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No Free Money: Stellar announces to cancel 2B XLM Airdrop Program

The Stellar Development Foundation (SDF) has announced to cancel the airdrop program of two billion XLM.

Keybase and the Stellar Development Foundation have together announced this news in a recently published blog post. They have said that they are going to finish the 2 billion XLM airdrop program.

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In the blog post, they claimed that this is going to be the last month of the Stellar Space Drop program and said that next week they will distribute 100 lumens among the users.

According to the blog post:

This month will be our last of the Stellar Space Drop. On the week starting Dec. 15, we will distribute the final 100 million Lumens among all qualifying members. The total giveaway amount will have been 300 million Lumens (approximately $16,000,000 USD).

Stellar Development Foundation, in order to distribute its funds among the qualified members on its platform, made a partnership agreement with Keybase which is a messaging, file sharing app that allows end-to-end encrypted chat.

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The plan of the SDF was to distribute these funds for the course of twenty months and they set an amount of $500 for each member.

The partnership provided a lot to both of these platforms as stellar was able to get more coverage and several new users signed up on the Keybase platform.

In the blog post, they pointed out the reason behind this shut down of giveaway program and said that the airdrop program was attacked by the fake accounts and hordes of people started to come in and it is not in our interests to reward those users. As they said:

Starting in the last week or so, hordes of fake people were beginning to come in, far beyond the capacity of Keybase or SDF to filter. It’s not in the Stellar network’s interest to reward those people; it is also not in the Keybase’s interest to have them as Keybase users.

Also, the Stellar Department Foundation said that the SDF has full right to end this program whenever they want to and if there are any legit registered users who claim to their reward they can get their share in the upcoming week.

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Adeline Gibbs

Adeline Gibbs is a writer and a vital contributor to Tokenhell. She always stay up-to-date with latest happenings in crypto world.

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