The Stellar Development Foundation has big plans in motion, aiming to distribute 2 billion XLM to the community through Keybase.

This major initiative seeks to advance the Stellar ecosystem by launching an expansive airdrop campaign.

Launched on September 9th, the Stellar Development Foundation, established in 2014 to boost the Stellar network's growth, disclosed plans to distribute substantial funds to Keybase users over an extended period.

2 billion Stellar lumens (XLM)

Throughout the next 20 months, users of Keybase, a well-known platform for linking encryption keys to their public profiles, can look forward to receiving these airdrops.

During a campaign that lasts at least three months—subject to interest—100 million Stellar lumens will be dispatched to verified Keybase accounts monthly. This strategic giveaway currently amounts to about $6 million USD each month.

XLM

Keybase stands out for appreciating Stellar’s eco-friendliness, having previously supported Bitcoin and Zcash addresses. By March 2018, the Stellar Development Foundation began backing Keybase, promising forthcoming significant developments related to Stellar.

Why Stellar and Why Now?

The Stellar Development Foundation aims to capitalize on Keybase’s bot-making infrastructure by incorporating Stellar’s swift and efficient mechanisms, creating numerous exciting opportunities. For example, a user-designed bot, @smsbot, lets you access temporary phone numbers through micropayments in XLM—a hallmark of innovation this airdrop seeks to inspire.

This synergistic partnership between Keybase and the Stellar Development Foundation aims to drive growth and mutual benefit.

Praising Keybase's integration of Stellar into their wallet, the Foundation notes the significant boost Keybase’s clientele could provide to Stella’s network expansion.

open up new use cases

Favored by Keybase due to its reduced energy consumption, Stellar operates via the Stellar Consensus Protocol (SCP), avoiding the energy-heavy proof-of-work mining process. This choice addresses concerns over cryptocurrency’s environmental footprint.

Keybase was concerned about Bitcoin’s heavy energy use and potential regulatory pushbacks linked to environmental impacts. They view Stellar as a sustainable alternative, reducing future climate change-related backlash.

The Stellar Development Foundation continues to push its project’s limits, branching into new ventures.

In a February initiative, the foundation awarded a significant grant to SatoshiPay, a crypto payments startup, targeting the incorporation of micropayments into Axel Spring SE's German media empire, as detailed by SatoshiPay's CEO, Meinhard Benn.

A year after that announcement, Keybase incorporated Stellar wallet capabilities, allowing users to seamlessly transact XLM within its secure chat environment. This newly unveiled airdrop further solidifies the bond between Stellar's budding network and Keybase’s expansive user base of over 300,000.

Last spring, Keybase said it was keen on the Stellar project

Furthermore, the foundation's backing enabled Lightyear Corporation to acquire Chain, a distributed ledger firm previously under VISA's banner, rebranding it as Interstellar to enhance Stellar’s network with private blockchains.

William M. Peaster, an experienced writer and editor, immerses himself in Ethereum, Dai, and Bitcoin analyses within the cryptoeconomy. His works regularly appear in publications like Blockonomi, Binance Academy, and Bitsonline. Enthusiastic about tracing smart contracts and learning Solidity, connect with him on Telegram at @wmpeaster.

With Ripple (XRP) and Stellar (XLM) making waves again, the ongoing debate is whether they can surpass Rexas Finance (RXS) in the race to 2025.

Expanding the Reach of Stellar

Dojima Network is hard at work establishing the groundwork for a genuinely interconnected Web3.

MEXC has released its 2024 annual report, boasting a $100 million airdrop distribution alongside hitting its 30-million user landmark.

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