Stellar Development Foundation to Airdrop $120 Million in XLM
The Stellar Development Foundation announced today that it is distributing 2 billion XLM (~$120 million) through its Keybase platform, which is described as a free, secure alternative to Slack, WhatsApp, Telegram and other chat apps.
NEWS! The Stellar Development Foundation is securely distributing 2,000,000,000 Lumens (~$120 million USD) using Keybase. It’s easy to collect & you never need to look at a cryptocurrency address (unless you want to). No pasting secret keys anywhere. https://t.co/iQqcXF6Nny pic.twitter.com/560W2VnGg8
— Chris Coyne (@malgorithms) September 9, 2019
According to the announcement, Stellar is planning to distribute 100 million XLM each month for the next 20 months, with payouts happening on the 15th of each month. To receive a share of next month’s airdrop, which is currently around 10,000 XLM per person, interested parties must create Keybase accounts.
“The foundation’s mandate is to deliver lumens [XLM] into the world. This is part of that plan. The up to 2 billion is a really great way. And we will have checks along the way,” Stellar Development Foundation CEO Denelle Dixon told CoinDesk in a recent interview.
To kick off the giveaway, Keybase conducted a surprise airdrop to its 300,000 users, each of which received just under $20 in XLM.
This isn’t the first large-scale airdrop conducted by Stellar. Back in November, Stellar partnered with Blockchain to airdrop $125 million to the company’s wallet users.
More: The Big Stellar Space Drop
Similar: Blockchain Wallet Adds Stellar (XLM), Announces $125 Million Airdrop
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
