People are getting ready for the “biggest giveaway in history,” as Blockchain, a prominent crypto wallet provider, will airdrop nearly half a billion Stellar Lumens (XLM) tokens to holders of wallets in the platform, as specialized site Coindesk reported today.

The total of XLM tokens to be distributed among the Blockchain community amounts to approximately $125 million, and they are destined to those people who sign up for the airdrop.

For those that are not familiarized with the term, airdrop consists on a blockchain or crypto project giving away free tokens to community members with the intention of spreading awareness about the crypto world and the specific initiative, and getting the maximum number of people interested in digital assets, according to Investopedia.

Details of the Giveaway

The reports surging today stated that the first batch of “lucky people” getting their XLM tokens for free will receive them later this week. It is not yet known how many XLM will be “dropped” to each account.

Blockchain’s airdrop program is quite famous by now, with its framework and modus operandi being announced several weeks ago. Stellar, therefore, becomes the first cryptocurrency associated via the partnership with the giveaway project of the firm.

According to Blockchain’s CEO Peter Smith, he has seen the power that giving people their first “$20 worth of crypto” can have in welcoming more and more potential investors in the community. “They realize the power of a new financial system in their hand as they saw their first transaction.” Smith confessed that he thought about what he could do to help “millions of people make their first transaction,” and he and fellow project managers came up with the airdrop initiative.

“A Platform Built for Scalability”

The Airdrop Program is also a testament of the platform’s scalability, thinking about how many new customers will be welcomed to the Stellar network if the project proves to be successful. Smith and the Blockchain wallet chose Stellar because, as they stated, “it is built for scalability and has an active and growing ecosystem.”

Smith, quoted by Coindesk, wants the airdrop to have a lasting effect in people, letting them “test, try, trade, and transact with new, trusted cryptoassets in a safe and easy way” while also providing a boost to the growth and usage of the wallet.

The Blockchain wallet also has alliances with charity: water (a Stanford d.school’s tech initiative,) code.org and Network for Good to increase adoption of Stellar Lumens (XLM) around the world.

In an industry where the fear to start still exists, an initiative such as Blockchain and Stellar’s airdrop is sure to bring down some barriers and promote adoption of cryptocurrencies as a means to trade and invest.

Jed McCaleb, who is the Co-founder of the Stellar Development Foundation, stated that airdrops are critical elements to develop a more inclusive digital economy. He said that the XLM giveaway invites communities to design “the services they need,” and that working alongside Blockchain will make sure that more lumens are available on the network and, thus, will boost the utility of the platform.

By Andres Chavez

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