XLM · zero inflation, no vesting — only the Foundation disbursement rate matters.
Inflation was disabled at the protocol level back in October 2019 (CAP-26). There are no vesting cliffs. The whole sell ledger collapses into one row: discretionary Foundation disbursement from ~16.19B XLM in custody (~32% of total supply). Last 90 days deployed ~600M; Q2 pace is accelerating. Net runs at about +1.8% / 90D.
Inflation mechanism disabled permanently at protocol-12 on October 28, 2019 (CAP-26). Zero forever.
No vesting schedule exists. The 100B → 50B supply was a one-time November 4, 2019 voluntary burn event. All SDF flow is discretionary (captured in Row #3), not scheduled.
Stellar Development Foundation holds ~16.19B XLM (~32% of total) across 13 published wallets — the entire structural sell ledger. Q1 2026 deployed ~340M; Q2-to-date pace ~756M / 90D (Stellar Community Fund v7.0 + Assets/Liquidity programme). Project ~700M / 90D forward. Fully discretionary, no published curve.
No bankruptcy estate. Stellar Consensus Protocol is federated BFT (not PoS) — no staking lockups apply.
No protocol-level buyback. The Foundation only deploys, never buys back.
Native fee sink: transaction fees route to a permanently inaccessible account by protocol design — functionally equivalent to burn. Observed pace ~0.5–1.0M XLM / 90D at current network activity.
Stellar Development Foundation only deploys (sells), never buys back.
No staking lockups on Stellar (federated BFT, not PoS). No new lockup programme.
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