Blockchain Wallet Announces $125M Stellar Lumens (XLM) Airdrop

Cornelia Mascio
Novembre 9, 2018

Stellar is partnering with Blockchain, the world's top digital wallet for Bitcoin, to surprise each Blockchain wallet holders with $25 worth of Stellar Lumens.

The crypto wallet provider Blockchain on Tuesday said it will distribute cryptocurrency to millions of its users in what appears to be the largest such giveaway of its kind.

"Offer available until XLM giveaway supply is depleted". Giving away lumens [XLM] for free is an invitation to communities to design the services they need.

Blockchain.info has a crypto wallet where users themselves take care of their cryptocurrencies.

While some see this as a great way to bring new users into the XLM ecosystem, some Twitter users have criticized the requirement for users to hand over their identification, saying it contradicts the value of anonymity for crypto users.

The team at Blockchain wallet states that once identity has been verified after signing up on the wallet, $25 worth of XLM will be distributed to each individual. Participants must also reside in an appropriate legal jurisdiction for the airdrop. "By working with Blockchain to increase availability and active use of lumens on the network, we will increase the network's utility by many orders of magnitude".

"By working with Blockchain to increase the availability and active use of lumens on the network, leveraging their nearly 30 million wallets, we will increase the network's utility by many orders of magnitude". The generous give-away is meant to popularize Stellar and increase the attention from wallet holders to the technology and the company itself. Stellar is their first airdrop as a part of this program. Prior to Stellar's listing, the digital wallet had only supported Bitcoin and two other altcoins (Ethereum & Bitcoin cash).

Blockchain.com also announced that it will be partnering with a number of organizations on this airdrop, including the Stanford d.school's emerging tech initiative, Code.org, and Network for Good. Moreover, blockchain promises to release the details of these partnerships in the coming weeks. The announcement continued "The biggest #crypto airdrop-we are distributing $125M of Stellar XLM to our users to build on the crypto revolution".

Stellar had 100 billion lumens created at the genesis of the project. Now, it is the duty of the Stellar Development Foundation to oversee the distribution of 95 billion of these lumens.

While Blockchain's Stellar airdrop is big, it's still just a small phase of the distribution.

Do you think crypto giveaways will help to catalyze wider adoption of cryptocurrency?

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