Coinbase To Reward Over $100 Million in XLM to Students of Stellar Protocol

Coinbase, one of the top US based cryptocurrency exchange, has stated that it is rewarding 1 billion Stellar Lumens (XLM), worth $106 million, to those who are interested in studying the Stellar protocol. Coinbase revealed the info through a blog post.

The initiative is a portion of Coinbase Earn, the education program run by the cryptocurrency exchange. Coinbase commented that this portion of the scheme is its “biggest yet.” Those US based users selected for the program will receive up to $50 for studying the Stellar protocol.

In the Coinbase Earn website, it is revealed that the course developed in collaboration with Stellar includes five educational videos each of which runs for about three minutes. After successfully seeing those videos and finishing a questionnaire, users will be rewarded with XLM tokens.

Coinbase revealed that it has already issued invitations to the first groups of selected users in the US. Those who are living outside the US are encouraged to sign up for the waitlist.

According to CoinMarketCap, XLM presently holds the 8th place by market cap among the top 100 cryptos. Following the announcement, XLM has gained roughly 7% in the past 24 hours to trade at $0.1056.

Earlier in March, Coinbase listed XLM on its key retail investor platform. Devoid of Coinbase users in the UK and in the US state of New York, all others have access to the cryptocurrency. Notably, before listing on the retail platform, Coinbase Pro, the company’s institutional level trading platform started accepting XLM deposits.

It can be remembered that a huge XLM airdrop happened back in November 2018. At that time, crypto wallet provider Blockchain.com provided full assistance to the token, in addition to giving away $125 million worth XLM. The company referred the incident as “the largest airdrop in the history of crypto and likely the largest consumer giveaway ever.”