Stellar pledges to give away $120 million in XLM to Keybase users

Stellar Lumens is planning a mammoth $120 million giveaway to users of Keybase, a messaging app to rival the likes of Slack

Stellar Lumens is planning another huge giveaway after pledging to airdrop $120 million worth of its premined XLM token to users of messaging app Keybase.

This is not the first time the five-year-old cryptocurrency has given away tokens. Coin Rivet reported on the company’s $125 million giveaway in November, which at the time was dubbed the world’s “biggest ever consumer giveaway”.

According to an official announcement on the Stellar blog, more than two billion XLM tokens will be airdropped to Keybase users. All users will have to do is authenticate their Keybase account and wait for the monthly airdrop to arrive.

The Stellar blog reads: “We first started working with Keybase because they have a great team, and they support our values of privacy, security, and independence from corporate behemoths. They’ve evolved into one of our strongest ecosystem participants. They’ve gone above and beyond integrating Stellar into their wallet, and their userbase would represent a big step up in usage and adoption for the network.

“Keybase has over 300,000 users right now. As people continue to realise that other group chat alternatives aren’t safe — Slack’s breach from 2015 is still pwning people today — Keybase will continue to grow. Stellar makes Keybase more powerful, and they do the same for us. We’re very excited to see what the future holds.”

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