Coinbase Earn Adds Stellar, Plans to Distribute $1 Billon Worth of XLM

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Coinbase Earn, an initiative that allows users to “earn crypto while learning about crypto,” will now let participants “earn $50” of Stellar (XLM) for learning about the Stellar platform and also for inviting friends and peers to join the program.

In total, the management at Coinbase Earn has committed to “giving out” $1 billion in XLM, the native cryptocurrency of the Stellar blockchain network. According to an official blog post, the initiative involves the Stellar Development Foundation, or SDF (a non-profit entity focused on the ongoing development of Stellar), giving away the large amount of XLM to “millions of eligible users to teach them about the Stellar protocol.”

“Sharing Unique Referral Links” To Earn An Additional $40 In XLM

As mentioned in the announcement, “eligible Coinbase customers” based in the US will reportedly be invited via email in the coming days to earn as much as $10 in XLM. In order to receive the XLM, users will be required to view various tutorials on Stellar and also answer questions related to what’s being taught in the educational videos.

Additionally, users will have the opportunity to earn $40 more in XLM by “sharing their unique referral link” with four other eligible friends or colleagues – so that they can also complete the video lessons about Stellar.

As noted in Coinbase’s blog, international customers – not in the US – will still be able to view all educational materials related to Stellar at no cost. Moreover, users who may not yet have received an email invite can “join the waitlist,” in order to get message alerts as soon as more “earning opportunities become available.”

Learning About DLT-Based Cross-Border Transfers With Stellar 

As detailed in Coinbase’s post, “up to” $1 billion in XLM will be given out through the “Earn XLM opportunity” program. All XLM that is distributed during the educational initiative will reportedly go towards rewarding Coinbase customers, the exchange’s blog stated. According to Coinbase’s announcement, after users have participated in the Earn XLM program, they will be adequately prepared to “begin experimenting with the Stellar protocol.”

Stellar is a distributed ledger technology (DLT)-based platform that helps traditional financial institutions, payment processors, and individuals conduct cross-border transactions “more efficiently” – when compared to the existing payments technology infrastructure. Stellar’s protocol enables quick and cost-effective transfers by “facilitating the issuance, exchange, and transfer of tokens.” These tokens can “represent real assets” such as major fiat currencies include Euros and US dollars.

Stellar is the fourth cryptocurrency being added to Coinbase’s Earn initiative, launched in December of last year. After starting out with 0x, the company has since added Brave’s Basic Attention Token (BAT), Zcash (ZEC) and now XLM.

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