Stellar Performance: Blockchain Wallet gives away US$125 million XLM

Singapore, SINGAPORE – Blockchain Wallet wants to thank it’s approximately 30 million wallet users with the biggest airdrop to date. That’s US$125 million of Stellar (XLM) tokens. Often overshadowed by Ripple’s XRP, Stellar has similarities that makes it a platform connecting banks, payment systems with fast integration. Its aim is to work with developing markets instead of financial institutions and this is where it differs from Ripple.

Jed McCaleb is the founder of Stellar and his past extends to Ripple and even notorious exchange Mt. Gox.  The reasoning behind this Blockchain Airdrops initiative is that it spurs adoption and allows the discovery of assets by new users. There are also partnering with Stanford school’s emerging tech initiative, Network for Good, and Code.org which is a brilliant site for children to learn to code. Simply register to join the waitlist.

It isn’t indicated how much each sign-up will receive and it makes sense for a wallet provider to do so as it simplifies the process immensely. The token has hints of making small gains and looks like it could scale the US$0.30 mark with more than US$70 million in daily traded volume.

“We believe that airdrops are central to creating a more inclusive digital economy.”

“Giving away lumens [XLM] for free is an invitation to communities to design the services they need. Our hope is to eventually have global citizens own and use lumens, in both developing and developed economies. By working with Blockchain to increase the availability and active use of lumens on the network, leveraging their almost 30m wallets, we will increase the network’s utility by many orders of magnitude.” – Jed McCaleb

While most will balk that this could lead to a massive sell-off once all XLM tokens are received. It could be possible that they are gaming that traders would stock up before that happens and thus initiate FOMO when they luck out of the airdrop of the sixth largest cryptocurrency in the world. Thankfully, the distribution will take place over several months with existing Blockchain Wallet users given priority to receive XLMs first.