The last few articles we wrote how to claim free Stellar with Coinbase and Blockchain. But did you know if you own Stellar Lumens (XLM) already you’re entitled to receive free XLM every weekly?
How does it work?
The Stellar network has a built-in inflation mechanism that increases the total supply of XLM by 1% each year. These new Lumens are distributed weekly to current holders, proportional to their XLM balance. In simplistic terms the more Lumens you have, the more you’ll receive each week.
In this article, we’ll walk you through joining a Stellar inflation pool and configuring your Blockchain or Coinbase wallet so that you can start claiming your free Lumens weekly.
What is a Stellar Inflation Pool?
Like previously explained Stellar uses a system to distribute the inflation Lumens. With only one XLM you are able to cast one vote. But to be entitled to the free Lumens, your votes must be equal to 0.05% or more of the total supply of Lumens. If you own millions of Lumens, you could vote for yourself and receive your inflation Lumens directly from Stellar, but for most, including me, an inflation pool is needed.
How do I Join an Inflation Pool?
There are many Stellar inflation pools, but we recommend joining the Lumenaut inflation pool. This is the best inflation pool you can join, as it pays out weekly and doesn’t charge fees like some other pools.
Once you visit their site, click the join button and follow their instructions.
Note: To join Stellar inflation pools you’ll need to input your Stellar Wallet public and private key. The first step under their instructions will be to go to Stellar Laboratory site. For safety reasons make sure to to check URL once you visit Stellar Laboratory. It needs to be exact following URL:
How to Export Private Key from Blockchain Stellar Wallet?
Sign in to your Blockchain account, select a Stellar wallet and in the right screen you’ll find an “Export Private Key” link.
Can I export Private Key from Coinbase Stellar Wallet?
Coinbase doesn’t provide the private keys to individual wallet addresses.
How much inflation you will receive?
To know how much you will receive weekly, visit their FAQ page and enter your XLM amount or Public Key for the estimate. For example if you own 1000 XLM you will receive approximately 0.2063197 in the next inflation payment.
If you haven’t got any Stellar Lumens yet read our following articles: