#Keybase xlm airdrop registration#
#Keybase xlm airdrop free#

“These findings call into question the efficacy of airdrops, as most of the coins are sold immediately. “Furthermore, most people decide to exchange this new money for another one (either fiat, a stablecoin or Bitcoin) and only a few of them keep using the crypto asset by getting more of it on open markets or through other means.

#Keybase xlm airdrop free#

“Our analysis shows that despite it being literally free money, only a minority of the targeted population actually claim their airdrop money (1.2M addresses out of 30-40M wallets for, around 20% of Keybase users). Unlike the previous airdrop, only a small percentage ended up on exchanges.Ĭoin Metrics didn’t actually conclude that no one is interested in Stellar Lumens – they determined that airdrops simply don’t achieve their aims of improving “an asset’s decentralization, popularity, or usage.” That equates to around 19m of the 100m total being claimed. Of the 274,864 users who were sent a share of 100m XLM, less than one in five actually claimed it.Ĭoin Metrics defines ‘claimed’ if the account created by Keybase/Stellar showed any activity. In early September Keybase.io announced its own XLM airdrop. So if the aim was to get more people on board the XLM train, it didn’t work.

“This implies that many recipients of the airdrop sold their XLM in exchange for fiat or other cryptocurrencies. “The vast majority of the airdropped XLM that was sent to users was then sent to various exchanges,” Coin Metrics notes. At that time, Keybase had over 300,000 active users across the world, and it assured users of three months airdrop, Coindesk reveals. However about 300 million was flogged off straight away. On September 9, 2019, Keybase, in partnership with Stellar Foundation announced a monthly airdrop of 100 million XLM which was scheduled to span for 20 months. In March, as related by NewsLogical, Stellar and Coinbase also launched a 1 billion XLM bounty for users of the exchange platform.These accounts were credited with 400 million Stellar Lumens (XLM), worth $45.7 million at the time.

On September 9, 2019, Keybase, in partnership with Stellar Foundation announced a monthly airdrop of 100 million XLM which was scheduled to span for 20 months.Īt that time, Keybase had over 300,000 active users across the world, and it assured users of three months airdrop, Coindesk reveals. “While this giveaway mostly worked, it’s clear that there will be decreasing returns and massively increased effort required,” Keybase stated.Īfter giving out the last airdrop next week, the total amount disbursed to qualifying members in the Stellar Space Drop giveaway would be equivalent to 300 million Lumens (circa $16,000,000 USD). Hence Keybase decided to stop the giveaway, averring that the Stellar network has no intention of rewarding such people, and Keybase is also not interested in having them as its users. Keybase added that only legit, registered and qualified members will have the chance of getting the giveaway.Īs reported, Keybase mentioned that since last week, it noticed an influx of large fake people into the platform, to the extent that it exceeds the “capacity of Keybase or SDF to filter.” However, Keybase noted that it will give out 100 million Lumens next week as the reward for last month.

#Keybase xlm airdrop registration#

On Tuesday, December 10, the messaging service declared that it has closed registration for the Stellar Space Drop, and December will be the last month for the airdrop. The 2 billion XLM Stellar Space Drop giveaway announced by Stellar Development Foundation and messaging platform Keybase in September 2019 will be coming to end in the month of December, Keybase has stated.