Blockchain plans to distribute $125 million worth of Stellar Lumens (XLM) to its 28 million users who register for the historic airdrop.
What a Stellar Idea!
Cryptocurrency wallet provider Blockchain is planning to host what it calls the “largest crypto giveaway in history.” The company intends to disperse $125 million in Stellar Lumens (XLM) to Blockchain wallet users who sign up for the airdrop.
The first batch of coins will be distributed this week.
At the moment, Blockchain has chosen not to disclose the amount of XLM to be given away during each airdrop. The airdrop program is designed to ease the pathway for crypto-newcomers as registering on exchanges, jumping through KYC hoops, and taking the risk of depositing funds on an exchange can be overwhelming.
According to Blockchain’s whitepaper:
Airdrops, on the other hand, provide a free and transparent way for anyone with an internet connection and a computing device to obtain crypto-assets at no cost.
Blockchain is of the opinion that airdrops have an incredibly wide reach and can assist with boosting cryptocurrency adoption and empowering those who lack access to traditional banking services.
Free Crypto Catalyzes Adoption
Blockchain president and chief legal officer Marco Santori previously said that “airdrops have the power to decentralize networks without the investment risks inherent in ICOs and the complexity inherent in mining.” In addition, CEO Peter Smith said that the airdrop is designed to “put users first” and allow them “to test, try, trade and transact with new, trusted crypto-assets in a safe and easy way.”
Ultimately, Blockchain hopes that the XLM giveaway and its airdrop program will raise awareness about cryptocurrency and its versatility. The wallet provider has also partnered with Stanford d.school’s tech wing, code.org, charity: water and Network for Good to further XLM adoption.
Do you think crypto giveaways will help to catalyze wider adoption of cryptocurrency? Share your thoughts in the comments below!