Cryptocurrency platform Stellar, which aims at global financial inclusion, is holding a Bitcoin-Lumen giveaway program for the second time. The initiative, which is going to take place on June 27, offers Bitcoin community members a total of 16 billion Lumens, which is 16% of the initial digital currency tokens.
The Bitcoin-Lumen giveaway organized by Stellar co-founders Jed McCaleb and Joyce Kim once again testifies to the company’s strong commitment to the Bitcoin cryptocurrency.
Taking a snapshot of the Bitcoin blockchain is foreseen for a day ahead of the giveaway. That way coin balances will be seen across the network and published on the day of distribution so that account holders can verify their ownership and get the allocated Lumens.
Any Lumens not claimed until August 27 will be allocated to the Stellar operational fund and the Build Challenge. Several exchanges such as Kraken, BTC38 and Poloniex will also take part and be able to collect the Lumens for distribution.
Stellar is hoping that the initiative will help measure up against competing Ethereum and Ripple by promoting the use of the platform among companies and banking institutions.