Terrill Dickey
November 8, 2024 04:10
The Stellar (XLM) Development Foundation’s Q3 2024 report highlights strong network growth, strategic investments, and key integrations strengthening the Stellar ecosystem.
The Stellar (XLM) Development Foundation (SDF) has released its Q3 2024 report, outlining important milestones and developments as the year approaches, Stella said. The report is consistent with the foundation’s roadmap and highlights several key achievements.
Network growth and investment
The Stellar network has grown its user base significantly, surpassing 9 million addresses. The Enterprise and Matching Fund had a strong quarter, investing more than $5 million in both emerging new companies and existing ecosystem partners. These investments aim to foster the next generation of financial services built on the Stellar platform.
Community and ecosystem improvements
The Stellar Community Fund has launched version 6.0, receiving a record number of submissions. This initiative supports innovative projects within the Stellar ecosystem. Additionally, Stellar’s Dune integration and DefiLlama’s five-protocol tracking have improved the interoperability and visibility of the network, benefiting the broader ecosystem.
Notable project and protocol developments
Franklin Templeton’s Benji investment platform, which operates on Stellar, has reached its highest ever supply of approximately $450 million. Additionally, development of Protocol 22 is nearly complete. This new protocol introduces BLS functionality, enabling advanced security and privacy features in the network.
Wallet Innovation and Community Participation
The Stellar ecosystem wallet is evolving with new features such as bill payments, gas-less transactions, and global banking ramp to enhance user experience. Community engagement was highlighted at a Meridian event in early October, where around 700 attendees gathered in London to discuss Stellar’s impact on financial services.
The third quarter review webinar, moderated by CEO and Executive Director Denelle Dixon and featuring other key figures such as Justin Rice and Raja Chakravorti, provided additional insight into the network’s growth metrics and industry positioning.
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