The Stellar Development Foundation (SDF) released its Q2 2024 report. In the second quarter of 2024, Stellar saw growth across the network in key areas. Total addresses on the network surpassed 8.4 million, growing by over 400,000 addresses within one quarter. Real World Asset supply hit over $598 million dollars at the end of Q2 and has continued to grow into the third quarter.
We’ve mobilized many resources around developer education and engagement, funding support, and Soroban development. The result has been an uptick in new devs building new projects, bringing new volume and reach to the network. In Q2, the Stellar Community Fund awarded over $5 million dollars worth of lumens to 107 projects, 86 of which are building on Soroban.
“The growth we’ve seen in the second quarter across a number of key areas is exciting,” said Stellar Development Foundation CEO Denelle Dixon. “Growing the addresses on the network, the supply of tokenized real world assets, and the projects building with smart contracts on Stellar are all proof that people are excited about building better on Stellar. We will build on this momentum and look forward to celebrating it with our community at Meridian in London later this year.”
In addition to smart contracts on Stellar adoption and development progressing, we’ve landed on a new state archival proposal that sets out to solve blockchain’s biggest scalability problem: state bloat. It has ignited exactly the kind of discussion in the industry that Stellar wants to lead.
Stellar also celebrated 2 years of MoneyGram Access, which has been monumentally important in expanding what builders can do on Stellar, and who they can reach. This solution has provided new utility for things like remittances, in small but meaningful amounts, in key markets. It is the foundation for award-winning innovations like Stellar Aid Assist and the Stellar Disbursement Platform. And more recently, with the launch of smart contracts on Stellar ushering in cash-to-defi capabilities, we’ve entered a new phase of seeing what builders and users will do with this utility.
This was also a strong quarter for the Enterprise and Matching Funds, which invested over $7.8 million dollars in companies building the future of financial services in Colombia, Nigeria, and the US.
At Meridian 2024, October 15-17 in London, SDF will convene our community to celebrate what we’ve achieved and look ahead to what we will build next on Stellar.
About Stellar
Stellar is more than a blockchain. Powered by a decentralized, fast, scalable, and uniquely sustainable network made for financial products and services and a thriving and passionate ecosystem that includes a non-profit organization driven by a mission, Stellar is paving the path to unlock the world’s economic potential through blockchain technology. Built with speed and low costs in mind, the Stellar network provides builders and financial institutions worldwide a platform to issue assets, and to send and convert currencies in real time creating real world utility.
About the Stellar Development Foundation
The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open-source network that connects the world’s financial infrastructure. Founded in 2014, the Foundation helps maintain Stellar’s codebase, supports the technical and business communities building on the network, and serves as a voice to regulators and institutions. The Foundation seeks to create equitable access to the global financial system, using the Stellar network to unlock the world’s economic potential through blockchain technology. For more information, visit stellar.org/foundation.