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Blockchain to Airdrop $125 Million in Stellar Lumens (XLM) to Wallet Users

Blockchain, the Luxembourg-based firm, has partnered with Stellar to conduct an airdrop for their wallet users. $125 million worth of XLM tokens will be given away for free.

Stellar Lumens Airdrop

Blockchain, one of the oldest cryptocurrency firms and the creators of the wallet with the same name, has partnered with Stellar Development Foundation for conducting an airdrop of Stellar Lumens (XLM). As part of the airdrop, tokens worth $125 million will be distributed to the users of the blockchain wallet.

An airdrop is a marketing strategy adopted generally by blockchain start-ups to gain attention and new users by distributing cryptocurrencies or tokens for free to a large number of users.

The firm has announced the details of the airdrop on its official website. The mutually beneficial exercise will help increase the users for both firms.

Stellar Lumens is among the top six cryptocurrencies and currently commands a market capitalization of over $4.92 billion. XLM is designed for financial transactions and facilitates instant and low-cost money transfers across the globe. At the time of writing, the price of XLM is hovering over $0.25.

The Intent Behind the Airdrop

The announcement, elaborating on the purpose behind the token distribution, says:

At Blockchain, we鈥檙e passionate about connecting the world to crypto and helping our users interact with crypto assets safely and easily. The first step to becoming an active participant in the crypto ecosystem is getting a crypto asset. By offering XLM to our users for free, we hope to help build a bigger community of crypto users.

Both firms are taking aggressive steps towards increasing their footprint. Blockchain had recently partnered with Ledger, the hardware wallet manufacturer, to launch a hardware wallet.

Last month, Live Bitcoin News had also reported about real estate firm Collier International鈥檚 intention to use a Stellar-based tokenization platform, Sm...

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