Blockchain.com is running a massive awareness campaign in which they are paying out users a total of $125,000 worth of Stellar Lumens (XLM) tokens simply for signing up for their wallet, following a Coinbase initiative where users are paid $50 for learning more about the Stellar network and its technology. The announcement was made via the site’s blog.
The campaign is quite a significant one, and Blockchain.com’s own statement as to why they’re launching the campaign is as follows,
At Blockchain, we’re passionate about connecting the world to crypto and helping our users interact with crypto assets in a safe and easy way. 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.
As for why Stellar Lumens was picked, Blockchain.com said,
We’re starting with Stellar because its network is built for scalability. Its token, XLM, enables quick, low cost, worldwide transactions, even when millions of people are using it at once. Stellar can even create custom tokens representing real-world or virtual goods and services. Lastly, Stellar has a world class development community and a vibrant, functioning ecosystem.
Blockchain.com has partnered with the Stellar Development Foundation for this initiative. The exact amount of XLM tokens that users will be airdropped will vary, according to the official website, and additional giveaways appear to be in the works. To avoid users trying to claim more XRP than allowed, users will only be able to claim the initial reward once, after having signed up.
Blockchain.com has about 30 million wallet users and this new effort is a bid to drive adoption for both parties, and more generally give a greater swathe of investors a gateway into various cryptocurrencies.
Stellar is seen as something of rival to Ripple’s XRP, as it also used for cross border payments. The project recently announced that it would collaborate with IBM to help 6 banks release stablecoins and make use of the Stellar network. The XLM was also recently added to Coinbase Pro.