The Stellar (XLM) Development Foundation (SDF) has released its Q3 2024 report, showcasing significant milestones and developments as the year draws to a close, according to Stellar. The report aligns with the foundation’s roadmap and highlights several key achievements.

Network Growth and Investment

The Stellar network has surpassed 9 million addresses, marking a substantial increase in its user base. The Enterprise and Matching Fund demonstrated a strong quarter by investing over $5 million in both emerging newcomers and established ecosystem partners. These investments are aimed at fostering the next generation of financial services built on the Stellar platform.

Community and Ecosystem Enhancements

The Stellar Community Fund launched version 6.0, receiving a record number of submissions. This initiative supports innovative projects within the Stellar ecosystem. Furthermore, Stellar’s integration into Dune and tracking of five protocols on DefiLlama have enhanced the network’s interoperability and visibility, benefiting the broader ecosystem.

Notable Projects and Protocol Developments

Franklin Templeton’s Benji investment platform, which operates on Stellar, reached an all-time high supply of approximately $450 million. Additionally, the development of Protocol 22 is nearing completion. This new protocol will introduce BLS functionality, enabling advanced security and privacy features on the network.

Wallet Innovations and Community Engagement

Stellar ecosystem wallets are evolving with new features such as bill pay, gasless transactions, and global banking ramps, enhancing user experience. The community engagement was highlighted by the Meridian event in early October, where nearly 700 participants gathered in London to discuss Stellar’s impact on financial services.

The Q3-in-review webinar, led by Denelle Dixon, CEO and Executive Director, and joined by other key figures such as Justin Rice and Raja Chakravorti, provided further insights into the network’s growth metrics and industry standing.

Image source: Shutterstock