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Portfolio provider Crypto Blockchain plans to stage what defines the "greatest giveaway in history" with a $ 125 million launch.
The company will distribute $ 125 million in stellar lumens (XLM), nearly half a billion tokens, to all blockchain holders. The first group of recipients will see their tokens arrive by the week, according to an announcement on Tuesday.
Blockchain is partnering with Stellar as its first airdrop partner after releasing an airdrop program and a driving framework last month.
Blockchain CEO Peter Smith said the Stellar network was chosen because "built for scalability" and has "an active and growing ecosystem".
While for strangers it might seem like an effective way to increase customer growth and portfolio use, Smith said the airdrop is part of an effort to put "users first" and enable them to test, test, negotiate and negotiate with new, reliable cryptoassets in a safe and simple way. "
Smith told CoinDesk:
"Thinking back to the last five years of encryption, one of my favorite things was giving users their first $ 20 encryption and seeing them realize the power of a new financial system in their hands as they saw their first transaction. so many people that way. The genesis of this project was: how can we help millions of people make their first transaction? "
Blockchain is also working with the charity: water, Stanford d.school, code.org, Network for Good and IBM to help adopt XLM.
The co-founder of the Stellar Development Foundation, Jed McCaleb, said in the statement that the foundation believes that flights are the key to building a "more inclusive digital economy".
"Giving away the lumens for free is an invitation to communities to design the services they need," continued McCaleb. "Working with Blockchain to increase the availability and active use of lumens on the network, exploiting their almost [30 million] portfolios, we will increase the usefulness of the network by many orders of magnitude. "
XLM image through Shutterstock
The leader in blockchain news, CoinDesk is a point of reference that is committed to the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in criptovalute and blockchain startups.
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