Coinbase and Stellar Announce $100 Million Worth of XLM Rewards

Stellar joins the Coinbase Earn platform that pays users to learn about cryptocurrencies. One Billion Stellar Lumens (XLM) will be rewarded to the users who take the learning initiative.

The project will essentially roll out about $100 million worth of cryptocurrencies at the current XLM price ($0.107). These funds are being provided by the Stellar Development Foundation (SDF), a nonprofit organization that helps develop the Stellar protocol.

Eligibility Criteria

The program will currently reward only US customers for the initiative. Stellar Lumens worth $10 will be awarded to the Coinbase user who completes the tutorial and correctly answers a couple of questions based on the tutorial.

International customers can learn from the videos. However, they won’t be rewarded for their efforts like the US customers of Coinbase.

The US users also stand a chance to earn $40 by inviting friends to take up the initiative; Each successful referral would make $10.

Drive to Promote Development on the Stellar Network

Stellar provides a platform for the developers to integrate the current financial system on Blockchain using the Stellar Protocol.  It also aims “to tokenize existing assets and currencies such as US dollars and euros.”

The Stellar Network is primarily built on the unified ledger concept of Bitcoin based on Stellar Consensus Protocol. Hence, by promoting the learning initiative, the Foundation aims to attract the developers to build tokens and assets on the Stellar Network.

The blog post by Coinbase concluded with a positive note about the Stellar Network and also the XLM token.

“Coinbase’s mission is to create an open financial system for the world…Stellar’s goal of connecting banks, payment systems, and people more efficiently than today’s financial infrastructure is an example of how crypto can help achieve this vision.”

Please share your feedback on the program. Will the program earn enough community support for the Stellar Organization? 

The post Coinbase and Stellar Announce $100 Million Worth of XLM Rewards appeared first on Coingape.