Coinbase Partners With Stellar Foundation to Give Away One Billion XLM
Coinbase has announced a partnership with the Stellar Foundation that will give away 1 billion XLM, worth $100 million, to users willing to take the time to learn about the currency.
Eligible Coinbase customers in the US will receive an email invitation over the next few days to earn up to $10 of XLM by viewing Stellar tutorials and answering quiz questions. By sharing their unique referral link, customers will also be able to earn up to $40 more of XLM by inviting four eligible friends to complete the lessons.
Under Coinbase’s “Coinbase Earn” program, users of the popular U.S.-based exchange will be able to participate in online modules that will simultaneously teach them about Stellar and blockchain–all the while earning XLM for their efforts. Users can earn $10 worth of XLM for watching a series of videos and lectures, and make an additional $40 through a referral system. According to the official update, Coinbase reports that 100% of the XLM being distributed will go to users, constituting one of the largest coin giveaways for the purpose of increased education. The funds will come directly from the Stellar Development Foundation (SDF), which is the non profit organization that helps develop the Stellar protocol.
Coinbase Earn is working with the Stellar Foundation to distribute one billion Stellar Lumens (XLM). 100% of the funds are going directly to Coinbase users to teach them how to use the Stellar protocol.
Despite the flack Coinbase received over the XRP listing in February, where some community members–including Weiss Ratings–questioned suspicious market behavior in the hours leading up to XRP being announced, Stellar’s addition to the exchange has gone more smoothly. Coinbase, through the most recent collaboration with the Stellar Foundation, continues its position as being a source of information and education for cryptocurrency, beyond just providing an exchange for market speculation.
Included in the official blog post detailing the giveaway is information about Stellar and the what the XLM currency is attempting to accomplish. The Coinbase blog reports that Stellar is a platform which aims to connect banks, payment systems and people in a way that is more efficient than the current practices.
The post continues,
Today’s global financial infrastructure has a communication problem. There are hundreds of different currencies and payment systems. Each one of these payment systems speaks a different language, so they have a hard time understanding each other. This can make moving money around the world slow and expensive.
Stellar is a protocol designed to solve this problem.
Coinbase highlights the decentralized nature of Stellar, a feature that they have regularly pointed to as criteria for new currencies being listed on their exchange. In particular, Coinbase points out that XLM is attempting to connect people, via money, in the same way that the internet allows the free flow of information.
Since the addition of XLM to Coinbase earlier in the month, the currency has managed to grow above the $0.10 price range. Already the currency is up 4 percent, as of writing, as most of the crypto markets see green.