Cryptocurrency exchange Coinbase has announced that it is giving away 1 billion Stellar Lumens [XLM] [about $106 million] to its users. According to the Coinbase blog post published on March 26, users who are willing to study the Stellar protocol can earn XLM tokens as rewards.
The program was developed in collaboration with Stellar. It consists of educational videos with maximum three minutes each. According to the blog post users can earn XLM tokens as reward by watching videos and completing a set of quizzes. Using the program eligible U.S. users can earn up to $50 to study the Stellar protocol.
Coinbase posted on its official twitter handle on March 26.
The initiative is a part of the exchange’s crypto-focused educational program Coinbase Earn. According to the exchange blog post this particular session of the program is its “biggest yet.”
Coinbase’s blog post suggests, “Eligible Coinbase customers” based in the US will be invited through email in the coming days to earn as much as $10 in XLM. To gain the XLM, users will be required to view various tutorials on Stellar and answer questions related to the educational videos viewed. Uses can share their unique referral link to earn $40 in XLM with four other eligible friends or colleagues.
International users based out of the U.S. will be able to view Stellar related educational videos without paying. Users can “join the waitlist,” in order to get message alerts as soon as more “earning opportunities become available.”The firm highlighted that it has sent the first set of invitations to join the program to the customers in the U.S.
Stellar [XLM] is currently ranked 8th by market capitalization among the top-100 cryptocurrencies on CoinMarketFeed. Following the exchange’s announcement, the price of the cryptocurrency has seen a noticeable hike with 24-hour gains of almost 7 percent. At the time of press XLM was seen trading at $0.106.
Earlier in March, Coinbase added XLM on its main investor platform. The cryptocurrency was available to exchange’s users in all parts of the world except of Coinbase users in the United Kingdom and U.S. state of New York. Earlier this year, the exchange’s professional trading platform announced it was accepting Stellar [XLM] deposits.