However, it was clear from the beginning that the airdrop could also be cancelled, perhaps because both companies foresaw evil.Īs we’ve said from the beginning, SDF reserves the right to end this giveaway early. So the end of the airdrop was triggered by too many fake accounts that were impossible to filter from the real accounts. It’s not in the Stellar network’s interest to reward those people it is also not in Keybase’s interest to have them as Keybase users. Why? 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. While this giveaway mostly worked, it’s clear that there will be decreasing returns and massively increased effort required. Keybase justifies this by stating that “hordes” of fake accounts have stormed the platform: As Keybase now announced, the last 100 million XLM will be distributed “to all qualified users” during the week starting December 15th. In September Keybase explained that an authenticated Keybase account is sufficient to automatically receive a certain amount of XLM on a wallet every month as long as the airdrop is running.
Termination because of “hordes” of fake accounts The aim of both companies was to promote the use of XLM on the Keybase messaging platform and to attract new users to the platform. The beneficiaries of the campaign were to be the more than 300,000 Keybase users worldwide. The XLM Stellar Space Drop Giveaway was initiated in collaboration by Keybase, a messaging and file sharing application and the Stellar Development Foundation. Originally, the Airdrop was supposed to run for 20 months. With that, the airdrop which was announced in September this year, will end surprisingly after a distribution of only 300 million Lumen (XLM).
With a short and concise announcement Keybase and the Stellar Development Foundation announced yesterday that they will immediately stop their 2 billion XLM airdrop (worth about 120 million US dollars). Due to an unmanageable flood of fake accounts, the campaign will be discontinued.Keybase and the Stellar Development Foundation (SDF) have announced the premature termination of their 2 billion XLM Airdrops yesterday.“Keybase believes Stellar can fulfill bitcoin’s original goal of fast, cheap, worldwide payments,” said a Stellar spokesperson. Keybase, it would seem, is taking a lesson from Twitter: working with an existing cryptocurrency instead of developing one in house. An early goal for Libra is that the stablecoin will be compatible with Facebook-owned messaging platforms.
The company’s WhatsApp, Instagram and Messenger services dwarf Telegram’s user count with some 2.7 billion potential users. As of now, multiple methods of sending cryptocurrencies already exist on the application as well through independent development.įacebook, of course, is also in the mix. Telegram, which claims to serve some 300 million users, plans on launching its hotly anticipated Telegram Open Network (TON) next month.
The airdrop partnership comes as other messaging apps ramp up their own cryptocurrency efforts. A spokesperson says Keybase is adding more features in the coming months, including on- and off-ramps and XLM-based payment functionality across the web. On Keybase, users can send Stellar to different users and phone numbers – including those without a Keybase account – or even make inline bets with friends.
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