Announced today in a CoinDesk interview, the crypto wallet provider ‘Blockchain’ says that it’s going to airdrop $125 million in Stellar lumens (XLM) to all Blockchain wallet holders who sign up.
They’re calling it the “largest crypto giveaway in history.”
Almost a half a billion Lumen tokens are going to be distributed, and every one of Blockchain’s 30 million wallet users are going to get a slice of it. Blockchain did not disclose the exact amount of tokens that are going to be dropped into each wallet, but the first drops will begin this week.
Why the Airdrops?
Not only is this exciting news for wallet holders, but it marks the first installation of Blockchain’s new framework regarding airdrops. Last month, Blockchain published a new white paper on why they believe airdrops are important for the crypto community. Blockchain believe’s that airdrops will increase user activity and engagement while enabling users with the ability “to test, try, trade, and transact with new, trusted cryptoassets in a safe and easy way.”
Jed McCale, Stellar’s Development Foundation co-founder, stated that he believes airdrops are important in the building of a “more inclusive digital economy.”
Blockchain’s partnership with Stellar marks the first of many partnerships that are to come with Blockchain’s new airdrop program. Peter Smith, the CEO of Blockchain remarked that Stellar was chosen because of its “active and growing ecosystem” and that it’s “built for scalability.”
Smith also told stated,
“Looking back at the last five years of crypto, one of my favourite 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?”
The Blockchain company seems to be aiming high when it comes to improving upon the crypto community. Not only are they handing out nearly a half a billion XLM’s for free, but they are also engaging in numerous charity acts in attempts to “boost adoption of XLM”.