- The latest report confirms that the collaboration between Stellar Lumen and Franklin Templeton brings more RWA to the platform, much higher than any other network.
- XLM has, however, failed to live up to the hype as the asset has fallen by 4.7 percent in the last 24 hours.
In July, CNF reported that Stellar Lumen has issued more than $300 million in tokenized digital funds. According to the report confirmed from other sources, this milestone is all thanks to the collaborations with Franklin Templeton and WisdomTree.
On September 20, a provider of crypto intelligence products Messari confirmed that the partnership with Franklin Templeton has brought more Real World Asset (RWA) to the Stellar platform than any other network. This, according to analysts, set the network up for interesting growth and a possible surge in its native token (XLM).
Stellar quietly has more RWA on platform than any other network, thanks to a $300M+ tokenized money market fund in partnership with @FTI_DA.
And with its Soroban initiative, smart contracts are coming to Stellar.
~ Fireside with @DenelleDixon at #Mainnet2023 pic.twitter.com/49JhF3xcAg
— Messari (@MessariCrypto) September 20, 2023
Franklin Templeton earlier reported that it was working with the US Securities and Exchange Commission as part of its plans to leverage the full potential of blockchain technology. Roger Bayston, the head of digital assets at Franklin Templeton disclosed at that time that its mutual funds could enable it to enjoy several benefits including efficiency improvement, which would subsequently reduce transaction fees. It is important to note that its OnChain U.S. Government Money Fund has been using the Stellar blockchain since 2021.
Similarly, WisdomTree was reported to be working on the launch of “blockchain-enabled funds” on the Stellar network. While it is benefitting from the collaboration with these asset managers, Stellar is also looking forward to witnessing the successful adoption of its Protocol 20 Upgrade which would introduce huge support for the Soroban smart contracts.
More on Stellar Lumen’s Soroban
According to its official website, Soroban was designed for “Batteries included developer experience.”
With tools such as plug-and-play SDKs, Soroban CLI, RPC server, and local sandbox, Soroban provides a user-friendly experience that gets developers up and running quickly. Start building with flexible, reusable functions and ready-to-use contracts.
It has a high level of ability and is designed to boost performance with several core scaling, and optimized fee models, as well as without pesky serialization loops. According to the official website, it addresses the challenges of state bloat. Most importantly, it is designed to connect to the network’s Interoperability.
Connect to Stellar’s exceptional interoperability by accessing its wide variety of on-chain assets and worldwide on and off-ramps. Also, benefit from five-second contract finality on a proven and mature network boasting 150 TPS.
According the the Stellar team, the Testnet upgrade was set to go live on Sep 20, 1500 UTC. This development demands that the latest versions of the Stellar Core and Horizon are installed. After this, the mainnet validators are expected to schedule an upgrade vote to determine the potential date for the public network upgrade.
Justin Rice, VP of Ecosystem at the Stellar Development Foundation spoke about Soroban:
It’s by far the biggest, most complex protocol upgrade to date, and so while the basic instructions to prepare are the same as ever — install up-to-date versions of any Stellar-related software you use! — the process will take a few extra steps and play out a bit slower than usual
Despite this major development, XLM has failed to live up to expectations as the price records a very low market sentiment at a current price of $0.112142. In the last 24 hours, the asset has declined by 4.7 percent.
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