel.
Commercial space travel intends to bring the thrills of traveling to space to the public. While this is great news for space enthusiasts, the current system is flawed. Tickets are incredibly expensive, and the processes involved are tedious.
Thankfully, a newly launched blockchain project seeks to solve most of the challenges associated with space travel and lower the entry barriers for the average Joe.
What is the Space Coin Project
The Space Coin Project is a novel commercial space travel initiative designed to allow ordinary people to participate in the future of space travel. It aims to introduce the public to the exciting experience of commercial space travel via decentralization and fair pricing.
The project intends to create a fair and indexable market value for the cost of a trip to space. It also seeks to open up space travel for everyone by lowering entry barriers.
Thus, with the solution created by Space Coin Project, regular people can afford tickets and experience the thrills of a space flight. The project describes itself as the first Concierge service for space.
How Does it Work?
Users can gain access to space flight by purchasing the Space Coin Project (SPJ) token. Once they have accumulated enough, they can trade a specific number of their tokens to redeem the project’s concierge services and a ticket to space.
The team behind the project will then communicate with several affiliated space travel companies and present users with various travel options. When the user selects an option, the team and the SpaceDAO will extract liquidity in the form of ETH or USDC and burn both the SPJ extracted from the contract and those sent by the user.
Subsequently, the funds will be converted to fiat and used to fund the trip. Users do not have to deal with the hassle of booking a space flight, as they simply have to send their SPJ tokens to the platform and get their tickets.
The Space Coin Project will also provide users with air and hotel bookings via its concierge. In addition to redeeming their tokens for space flight tickets, users are awarded an exclusive NFT that commemorates their journey.
The NFT gives them access to a private Discord group of space travelers to share experiences about their adventure with others who have also made the trip to space.
The project has created a decentralized autonomous organization (DAO) dubbed the SpaceDAO to unite space travel enthusiasts. The SpaceDAO represents the broad spectrum of individuals fascinated with the stars.
The DAO is in charge of fairly burning tokens in exchange for liquidity to purchase tickets for various user trips to space. SpaceDAO also decides the number of SPJ tokens a user would need to redeem for a ticket.
SpaceDAO aims to be the first decentralized autonomous organization to join the Commercial Spaceflight Federation and other similar organizations. This will allow it to bridge the gap between businesses operating within the space travel industry and the everyday people who want to visit space but cannot afford to pay several millions of dollars for the experience.
The SPJ Token
SPJ is an ERC-20 token that powers the Space Coin Project ecosystem. It has a maximum supply of 5 billion SPJ tokens, with 2 billion units as the initial circulating supply.
Users can redeem their SPJ tokens for space flight tickets and exclusive NFTs to commemorate their trip.
Holders can stake their tokens to earn more SPJ. Aside from that, owning SPJ tokens allows users to participate in the SpaceDAO and vote on important decisions that could affect the project’s future, including changes to the liquidation process. Once users claim ownership of their tokens, they can join the SpaceDAO Discord and verify their ownership in the channel.
Conclusively, the Space Coin Project is a blockchain project that intends to make commercial space travel affordable for everyday people through decentralization and fair pricing.
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