The Big Stellar Space Drop
2 Billion Lumens for Everyone
Just about $142 million USD
September 9, 2019
UPDATE #2 September 16: HackerNews and GitHub were both under attack by bad actors who hoped to game this by stealing other users' accounts. In cooperation with both of those sites, we've halted Space Drop registration for anyone who wasn't a Keybase user before Sept. 9. SDF and Keybase will discuss, while whining and moaning, how this giveaway can continue. (COME ON PEOPLE OF THE INTERNET, STOP SUCKING SO MUCH!)
At Keybase, we've blogged before why the Stellar network is our favorite cryptocurrency technology.
- Transactions take only 5 seconds
- Transactions cost a tiny fraction of a penny
- Stellar does not burn mountains of fossil fuels (see Ethereum or Bitcoin)
- We love Stellar's "path payments" system, where a person can send a token or currency to another user, magically transforming it to a different token in the process.
The last point is special, as Stellar handles currencies! I've got US dollars, and you want Japanese yen? No problem - 5 seconds later I've sent you yen, around the world.
As a surprise gift, the Stellar Development Foundation just starting sending 100 million Lumens, worth $7 million USD, to 300,000 Keybase users. There are lots of different tokens on Stellar, but Lumens are Stellar's native token, and SDF wants real people of the world to have them.
This surprise giveaway translated to something like $23.69 USD worth of Lumens for each active Keybase user. No strings attached, and those Lumens are going out now, to be delivered by Sept 13th or so.
But that's only the beginning.
SDF is dropping 100 million Lumens next month. And the month after that.
In total, they are giving 2 billion Lumens (roughly $142 million USD) out using Keybase over the next 20 months. On the 15th of each month (starting Oct 15, 2019), SDF will give the next batch, divided equally among everyone.
Those who join now will participate every month until the end. So people who join earlier will get more.
To qualify: you must have a Keybase account registered before this announcement OR if you're new to Keybase, you must connect your Keybase account to a GitHub account that was registered before this announcement. This is to prevent bot signups to Keybase.
And what is Keybase?
Keybase is a free, secure alternative to Slack, WhatsApp, Telegram, and other chat apps. It supports groups big and small, communities, and teams. Inside Keybase, all chats are end-to-end encrypted. Imagine if someone broke into Slack's servers and stole and published your company's or family's messages? It would be devastating. Keybase's encryption makes a cloud break-in impossible.
And because Keybase is powered by public key technology, it also can understand cryptocurrencies. So all you have to do is install the app, and you can register for the free Lumens.
Oct 15, 2019.
The Finest of Fine Print
- Each unique natural person can participate in the airdrop just once.
- No individual recipient will get more than $500 USD worth of Lumens.
- This is from SDF, and neither we nor they accept financial responsibility for failed attempts to collect. If you lose access to your account or "reset" it, fail to register correctly, or even if we have a bug...adios wealth.
- Similarly, if there's any bug in Keybase's Stellar wallet - which is new - and you lose your Lumens, we accept no responsibility.
- We don't control your private Stellar keys, so we really can't help you.
- SDF reserves the right to stop sending Lumens early, with one month notice.
- If something outside Keybase's or SDF's control prevents SDF from executing this giveaway, either in total or for specific users, we are sorry in advance. But we accept no responsibility for that.
- Basically, don't get mad at us if something goes wrong here. It's a gift.
- We reserve the right to blacklist users, even after registering. If you appear to use a bot or multiple accounts to sign up for Keybase, we'll blacklist you. Similarly, if you appear to use bot accounts on HN or Github, we'll blacklist you.
- If we have any technical issues, downtime, or anything like that, we will most likely extend giveaway dates. Attacking Keybase's meager servers won't get you more cryptocurrency, it'll only delay you and let more people in.
- The first month's giveaway was special, because many of the recipients didn't have Stellar wallets yet. If anyone from the first month _never_ activates their wallet (to accept their Lumens), the Lumens can be returned to SDF. We'll likely do that after 6 months or so.
...but everyone who signs up takes a tiny bit away from you. 😜