Stellar plans to give away up to 2 billion XLM to Keybase users in the next 20 months.
The giveaway total, worth nearly $120 million, will be distributed in batches of 100 million XLM per month, according to an announcement from the Stellar Development Foundation.
“All you have to do is have an authenticated Keybase account, and your XLM will appear in your wallet — automatically, every month, for as long as the airdrop continues.”
To qualify for the airdrop, users either need a preexisting account with the encrypted group chat app Keybase, or a new account that you can connect to a GitHub or HackerNews profile that was registered prior to the announcement. Stellar has reserved the right to cancel the giveaway after three months, subject to “basic success metrics for the program.”
Keybase, which bills itself as “a free, secure alternative to Slack, WhatsApp, Telegram, and other chat apps,” currently has over 300,000 users.
“In the months since they first integrated Stellar into their chat, Keybase has developed by far the cleverest set of tools for our users. Just for example:
- inline, super convenient sends between friends, denominated in either XLM or USD
- and sending Lumens (and chats) to any phone number, even ones without a Keybase account”
Keybase has also created a bot-making framework that can use Stellar to fund new projects.
“Recently, a Keybase user made an XLM-based bot called @smsbot. If you send just a tiny bit of XLM to @smsbot, it will reply with a throwaway phone number you can use to receive SMS messages for a short period of time. It’s a really cool example of micropayments in action, and it’s exactly the kind of thing we hope to inspire and enable with this airdrop.”
Those who join the giveaway program now will get to participate month after month and earn more, though each individual’s earnings will be capped at $500.00 worth of Lumens, according to Keybase.