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The Stellar blockchain ecosystem is gearing up to incorporate several innovative projects that are set to enhance its native token, Stellar Lumens (XLM), by introducing groundbreaking solutions.
21 Winning Projects in Stellar Community Fund (SCF)
A total of 21 projects emerged as winners in the 11th round of the Stellar Community Fund (SCF), an initiative aimed at funding projects within the Stellar ecosystem. The latest round of this initiative, as per the SCF blog post, was unique in several ways and set several records.
Firstly, it marked the first-ever Stellar startup boot camp, conducted on the SCF Discord channel. Additionally, it set a record for the highest number of projects selected to participate in the grant competition, with 50 teams from 34 countries taking part.
The winning projects, selected through this process and after several weeks of deliberation by a panel of 45 judges, representing both the Stellar Development Foundation and the broader Stellar community and ecosystem, will receive awards in XLM. These grants amount to over 13 million XLM in total.
Details about the winning projects reveal that they are all working on products crucial to the Stellar ecosystem. One such project is “Horizon-as-a-service,” which secured XLM grants worth $2,500 to create individual and private access to Horizon servers in the Stellar Network with only the data they need.
Another approved project, “Flora,” intends to create a marketplace where users can access applications, integrations, transaction templates, and third-party Soroban smart contracts using XLM grants totaling $47,000.
Similarly, “Stellarcarbon” received an XLM grant of $37,000 to provide transparent carbon offsetting with retirement verification on the Stellar blockchain and in the Verra registry.
Success of SCF Winners Could Drive XLM to New Price Highs
SCF and its predecessor initiative, the Stellar Build Challenge, have been instrumental in driving adoption of the Stellar Network and the XLM token since 2016. To date, this initiative has awarded over 210 million XLM to more than 415 winners selected from approximately 1,300 submissions.
Among the Stellar ecosystem projects that have emerged from the grant initiative, focused on creating paradigm-shifting products on the Stellar platform, is ClickPesa. The project has recently launched a remote job marketplace for African countries called GetPaid.
