Stellar Development Foundation, the nonprofit behind Stellar Lumens (XLM) has formed a partnership with Blockchain, a popular wallet provider, to airdrop over $125 million in XLM to wallet users. The airdrop is open to anyone simply by registering for a Blockchain wallet. Each user will receive $25 in XLM through the airdrop sent to their Blockchain wallet. The goal of the initiative is to help promote both of these projects within the crowded cryptocurrency sector. Further, the team behind the airdrop notes on the registration page their motivation behind the airdrop stating, “by offering XLM to our users for free, we hope to build a bigger community of crypto users”. A similar thought can be seen from Blockchain, the wallet provider, as they have used a host of other promotional initiatives recently. These include strategic partnerships with Charity Water, Stanford d.school, code.org, and IBM.
The practice of acquiring new users for an emerging cryptocurrency has proven to be a challenge in 2018. The buzz behind initial coin offerings has faded and further increased this challenge. Both of which have helped make airdrops extremely popular as a new type of token distribution. An airdrop is essentially giving away free tokens to users to help attract them to a new platform or service. This is the basic premise of the XLM airdrop, as a means to promoting Stellar Lumens as well as Blockchain, the wallet provider. This XLM airdrop will represent nearly half a billion XLM tokens, accounting for 2.6% of the token’s total supply. With an expected reach of 30 million new users, it should help the XLM team generate a good bit of buzz about their project. XLM and Blockchain Wallet Promotion