Finance

Token holders, the number of payments, trades and assets (information from stellar.expert)

Stellar Development Foundation (SDF), the non-profit organization behind the Stellar blockchain network, has set the stage for yet another sizable airdrop.

The organization is giving away 2 billion Stellar lumens (XLM) tokens, currently worth nearly $121 million, to users of Keybase, an encrypted “alternative to Slack, WhatsApp, Telegram, and other chat apps.” One XLM is currently priced at $0.061230. The airdrop follows a similar partnership between the SDF and crypto wallet provider Blockchain in the past, as well as with Coinbase Earn.

To start, the foundation is airdropping 100 million XLMs (worth ~$6.1 million) to 300,000 Keybase users. The rest of the tokens will be given away over the next 20 months on the 15th of each month, starting in October. Each batch will consist of 100 million XLMs.

Each Keybase user is entitled to receive a maximum of $500 worth of XLMs, according to the announcement. The limit per-person applies over the entire course of the airdrop, Dixon told The Block. Users need to have a registered Keybase account to qualify, a measure intended to prevent bot signups, said Keybase.

In November, the SDF also partnered with Blockchain, the largest cryptocurrency wallet app provider, to airdrop $125 million worth of XLMs to Blockchain customers. At the time, the non-profit hoped that Blockchain’s over 30 million wallets would help with XLM adoption as compared to rival cryptocurrencies ether (ETH) and XRP. The SDF also has a partnership with crypto exchange Coinbase’s Earn program, which incentivizes users to learn more about crypto by distributing currencies to those who test decentralized protocols, take quizzes and complete tasks on the platform.

The SDF’s latest giveaway comes with a condition though. The campaign will run for at least three months, “with subsequent months subject to basic success metrics for the program,” per the announcement.