Stellar · XLM
The payments network for moving stablecoins and dollars across borders
A real cross-border payments rail — but a small one, with a native token few are forced to hold.
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XLM · the mint is off. The foundation’s wallets are the whole story.
XLM is the native coin of Stellar, a payments network built for moving stablecoins and dollars across borders — ~34.16B circulating out of a fixed 50.00B total, with no mint left running.
Sell pressure. No coins are created. All of it is the foundation moving lumens it already owns into the market — ~979.9M XLM over the window, measured wallet by wallet.
Buy pressure. Almost none. There is no buyback and fees are pooled rather than burned — only ~0.55M XLM got locked away for good.
Net. About 2.87% of supply to market over 90 days — heading up, and it comes from one decision-maker, not from code.
The 1% yearly mint was switched off by a network vote on Oct 28 2019, and no new lumens have been created since. Total supply read on the network was identical at both ends of the window. A future network vote could in principle switch it back on, so it stays watched rather than closed.
Lumens were never sold with a lock-up, so there is no vesting calendar and no lock contract that could drain into the market. Every release is discretionary, and it lands in row 3 instead.
The foundation's 13 named wallets released ~979.9M XLM net into the float over the window, read straight off the network at both ends. About 15,575.6M is still sitting in those wallets with no published release calendar — the whole supply story on this coin, and by far the largest overhang.
No bankruptcy estate and no trustee schedule holds XLM, so nothing is queued for forced distribution.
There is no buyback. The foundation funds itself out of the lumens it already holds and has never run a programme to buy XLM back off the market.
Transaction fees are not destroyed. They are swept into a pool rather than burned, so nothing is removed by burning — the pooled amount is counted in row 4 instead.
The foundation does not buy XLM. Its lumens come from the original allocation, never from the open market.
The fee pool grew ~0.55M XLM over the window. Those lumens sit in an account with no owner and no keys, so they are permanently out of circulation. Real, but tiny against ~979.9M going the other way.
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