Stellar development foundation airdropping $120 M

Stellar Development Foundation to Airdrop Worth $120 Million

The non-profit organization Stellar Development Foundation is teaming up with Keybase to airdrop crypto tokens worth $120 million. The foundation supports the growth and development of the open-source Stellar network. The latter is an encrypted social media messaging platform.

Keybase will distribute 100 million Stellar (XLM) tokens per month to its users for a period of 20 consecutive months. This amount will be equivalent to 2 billion XLM that is nearly $120 million. Over 300,000 Keybase users will become part of this distribution. However, there are some mandatory criteria for participants in the airdrop.

The airdrop participants must have a Keybase account before this announcement. Any new user of the messenger must connect its account with Github or HackerNews account that registered before September 9. The Stellar Development Foundation will test the airdrop for a period of three months. Subsequently, they will confirm the program’s success and will continue, the source states.

Recently, Binance announced to launch a token airdrop after its JEX acquisition. JEX will start a monthly airdrop of JEX token among the BNB holder close to the 30% monthly profit of Binance JEX from October. The exchange will start documenting each user’s lowest BNB balance from September to October. After the holding period ends, the total BNB holding ratio of each user will be calculated.