Stellar is airdropping $125M to Blockchain Wallet users | Auguring the U.S. Elections
|Nov 6, 2018|| 3|
“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.”
Read More on The Block (3 Minutes)
Around The Block
Auguring the 2018 U.S. Midterm Elections
U.S. elections are no strangers to prediction markets. Companies like PredictIt enable users and potential voters to take financial bets on politicians and the outcomes of political events. However, because traditional predictions markets are highly regulated, they are limited by the rules imposed on them. As an example, PredicIt limits the number of traders for a particular contract at 5,000 and limits the total investments made by a single trader on a particular contract at $850. — More
Crypto broker eToro confirms it is rolling out a wallet
eToro, the European cryptocurrency broker, announced Tuesday the launch of its wallet, a move that allows a few of its 10 million users to transfers coins off its platform.
Previously, customers of the firm could only buy and sell crypto but couldn't move those coins to their own wallets. That's a similar setup to Robinhood Crypto in the U.S., although the firm has also been looking into building its own wallet. — More
Survey: Nearly one-third of young German Internet users are willing to invest in cryptocurrencies — More
Bitfury raises $80 million funding round with an IPO on the horizon — More
Swiss financial watchdog recommends banks set crypto risk coverage at 800% — More
Bitmain announces new SHA256 7nm miners — More
The Block wants to understand who our readers are. Please take a few minutes to respond to our short survey. Your participation will give us a better understanding of our readers and what interests them! Please note that the survey results will be anonymized and aggregated. Please take the survey here.