Excited to add #XLM to the @blockchain wallet today and announce a $125M airdrop – the biggest digital giveaway ever. We'll be giving millions of people their first $20 of crypto over the next few months ⚡️🚀https://t.co/S4ZkBLYwKX
— Peter Smith (@OneMorePeter) November 6, 2018
According to the announcement, XLM is the 4th digital currency available on the Blockchain wallet, joining Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH). Additionally, Blockchain has partnered with the Stellar Development Foundation to give free XLM to Blockchain wallet users
“Why are we doing this? We’ve already shared our thoughts on how Blockchain Airdrops are a great way for crypto creators to drive decentralization and adoption for new networks. We think they’re great for crypto users too. They let you test, trade, and transact with the next generation of crypto assets without having to buy them or mine them,” said Blockchain CEO and co-founder, Peter Smith, in the announcement,
However, this form of digital asset distribution may soon fall under regulatory scrutiny as the recent Tomahawkcoins (TOM) airdrop bounty program failed the Howey Test, a test used by the Supreme Court to determine whether an investment contract should be considered a security.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.