Stellar Development Foundation and Keybase Jointly Launch $120M Airdrop
Ana Alexandre's original article for cointelegraph.com reduced by 40%
The Stellar Development Foundation, a non-profit founded to support the development of the open-source Stellar network, is launching a $120 million airdrop in collaboration with encrypted messenger Keybase. According to a Sept. 9 blog post, Keybase will be giving 100 million Stellar each month over the next 20 months to their users, which totals to 2 billion XLM, or almost $120 million.
Keybase will distribute XLM among its more than 300,000 users. Certain conditions may applyThe foundation states that eligible participants in the airdrop must have had a Keybase account before today's announcement or, if they are new to the messenger, must connect the Keybase account to a Github or HackerNews account that was registered before Sept. 9.The airdrop will run for a minimum of three months, after which the Stellar Development Foundation will determine whether the program is a success and should continue.
Stellar - which is a payment technology built on the Ripple protocol - is the 12th largest digital currency by market capitalization. Earlier in September, American asset management firm Franklin Templeton Investments filed a preliminary prospectus with American regulators for a government money market fund with a focus on blockchain-based shares on the Stellar Network. In July, the Stellar Foundation, Ethereum Foundation and Fidelity began supporting a new blockchain accelerator program called Startup Studio.
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