Stellar Lumens presents groundbreaking projects to change the world – Will it drive XLM price to $1?

  • Stellar Community Fund has announced the winners of its 11th round of grants award.
  • The 21 winners are all building unique and paradigm-shifting Stellar ecosystem projects.

The Stellar blockchain ecosystem is poised to see the addition of several groundbreaking projects that will bring more traction to its native token Stellar Lumens (XLM) by providing world-changing solutions.

A total of 21 projects have emerged as winners of grants from the 11th round of Stellar Community Fund (SCF), the Stellar ecosystem projects funding initiative. As seen in an SCF blog post, the latest round of the initiative was unique in many ways and set several records.

For one, it was Stellar’s first-ever virtual startup bootcamp conducted on the SCF Discord channel. It also set a record for the number of projects selected to contest for the grants picking 50 teams based in 34 unique countries.

The bootcamp adopted a self-serve Design Sprint Process created by DFS Lab and was gamified via a leaderboard to track progress and allow all stellar community members to vote on prizes to be awarded to teams with outstanding output.

The winning projects, selected through this process and after weeks of deliberation by a panel of 45 judges drawn for both the Stellar Development Foundation and the greater Stellar community and ecosystem, will be receiving their requested budget in XLM. The grants for the round amount to a grand total of over 13 million XLM.

Details of the victorious projects show that they are all working on products that are key for the Stellar ecosystem. One such project is Horizon-as-a-service. It won $2,500 worth of XLM in grants to build Customized and Private Horizon server access to the Stellar Network with only the data they need.

Flora, another approved project, intends to build a marketplace where users can access apps, integrations, transaction templates, and third-party Soroban Smart Contracts using its $47,000 worth of XLM grants.

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Similarly, Stellarcarbon got a grant of $37,000 worth of XLM to provide transparent nature-based carbon offsetting with proof of retirement on Stellar and in the Verra Registry.

SCF winners’ success could drive XLM to new price highs

The SCF, and the initiative which preceded it—the Stellar Build Challenge—have since 2016 been a source of new adoption for the Stellar Network and the XLM token. The initiative has so far awarded over 210 million XLM to more than 415 winners selected from around 1300 submissions.

Among Stellar ecosystem projects that have emerged from the grants initiative that has gone on to build paradigm-shifting Stellar-powered products is ClickPesa. The project has now launched a remote jobs marketplace for African countries called GetPaid.

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There we a number of Stellar ecosystem projects that have emerged from the grants initiative. The projects has gone on to build paradigm-shifting Stellar-powered products is ClickPesa. The project has now launched a remote jobs marketplace for African countries called GetPaid.

The next round of the initiative is expected to open for application by early next year. Meanwhile, the price of XLM has remained in the hold of bears. The token is trading at $0.0843, down 1.85% in the last 24 hours, and down 23.4% in the monthly timeframe.

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About Author

Olivia Brooke has been writing about cryptocurrencies since 2018. She’s currently fascinated by NFTs, and she remains committed to learning and writing about the broader cryptocurrency industry.

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