- Keybase.io is distributing was is likely the biggest airdrop in the cryptocurrency market as of yet
- The website claims it will distribute more than 2 Billion Stellar Lumens, the native token of the Stellar blockchain
- The airdrop will take place over 20 months
The first edition of the 2 billon Lumens airdrop is underway. On 15th November, Keybase, a messaging application built on the Stellar Blockchain started the distribution of the planned airdrop. In partnership with The Stellar Development Foundation, they will distribute 100 million Lumens each month, divided equally among all qualifying of the Keybase messaging application.
Keybase is a freeand secure alternative to Slack, WhatsApp, Telegram, and other chat apps. It supports groups big and small, communities, and teams. Inside Keybase, all chats are end-to-end encrypted. Imagine if someone broke into Slack’s servers and stole and published your company’s or family’s messages? It would be devastating. Keybase’s encryption makes a cloud break-in impossible.
This announcement was made in September, and since then, more that 300,000 accounts have been created with Keybase, all in anticipation of the rewards. Out of the total accounts, only 150,000 received the first airdrop, owing to the threat of multiple accounts being created by the same entities.
All this is part of the Stellar teams long term adoption plan. Recently, tthe Stellar Development Foundation’s CEO Denelle Dixon disclosed that they have burned 55 billion Lumens (XLM) tokens which is half of the overall cryptocurrency supply. Effectively limiting the supply and in the long run, increasing the value of the existing tokens. The Stellar foundation will still allocate 6 billion tokens to be given away through partnerships with apps that have meaningful market traction, 2 Billion of which will be handled by Keybase.