Coinbase Earn Promises to Give Away 1 Billion Stellar Lumens, Aims to Teach About XLM Protocol
Coinbase is known for innovation and for serving their customers in a way that allows them more freedom and movement in the crypto industry.
Most of the announcements lately have been about new listings of third-party tokens, but today is about their own product – Earn XLM. Earn XLM is an opportunity from Coinbase Earn.
CTO Balaji Srinivasan was excited and “proud” to announce this new development on Twitter. He added that the acquisition of Earn, which became Coinbase Earn, has brought in over $170 million in GMV, giving an opportunity to onboard more customers.
Since the acquisition of Earn by Coinbase last year, we’ve scaled the business to >$170M in GMV, and turned Coinbase Earn into a new way to onboard millions of users into crypto. Much more to come!
— Balaji S. Srinivasan (@balajis) March 26, 2019
Over the next few days, Coinbase customers that fall under the right qualifications will get an email invitation that will let them earn up to $10 in XLM.
The user will need to watch several tutorials on Stellar and answer quiz questions, encouraging them to learn about the cryptocurrency. If users want to share the wealth and get a little more for themselves, they can use a referral link that is unique to their account, adding up to $40 more XLM as up to four friends complete the lessons too.
Considering that this opportunity will only be available to certain customers, the company is still allowing the content to be viewed for free without a reward. There is a waitlist available that users can put their contact information on as earning opportunities are added in the meantime.
During the course of the Earn XLM event, there will be up to 1 billion XLM awarded to customers, which has been donated by the non-profit Stellar Development Foundation. This organization is responsible for helping with the creation of the Stellar protocol.
The XLM token is native to the Stellar network, and it is often used for sending money across borders or to connect tokens within the network. The whole network is based on the blockchain and does not require a bank account to participate.
For an easy breakdown of this opportunity directly from Coinbase Earn, check out this video: