Stellar, the cryptocurrency platform, announced that it is distributing 16 billion Lumens to bitcoin users or 16% of the initial lumens.
This is the second round of distribution after Stellar conducted its first lumen distribution program for bitcoin holders last October, as part of Stellar.org’s commitment to reserve 19% of the initial lumens – a total of 19 billion lumens—for people who hold bitcoin.
“We will make available these lumens to any bitcoin holder who wants them, including those that received lumens during the first giveaway round,” the announcement stated.
The company said that it will take a snapshot of the blockchain at the first block mined with a timestamp on June 26th, 2017, which will record the coin balances of all bitcoin accounts at that time. Later, it intends to publish a claim page, allowing bitcoin holders to verify that they control a given bitcoin address. Later in August, the bitcoin lumen program will conclude and if there are unclaimed lumens, they’ll go to Stellar.org’s operational fund and to the Build Challenge.
“Due to regulatory restrictions, this program is closed to residents of the U.S. states of New York, Georgia, New Hampshire, and Connecticut as well as the nations of Iran, Cuba, North Korea, and other countries subject to sanctions by the United States,” it added.
The participating exchanges to claim lumens include Kraken, BTC38 and Poloniex. In addition to distributing lumens to bitcoin holders, Stellar has also reserved 1% of the initial lumens (1 billion) to holders of XRP.