In the past, precisely in June 2017, Stellar had also carried out another airdrop, with more success, giving over 16 billion XLM to all BTC holders. So, of the total 2 billion XLM planned for this airdrop, only 300 million have been distributed : the last batch of these 300 million will be distributed on December 15th, but already now the registration to the Keybase platform for this airdrop has been closed.Ĭlearly, the question of the remaining 1.7 billion XLM that the foundation of Stellar had made available remains open: it is not yet known how they will be spent, probably in other marketing operations or other airdrops with different partners. 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”, explains the official communication released a few hours ago. 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. Unfortunately, as recently announced, the airdrop scheduled for December 15th will be the last because the platform has received too many applications, especially from fake accounts, and this has prevented us from understanding who were real users and who were fake. Researching new protocols and becoming active in DeFi, NFTs, and across various Layer 1 ecosystems is the best way to qualify for airdrops. Token airdrops have different eligibility requirements. Crypto projects often distribute tokens to dedicated users through airdrops. The airdrop had started in October and allowed to earn up to $500 of XLM. Learn how to qualify for upcoming token airdrops with our in-depth guide. ![]() The crypto was supposed to be distributed among Keybase users, but too many fake accounts were created just to receive this airdrop for free so the two companies decided to discontinue the distribution. The DAO was a decentralized investment fund of sorts built with Ethereum however, a hacker drained $50MM in June 2016 from a record-setting $150MM ICO at the time.Stellar and Keybase abandon the 2 billion XLM airdrop project. 6The Ethereum community chose to roll back the blockchain via hard fork to “reverse the theft” and get the ETH back. ![]() A small group of dissenting miners was steadfast in believing “Code is Law” and blockchain immutability shouldn’t be compromised at any cost. Every ETH token holder who controlled their private keys before the split is entitled to the same number of tokens on the new chain.ħThe minority miners continued mining the original chain, Ethereum, with native token ETH, which “branched” into Ethereum Classic with native token ETC effectuating the chain-split on July 20, 2016. Chain-split coins always exist on a 1:1 basis. 8 Coin Center explains it like this, “A better term for a blockchain fork that leads to two divergent cryptocurrencies would be a contentious fork…In a contentious fork, both networks recognize these pre-fork balances as valid so, in that sense, a user of the pre-fork chain will, by no action of her own, “have” tokens on both networks post-split. Token standard airdrops are akin to getting unsolicited property, free book samples, or soap samples in your mailbox, except in the case of crypto, the user may have NO idea the OMG airdrop existed. At the time of the airdrop, the user can transfer, sell, exchange, or otherwise dispose of the tokens. ![]() Most of the time, the tokens are worthless, and there is no active trading market. The user has possession but hasn’t necessarily accepted the coins as her own, therefore acceptance could be selling the tokens at a later time when they have value. ![]() An OMG token sale could reflect acceptance and exercising dominion and control. “The dominion and control doctrine applies to rights and property received, but not paid for, by a taxpayer, including unsolicited property such as free samples and security purchase rights,” explains Jim Calvin, Global Tax Leader, Deloitte, and further, “A sale of rights, as in Rev. Krohn said about 150,000 new signups made it through.
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