Two years ago, Keybased announced iwould integrate Stellar into the application. Keybase doesn’t have the user numbers of other encrypted messaging service, but it has growing following, especially among the more technically astute. Users can upload their own PGP keys, verify that they control a certain domain name as well as other accounts such as Twitter, Reddit and GitHub. Keybase is kind of a Swiss Army knife for encrypted messaging, storage and using public key cryptography to verify one’s identity across internet accounts. But eventually “we just got to a point where the returns were diminishing,” he says. ![]() Krohn says despite the early end to the airdrop, it did drive interest in both Keybase and Stellar, which was one of the aims. We work very hard behind the scenes to clean out bots and spam, and are constantly retooling as we better understand the adversary." Max Krohn, Keybase’s cofounder who was also a cofounder of OkCupid, tells Information Security Media Group: “Yes, we always thought spam was one of the risks. Five bitcoins today would be worth more than $35,000. In cryptocurrency parlance, those programs are known as “airdrops.” Giving away small amounts of cryptocurrency has been a strategy to get people interested and familiar with the technology.īitcoin had many faucets, including one built around 2010 by a platform developer where someone could get five bitcoins, which was worth just next to nothing at that time. “It's not in the Stellar network's interest to reward those people it is also not in Keybase's interest to have them as Keybase users.” “Starting in the last week or so, crappy fake accounts were beginning to come in, far beyond the capacity of Keybase or SDF to filter,” Keybase says. Keybase says it will stop early a program that distributed units of the Stellar cryptocurrency – dubbed lumens - to its users due to an influx of spammers and fraudulent accounts. See Also: Live Webinar | Breaking Down Security Challenges so Your Day Doesn’t Start at 3pm In short: Everyone comes out the woodwork to try to get a slice of the pie. YBX is the YieldBlox Protocol’s platform token.Keybase is ending a cryptocurrency distribution after an influx of fake accounts and spam.Įncrypted chat and messaging application Keybase has found out what happens when you wrap a cryptocurrency giveaway into your service. YBX holders can stake their YBX for sYBX which provides them with various benefits such as a portion of protocol revenue, the ability to allocate YBX lending and borrowing incentives, and control over the protocol. These utilities accelerate the growth of YieldBlox and the Stellar ecosystem as a whole - YBX is tokenized growth! YBX stakers directly benefit from and control the future of YBX and DeFi on Stellar! More info on YBX can be found in our docs. YBX token distributionīefore we get into the airdrop, let’s refresh on YBX’s distribution. The total supply of YBX tokens is capped at 1.5 billion. To provide a sense of scale, the total supply of XLM is 50 billion. ![]() ![]() Simply, we’re not issuing that many YBX tokens. Of these 1.5 billion, 810 million will be distributed over 10 years to protocol users, 375 million will be allocated to the YieldBlox DAO treasury, 150 million will be allocated to a partnership treasury, 35 million will be allocated to a bug bounty program, 10 million will be allocated to the airdrop, and the remainder will be distributed to the initial team and investors. You can find more info on the distribution here. We’re designing the YBX airdrop with three goals in mind:ġ. Get YBX into as many real* ecosystem wallets as possible 2. Teach potential future users how to use YieldBlox 3. With the previously stated goals in mind, we are splitting our airdrop into three portions: Airdrop 1: Verified Lumenaut Airdrop - 4,000,000 YBX Allocated (September 9–October 22) *We don’t want YBX to be distributed to bot or inactive accounts. The verified Lumenaut airdrop is our airdrop for registered YieldBlox community members. To participate in this airdrop, you must be part of our Discord community, and your Stellar mainnet account has to have been created before August 15, 2021. To register for this airdrop, please join our Discord and follow the instructions provided. Registration information will be provided at a later date. ![]()
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