CRYPTOMARKET

The $125 million Stellar lumen airdrop.

Crypto wallet provider blockchain is planning to stage one of the largest crypto giveaways in history with a $125 million dollar value airdrop.

They have announced that they will distribute nearly half a billion tokens to all Blockchain wallet holders.

Crypto wallet provider Blockchain plans to stage what it’s calling the “largest crypto giveaway in history” with a $125 million airdrop. The airdrop comes in the form of Stellar lumens (XLM) and the first recipients will receive theirs within a week.

Blockchain has teamed up with Stellar as its first airdrop partner after they announced their airdrop program last month.

The Stellar network was chosen as it’s “built for scalability” and has “an active and growing ecosystem” Blockchain CEO Peter Smith said.

Smith told CoinDesk:

“Looking back at the last five years of crypto, one of my favourite things has been giving users their first $20 of crypto and watching them realize the power of a new financial system in their hand as they saw their first transaction. But you can only do this for so many people in that fashion. The genesis of this project was; how do we help millions of people make their first transaction?”

Blockchain will also be working with charity:water, Stanford d.school, code.org, Network for Good and IBM to aid in adopting XLM.

Stellar Development Foundation co-founder Jed McCaleb stated in the release that the foundation believes airdrops are key to building a “more inclusive digital economy.”

“Giving away lumens for free is an invitation to communities to design the services they need,” McCaleb stated. “By working with Blockchain to increase the availability and active use of lumens on the network, leveraging their almost [30 million] wallets, we will increase the network’s utility by many orders of magnitude.”

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