The Stellar Development Foundation has partnered with the Blockchain Wallet to airdrop $125 Million worth of XLM to the users of the wallet. According to The Block, the first batch of XLM will be distributed this week to all who sign up to use the Blockchain wallet.
The team at the Stellar Development Foundation is hoping that the partnership will further the adoption of XLM to rival other cryptocurrencies in the market.
Jed McCaleb, co-founder of Stellar, had this to say about the airdrop:
We believe that airdrops are central to creating a more inclusive digital economy. Giving away lumens for free is an invitation to communities to design the services they need.
By working with Blockchain to increase the availability and active use of lumens on the network, we will increase the network’s utility by many orders of magnitude.
$25 Worth of XLM Each
With respect to the value of XLM being airdropped per user, 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. There is also a first-come first-served clause in the airdrop that states:
Offer available until XLM giveaway supply is depleted. Limit of one XLM airdrop per person, unless participating in any bonus activities.
A person can receive the XLM airdrop in only 1 Blockchain Wallet. XLM is provided on a first come first rewarded basis, with priority for those with the oldest, completed (i.e., accounts with a verified email address) Blockchain Wallets.
Participants must have an eligible account, be willing to verify their identity, and reside in an eligible market or jurisdiction.
The list of eligible countries is available here. Once the airdrop is received, the owner is free to use it how they see fit.
Pending Coinbase Listing of XLM
After the listing of Ox (ZRX) and Basic Attention Token (BAT) on the popular American trading platform of Coinbase, speculation is high that Stellar (XLM) is the next digital asset to be supported. Earlier on in the year, Coinbase had expressed interest in listing the following digital assets: ZRX, BAT, XLM, Cardano (ADA) and ZCash (ZEC).
With ZRX and BAT being listed, the remaining three have been on the minds of many crypto traders.
Looking at XLM, it might be the biggest gainer of the bunch with the double good news of a Coinbase listing and the XLM airdrop that is sure to ignite interest in the digital asset in the markets.
What are your thoughts on the XLM airdrop? Do you plan on participating? Do you also believe XLM is next to be listed on Coinbase? Please let us know in the comment section below.
[Military air drop image courtesy of aviationvoice.com]
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