Stellar
$0.23481 -4.82%
XLM · 1w

Can Stellar Airdrop Its Way to Decentralization?

There’s no such thing as a free lunch, but it seems the crypto world didn’t get the memo. Every week we hear about someone getting burned by a fake Twitter giveaway, and Initiative Q keeps claiming new converts. Now it looks like Jed McCaleb has been hacked too, and the Stellar Development Foundation is holding its own token giveaway. 

Luckily, this time it’s not a Twitter lookalike, and you don’t even have to send any XLM first. As the Foundation, paired with Blockchain, announced in a blog post:

We’re thrilled to announce SDF’s largest lumen distribution to date: an up-to-500 million XLM distribution to users of leading digital asset wallet provider, Blockchain. This airdrop will put the Stellar name and technology in front of Blockchain’s 30 million account holders, and will bring many new users into our ecosystem.

Each (KYC-verified) Blockchain wallet holder will receive 100 lumens (worth around $25), and the wallet creator will continue using airdrops like these to drive adoption. 

In addition to attracting new crypto users, the airdrop is expected to increase network effects and ultimately improve the utility of Stellar and other blockchain currencies. “Blockchain Airdrops are a great way for crypto creators to drive decentralization and adoption for new networks,” Blockchain said in a blog post. “We think they’re great for crypto users too. They let you test, trade, and transact with the next generation of crypto assets without having to buy them or mine them.”

It’s also expected to build the Stellar brand, and that goal is already being realized: the airdrop has already been reported by (among others) The Independent, Fortune, and Yahoo Finance, among others, as the most valuable give-away ever.

What’s the Catch?

Still, it’s worth giving taking a moment to look the gift crypto in the mouth, especially after the critical shake we gave to Initiative Q. 

This giveaway isn’t just coming from the goodness of Jed M...

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