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1 week ago

Stellar to airdrop 2 billion XLM crypto tokens worth $120 million


 
A 2 billion XLM airdrop announced on Monday by the Stellar Development Foundation and messaging service Keybase, the largest in Stellar’s five-year history which worth roughly $120 million. 
 
According to the company, Keybase users can expect monthly airdrops of 100 million XLM over the next 20 months. Presently, Keybase  has 300,000 active users across its various services. 
 
Quoting  a draft blog post shared with Blockchainafrica.io :
 

Actually, what you need to do is have an authenticated Keybase account, and your XLM will appear automatically  in your wallet, every month, for as long as the airdrop continues,” 

Three months of airdrops are guaranteed, with the program’s continuation as beyond that dependent on hitting “basic success metrics.” the company says, 
 
The CEO of Stellar Development Foundation, Denelle Dixon said that Keybase is a key part of its larger adoption strategy:

The foundation’s mandate is to deliver lumens [XLM] into the world as part of the plan. The up to 2 billion is a really great way. And we will have checks along the way.”

For quite a while, Stellar and Keybase have worked together starting with a March 2018 investment from Stellar large enough to close Keybase’s Series B funding round.
 
This is obviously a kind of project that upholds it's vision and not only in keybase users Dixon said the airdrop is an investment not only in Keybase users . 
Dixon said, Keybase’s 300,000-strong user base shares a lot in common with crypto.

Dixon said referring  to the airdrop. “It demonstrates that we think this is a valuable opportunity for users of Keybase to get to know us. They aren’t crypto-first anyway.”
 
Since its adoption of Stellar in May 2019, the airdrop has been coinciding  with multiple Keybase feature upgrades.
 
Users can actually send Stellar to different users and phone numbers which includes those without a Keybase account or even make online bets with friends as well.

 A spokesperson says Keybase is adding more on- and off-ramps and XLM-based payment functionality across the web and more features in the coming months. 

As other messaging apps ramp up their own cryptocurrency efforts, comes the  airdrop partnership.
TON , (Telegram Open Network Telegram), Telegram which claims to serve some 300 million users, plans on launching its hotly anticipated TON by next month. 

Presently, multiple methods of sending cryptocurrencies already exist on the application as well through independent development.

Facebook, definitely , is among in the type of project. The company’s WhatsApp, Instagram and Messenger services dwarf Telegram’s user account is up to about 2.7 billion potential users.
 
 An early goal for Libra is that the stablecoin will be compatible with Facebook-owned messaging platforms.
 
Keybase,  seems to be  working with an existing cryptocurrency instead of developing one in house as it takes a lesson from Twitter:
 
Stellar spokesperson added that:

Keybase believes Stellar can fulfill bitcoin’s original goal of fast, cheap, worldwide payments,”  


Credits: William Foxley

Florence Anusionwu


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