$XLM XLM Coin, also known as Stellar Lumens, is a digital currency created by the Stellar Development Foundation. Here are some key pieces of information about XLM Coin:
• The role of the Stellar network and XLM Coin:
• The Stellar network is a distributed payment platform based on blockchain technology, designed to facilitate fast and low-cost cross-border transactions.
• XLM serves as the bridge currency within the network, mainly used to pay transaction fees and facilitate conversions between different currencies.
• Features of XLM Coin:
• Cross-border payments: XLM Coin is designed to simplify cross-border payments, enabling fast and low-cost international remittances and transfers through its blockchain technology.
• Decentralization: The Stellar network is a decentralized platform, not controlled by any single entity.
• High performance: Compared to traditional financial systems, the Stellar network offers higher transaction speeds and lower transaction costs, typically completing transactions within seconds.
• Stability: The supply of XLM Coin is fixed, helping to reduce inflation risks and maintain currency stability.
• Interoperability: The Stellar network supports the issuance and trading of multiple assets, including fiat currencies, other cryptocurrencies, and various tokens, providing high flexibility and interoperability.
• Supply and circulation of XLM Coin:
• As of November 2023, the total supply limit of XLM is approximately 50 billion, and no additional XLM will be created.
• About 20 billion XLM are in circulation on the open market, while the Stellar Development Foundation retains approximately 30 billion for the development and promotion of the Stellar network's growth.
• Latest updates on XLM Coin:
• On October 31, 2024, Coinbase Derivatives announced the launch of retail-sized futures contracts for Silver (SLR) and Stellar (XLM) on November 11.
• On October 16, 2024, Paxos announced plans to bring assets to the Stellar network by the end of 2024.
• On September 24, 2024, Robinhood announced the opening of XLM trading services for New York residents.