A big call out to @crypto-newbie-mum for reminding me constantly about Stacks (STX).
Finding our missing STX has been on the eternal To Do List since 2021. The job of locating the STX just kept getting transferred from one To Do List to the next To Do List, as each list got completed.
Old Skool Airdrop Hunting
Back in our early days of crypto, we went through a phase that would now be called Airdrop Hunting.
Stella.org had plans to give away 50 billion Stellar Lumens (XLM) or 50% of the total supply. Back then it was not called an airdrop but was instead called the Lumen distribution program. Airdrop sounds way more cool and has a magic internet money ring to it. But what ever you want to call it, free money is still free money.
- October 2016, 19 billion Lumens distributed to people who held Bitcoin
- June 2017, 16 billion Lumens distributed to people who held Bitcoin
- Coinbase Earn gave away $50 USD of Stellar Lumens (XLM) for watching a video and referring 4 people
- April 2019, Blockchain.com wallet airdrops 454.545455 XLM ($50 USD) to each of our wallets, total $125,000,000 Stellar tokens (XLM) to be distributed
- September 2019, Keybase (an encrypted messaging and file-sharing service) announces plans to airdrop 100 million XLM tokens per month to authenticated Keybase users. This was to last for 20 months, with 2 billion XLM being distributed.
We came on the scene at the Coinbase Earn stage of the Lumens distribution. To get 2 lots we had created an account for my wife as well. Which turned out to be handy as my account got locked and we were able to keep using my wifes account to earn free crypto.
We were able to create two blockchain.com wallets and get 2 airdrops.
The Keybase airdrop was going to be a biggie as it was going to run over 20 months. To get authenticated one had to already have a GitHub account plus some other random stuff. Luckily I had already created lots of social media accounts chasing other airdrops and never used them again. Twitter was the only exception. One of the other social media accounts happened to be GitHub. So we were in.
Unfortunately Keybase’s filtering system were over whelmed by spam accounts. Despite efforts to address the issue, the spam persisted, and Keybase ultimately decided to end the airdrop prematurely. The last 100 million XLM tokens were distributed to users in December 2020, bringing the total airdrop to 300 million XLM.
We received 3 airdrops but they got smaller each time as more people joined the pool.
Note: We sold the XLM as soon as we got them, which turned out to be the wise thing to do. I see XLM is about the same price still.
Blockchain.com 2nd Airdrop
Then out of the blue Blockchain.com decides to airdrop 100 STX to every one that had registered for airdrops on their wallet. Which was the Stellar airdrop, their only one. But one would have to wait 12 months, as the STX were locked.
At the time STX was worth about 10 cents each. Multiply by 2 wallets, $20 is $20.
2021 or later we got an email advising the STX was now available in our wallets. Try as I may there was no airdrop to be found. Contacted Blockchain.com but to no avail.
Had a couple of goes over the years but could not find the Airdrop button. It was just not where it was supposed to be.
Eureka Struck Gold
Decided to have another go tonight. Found the wallet information with email, wallet ID, coded password and 12 word Backup Phrase. At first I didn't realise was still in the Grandson's account on the computer. When I realised I couldn't be bothered logging out and back into my personal account.
So had to use the Backup Phrase to import the wallet.
Low and behold there is the airdrop button, right where they said it would be.
And a Stacks button as well.
So our $20 Stack is now a $300 Stack. That is a 10x bagger plus.
Now what are we going to do with this windfall. Technically it comes under the Crypto Dust banner as it was free money, a gift from the crypto gods. And now all the Crypto Dust goes to the Grandson.
Do we keep it as it is now over our minimum $200 AUD threshold for stacking. It would make it the 4th largest holding in his crypto portfolio, after Bitcoin, ATOM and Solana. Or do we swap it for something with more upside to make the most of the coming alt season.
I really don't know much about Stacks.
A quick Coingecko shows:
- STX is only down 56% from its ATH, so it has held its own.
- ranks #35, so is a top 100
- Grayscale has recently introduced the Grayscale Stacks Investment Trust
What would you do @crypto-newbie-mum?
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