Stellar Gives Away 2 Billion XLM Worth $120 Million

Stellar was recently in the news when it was revealed that the American asset management giant Franklin Templeton plans to launch a government securities investment fund built on the Stellar Network.

This company has $717 billion in assets under management, and it submitted a preliminary statement on the fund to the SEC, which describes the way in which it will use Stellar’s DLT.

Stellar plans to give away 2 billion XLM

Stellar is planning to give away up to 2 billion XLM to Keybase users in the next 20 months.

This giveaway is huge – about $120 million will be distributed in batches of 100 million XLM per month.

This was revealed by an announcement from the Stellar Development Foundation.

“All you have to do is have an authenticated Keybase account, and your XLM will appear in your wallet — automatically, every month, for as long as the airdrop continues,” according to the official notes.

You should read the complete announcement made by Stellar.

How to qualify for the airdrop

In order to qualify for the airdrop, it has been reported that users will have to own a preexisting account with the encrypted group chat app Keybase.

Users could also have a new account that you can connect to a GitHub or HackerNews profile that was registered prior to the announcement.

Stellar has reserved the right to cancel the giveaway after three months, subject to “basic success metrics for the program.”

Keybase, which calls itself as “a free, secure alternative to Slack, WhatsApp, Telegram, and other chat apps,” currently has over 300,000 users.

SDF said the following:  “In the months since they first integrated Stellar into their chat, Keybase has developed by far the cleverest set of tools for our users. Just for example:

  • inline, super convenient sends between friends, denominated in either XLM or USD
  • and sending Lumens (and chats) to any phone number, even ones without a Keybase account

The Daily Hodl online publication also revealed that Keybase also created a bot-making framework that can use XLM to fund new projects.

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