The Crypto wallet company, Blockchain.com will distribute $125 million in Stellar lumens (XLM), about a large portion of a billion tokens, to Blockchain wallet holders who apply to accept the airdrop. The first applicants will receive their tokens within a week, as indicated by an announcement Tuesday. The quantity of XLM being sent to every wallet was not revealed by the company.
While it may appear as a marketing method to help the company’s users base growth, Peter Smith said the airdrop is a mechanism to allow users to test the product in a safe way.
The project aims to build a trading platform and is supported, among others by billionaire VC fund Tim Draper.
Speaking about the Airdrop Peter Smith told CoinDesk:
“Looking back at the last five years of crypto, one of my favorite things has been giving users their first $20 of crypto and watching them realize the power of a new financial system in their hand as they saw their first transaction. But you can only do this for so many people in that fashion. The genesis of this project was; how do we help millions of people make their first transaction?”
On the other side McCaleb, the Stellar CTO described the process as below:
“We believe that airdrops are central to creating a more inclusive digital economy. Giving away lumens [XLM] for free is an invitation to communities to design the services they need. Our hope is to eventually have global citizens own and use lumens, in both developing and developed economies. By working with Blockchain to increase the availability and active use of lumens on the network, leveraging their almost 30m wallets, we will increase the network’s utility by many orders of magnitude.”
What do you need to receive the Free Stellar Lumens?
In order to receive your XLM, you must create a Blockchain Wallet or sign in your exiting Wallet and Verify your identity. Once your identity has been verified, you will be on the list to receive your XLM and future opportunities to get access to free crypto! We will be giving away XLM on a first come first rewarded basis. you will receive $25 worth of XLM. More info can be found here.