![]() Originally, the Airdrop was supposed to run for 20 months. With that, the airdrop which was announced in September this year, will end surprisingly after a distribution of only 300 million Lumen (XLM). With a short and concise announcement Keybase and the Stellar Development Foundation announced yesterday that they will immediately stop their 2 billion XLM airdrop (worth about 120 million US dollars). Due to an unmanageable flood of fake accounts, the campaign will be discontinued.Keybase and the Stellar Development Foundation (SDF) have announced the premature termination of their 2 billion XLM Airdrops yesterday.Users can also use the wallets to buy Stellar (XLM) in the future. The application now has a crypto wallet and it is in this wallet that the tokens will be airdropped. Keybase users are able to send and receive XLM tokens to and from other users. Keybase has placed come features on its application to enable the seamless integration of the Stellar network. Keybase has put in place this eligibility criterion to prevent bot signups on the application in the wake of the token distribution. A user needs to have a registered Keybase account for them to be eligible to receive a portion of the XLM tokens. Keybase is not a crypto based application, and the offer of free XLMs will bring familiarity with blockchain and cryptocurrency to users of the app.Įach of Keybase’s users will receive no more than $500 worth of XLM by the end of the airdrop initiative. The partnership between Keybase and SDF will see users of the messaging application engage with cryptocurrencies, a feature that hasn’t been available to them. In 2018, Keybase received funding from the foundation.ĭenelle Dixon, CEO and executive director of SDF, said that the partnership with Keybase will ensure that Lumens are distributed into the world and into the possession of people who will make use of them. ![]() This is not the first time that the SDF has worked with Keybase. The foundation recently entered a partnership with Blockchain, a crypto wallet provider, and another with Coinbase Earn. The SDF has been building partnerships with blockchain and crypto related businesses over the course of the year. The drops have been scheduled for the 15th of each month and each of the drops will see 100 million XLM being distributed. The rest of the tokens set aside for the airdrop will be distributed over the course of the next 20 months. The first phase of the airdrop will see 100 million XLM tokens being distributed among 300,000 Keybase users.Įach XLM is worth $0.061230, and the first batch of these tokens being issued is worth about $6.1 million. Keybase is an encrypted messaging application which has been described as an alternative to applications such as Telegram and WhatsApp.Īll individuals that are registered on Keybase are entitled to the XLM tokens being given away. The XLM tokens being airdropped to Keybase users are currently worth $121 million, and they will be used as rewards for these users. ![]() The foundation is a non profit organization, and it is the organization behind the Stellar blockchain network.Īccording to the announcement by the SDF, 2 billion XLM will be given away to users of Keybase. Stellar Development Foundation (SDF) has announced that they will be conducting an airdrop of Stellar Lumens (XLM) over the next 15 months.
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