Incoming! Great news today, as Stellar revealed the news that a BIG airdrop is coming towards Blockchain Wallet holders. The total value of the airdrop: $125 Million worth of XLM.
Airdrops have increased in popularity as an attractive alternative to the initial coin offering process, creating a shortcut to unleash a token into the market. Stellar is tying into this increasing popularity by creating its own airdrop. To make the airdrop possible, the Stellar Development Foundation has partnered with the Blockchain Wallet.
With the airdrop, the Stellar Development Foundation hopes to increase the adoption of XLM in the cryptocurrency space and become a bigger rival to other cryptocurrencies like XRP by Ripple.
Jed McCaleb, co-founder of Stellar, said 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.
According to Blockchain, this will be the largest airdrop in the history of crypto, and potentially the largest consumer giveaway ever. The Stellar Development Foundation (stellar.org) and Blockchain Wallet will distribute $125 million worth of Stellar lumens [XLM] to Blockchain’s users.
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. Furthermore, 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.”
Currently, XLM has a valuation $0,26 per coin on CoinMarketCap making it the 6th largest cryptocurrency in the crypto space.