Stellar
XLM, or Stellar Lumens, is the native token of the Stellar network, enabling quick, low-cost cross-border transactions and supporting tokenized assets.
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- Stellar
- Asset Type: xlm
XLM is a large-cap asset that represents the blockchain's native currency or monetary fee used to execute transactions on the network.
Stellar has no dependencies.
XLM has a fixed supply. XLM is the native token of Stellar, facilitating cross-border payments and transfers.
What is XLM?
XLM, also known as Lumens, is the native cryptocurrency of the Stellar blockchain, a decentralized platform launched in 2014 by Jed McCaleb. Stellar aims to bridge the gap between traditional financial systems and blockchain technology, enabling fast and cost-effective cross-border transactions. XLM serves as a bridge asset for transferring value across different currencies and as a mechanism to pay for transaction fees on the network.
How does XLM work?
XLM operates on the Stellar blockchain, which uses a unique consensus protocol called the Stellar Consensus Protocol (SCP). SCP allows for quick transaction finality and low energy consumption compared to traditional proof-of-work systems. XLM is used to facilitate cross-currency transactions by acting as a bridge asset, ensuring liquidity and reducing friction in the process. Stellar’s ecosystem supports a range of financial applications, including remittances, tokenized assets, and decentralized finance (DeFi), making XLM an integral part of its operations.
How many XLM tokens are in circulation?
The total supply of XLM was initially set at 100 billion tokens but was reduced to approximately 50 billion through a network-wide burn in 2019 to increase scarcity. Currently, around 27 billion XLM tokens are in circulation, with the remaining held by the Stellar Development Foundation (SDF) to fund network development and partnerships. This capped supply and controlled distribution aim to balance scarcity with ecosystem growth.