In march, the foundation behind stellar announced that they will giving away 16 BILLION lumens to bitcoin holders on June 27th, 2017, which would amount to 16% of the initial lumens created.
Well today is June 25th and so this a reminder and a guide on how to go claiming your free lumens (It would be a good strategy to exchange your eth for btc before 26th and flipping it back after the giveaway).
How will it work?
- On June 26, 2017, Stellar will take a snapshot of the bitcoin blockchain at the first block mined with a timestamp of June 26th (UTC/GMT). This snapshot will record the coin balances of all bitcoin accounts at that particular time. Remember, you have to have your BTC in your wallet (not the wallet on the exchange*) before this time. I would suggest you transfer all your idle BTCs by June 25, 2017 no later then 22:00 hours
- On June 27, 2017: the Stellar foundation will publish a claim page, allowing you to verify that you control a given bitcoin address. One verified, they will send your share of lumens to the Stellar wallet address given by you.
How to get our Lumens?
On June 27th, Stellar will provide a link to the claim page made for this giveaway. You will need to complete these steps to claim:
- Authenticate with Facebook.
- Enter your Stellar account ID.
- Enter your Bitcoin address. For P2SH (multisig) addresses, you will be asked for a redeem script.
- Sign a displayed message. For P2PKH (normal bitcoin address) only one signature is required. For P2SH (multisig) addresses you need to provide as many signatures as required to release the funds from a P2SH address.
- If signatures are correct, lumens will be sent to your Stellar account.
Bitcoin wallets supporting this include Bitcoind, Bitcoin-qt, Electrum, Mycelium, Trezor, Nano.
You can also participate through the following exchanges: Kraken, BTC38, Poloniex, Deribit, Yuanbao, NaoBTC, Bit-Z.
If your bitcoins are located on any of the above exchanges, your account will be automatically credited your with your free lumens.
The giveaway maths can be understood from the following table from the Stellar Lumen blog.
