Stellar is airdropping $125M to Blockchain Wallet users | Auguring the U.S. Elections

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“We believe that airdrops are central to creating a more inclusive digital economy.” — Jed McCaleb, Co-founder Stellar

The Big Block

Stellar Development Foundation, the nonprofit organization behind Stellar, announced Tuesday a partnership with Blockchain, a popular cryptocurrency wallet provider, to airdrop $125 million worth of Stellar lumens (XLM) to Blockchain’s customer-base. 

The first batch of lumens will be distributed this week to all Blockchain Wallet users that sign-up. Stellar is hoping Blockchain’s 30 million wallets will help with its adoption compared to rival cryptos, including XRP and Ethereum. Airdrops have become increasingly popular as a method to give away tokens in order to widen distribution and spur development in the community. Giving away $125 million in XLM will mark the largest airdrop in the history of cryptocurrency. Dfinity facilitated the second largest airdrop, distributing $35 million in June.

Stellar co-founder Jed McCaleb, who also founded Mt. Gox and co-founded Ripple, said: “We believe that airdrops are central to creating a more inclusive digital economy. Giving away lumens for free is an invitation to communities to design the services they need. By working with Blockchain to increase the availability and active use of lumens on the network, we will increase the network’s utility by many orders of magnitude.”

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