Stellar Development Foundation hands out 2 billion XLM to Keybase users

The non-profit organization Stellar Development Foundation (SDF), which supports the Stellar blockchain, plans to distribute 2 billion XLM tokens to Keybase users for free.

The organization will distribute 2 billion XLM tokens, which currently cost nearly $ 121 million, to Keybase users, “alternatives to Slack, WhatsApp, Telegram and other chat applications.” Last year, SDF conducted a similar distribution of tokens with the Blockchain cryptocurrency wallet operator.

This week, the fund will hold a free distribution of 100 million XLM tokens worth $ 6.1 million to 300,000 Keybase users. SDF will distribute the remaining tokens in batches of 100 million in the next 20 months – the 15th day of each month, starting in October.

“We have created a system that allows people to verify their identity, safely collaborate and store cryptocurrency. Since Keybase supports the free distribution of our tokens, SDF can be sure that XLM will reach real people, ”said Denelle Dixon, SDF CEO.

According to Dixon, unlike previous similar SDF partnerships, Keybase users are not familiar with the blockchain. “By providing free XLM, SDF hopes Keybase users can get to know the blockchain as well as the Stellar network,” she said.

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Each Keybase user is eligible to receive a maximum of $ 500 in XLM. In this case, users must have a registered Keybase account in order to qualify for tokens. Keybase also added some features to integrate with Stellar.

“Users will be able to send XLM to friends on Keybase,” Dixon said. “Keybase has wallets for users, and tokens will be transferred to these wallets.”

The campaign will last at least three months, and the fate of the distribution will be decided by the results of the first months. According to the organization, the mission of SDF is to expand global access to financial services globally.