![]() The Foundation is also holding a campaign with Coinbase to reward XLM through the exchange’s Earn program. Last year, the Foundation teamed up with to give away XLM totaling about $125 million at the time. However, it’s not certain that the entire 2 billion XLM allocation will be distributed through Keybase airdrops – the SDF guarantees three months of airdrops, but the rest will depend on the campaign’s success. Keybase explains that the purpose of this policy is to prevent people from abusing the airdrop by creating bot accounts.ġ00 million XLM (about $6 million) has already been distributed to 300,000 Keybase users. Not just anyone is eligible – the airdrops will apply to Keybase users that had an account with the service prior to the announcement of the airdrop campaign, or an account with either HackerNews or GitHub that was created before the announcement of the airdrop campaign. The airdrops will be coming in batches of 100 million XLM and will happen on a monthly basis. Encrypted chat app Keybase is pre-empting Facebook’s Libra coin with the biggest-ever giveaway of a rival cryptocurrency, Stellar Lumens.Like Libra, Lumens are designed for cross-border remittances. In total, 2 billion XLM tokens (about $120 million) have been allocated for distribution to Keybase users through the campaign. Keybase users can also send XLM to phone numbers, even when the recipients don’t have a Keybase account. Keybase has some very welcome features for Stellar fans, as Keybase users can send XLM between eachother through the program. Seeing a collaboration of this type is not too surprising, as Keybase announced in March of last year that it received funding from the Stellar Development Foundation. This time, the organization has partnered with Keybase, a messaging application that can be described as an alternative to Slack which uses end-to-end encryption. The educational initiative allowed users to get $2 in XLM for completing video lessons and up to $10 for their referrals that qualify and go through a lesson.The Stellar Foundation continues with aggressive distribution of tokens through airdrop campaigns. In March, Stellar announced that it is launching as Coinbase’s largest Earn partner-to-date, a program that allows users to earn cryptocurrencies while learning about them in a simple and engaging way. The airdrop will initially run for 3 months before the Stellar Development Foundation determines if the program was a success or not and if it should be continued. Each Keybase user is limited to receive a maximum of $500 worth of XLMs over the course of 20 months. Dixon said that SDF hopes that giving out free lumens would allow Keybase users to gain familiarity with blockchain and the Stellar network.Įligible participants must own a Keybase account, or if they are new to the messenger, they must connect their Keybase accounts to a Github or HackerNews account. Notably, Keybase is not crypto-native, which means its users are expected to have not much idea about blockchain. Because Keybase is doing this Airdrop, SDF knows that is Lumens are reaching real humans in a secure way,” she continued. “ We’ve built a way for people to prove identity, collaborate securely, and store cryptocurrency. Keybase provides the real people,” Denelle Dixon, SDF Executive Director and CEO, told The Block. Then, the remaining tokens will be distributed every 15th day of each month over the next 20 months.Īlthough the SDF-Keybase partnership is not new, the airdrop program is “ SDF’s mission to get Lumens in the world, into the hands of real people. ![]() ![]() To start with, the foundation is airdropping 100 million XLMs (~$6.1 million) to 300,000 Keybase users today. ![]() The Stellar Development Foundation (SDF), a non-profit organization behind the open-source Stellar blockchain network, is launching a $121 million airdrop in cooperation with encrypted messenger Keybase.Īs per an announcement, the organization will be giving away a total of 2 billion Stellar Lumens tokens (XLM), currently worth $121 million, to users of Keybase, an encrypted “ alternative to Slack, WhatsApp, Telegram, and other chat apps.” ![]()
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