Having successfully deployed nearly $10M in XLM YTD, the Stellar Community Fund intends to level up through SCF 5.0 to prepare for the smart contract through the Soroban by focusing on a new governance and voting mechanism dubbed Neural Quorum Governance (NQG).
The Stellar Development Foundation worked in close collaboration with BlockScience, a research and development platform, to bring forth the NQG, which has the potential to take XML to more global users seamlessly.

The Stellar (XLM) network is preparing to go even bigger in the coming quarters after registering significant growth during the past few years despite the devastation of the crypto 2022 bear market.

Notably, the Stellar network has inked dozens of collaborations – including with Circle USDC, United Nations (UN), and MoneyGram, among many others – that have helped it remain among the most desirable blockchain projects.

Nonetheless, the Stellar team led by co-founder and Chief Architect Jed McCaleb has continued to build the necessary infrastructure to onboard more mainstream users and ensure the long-term success of XLM coin.

Stellar Community Fund Next New Era

In the latest bid to ensure sustainable development of the Stellar (XLM) ecosystem, the Stellar Organization has announced the Stellar Community Fund (SCF), which was launched in 2016 and funded over 130 projects with nearly $10 million YTD, will now shift focus through the SCF 5.0.

Reportedly, SCF 5.0 will pay more attention to the introduction of the Neural Quorum Governance, a new voting and governance mechanism that was developed by BlockScience and the Stellar Development Foundation. 

“This mechanism is modeled after neural networks and contains layered voting neurons that allow members to adjust their voting weights based on their expertise, trust given by peers, and historical contributions to the SCF. In addition, voters can delegate their weighted votes to a group (or quorum) of other individuals, which draws inspiration from the Stellar Consensus Protocol,” the company noted.

Notably, the NQG is the first major step towards a democratized smart contract Stellar ecosystem, which is expected to be introduced through the Soroban upgrade that is currently in test mode waiting for mainnet in mid-2024.

According to the NQG developers, it will focus on key issues across voting mechanisms including voter fatigue and apathy. Moreover, a sustainable growth plan for the Stellar network needs to ensure informed and experienced voters take part in the governance.

1/ Introducing the new and supercharged Stellar Community Fund (SCF), our open-application awards program, to support the next generation of companies building on blockchain. Learn about the new changes and how to grow with Stellar https://t.co/LqhXSgMTlN pic.twitter.com/W416GUnEpZ

— Stellar (@StellarOrg) November 9, 2023

With the NQG in place, the Stellar network will be assured of more users as it will engage more members. Additionally, the NQG will ensure trust in the Stellar network hence reassuring large-scale DeFi developers from other blockchains to integrate with the XLM community.

Market Implication

Amid the ongoing slow altcoin breakout, Stellar XLM price has gained about 19 percent in the past 30 days to trade around 12 cents on Monday according to our latest market data. From a technical standpoint, XLM price is likely to rally more than 100 percent in the coming months towards the resistance level of around 24 cents if the ongoing bullish pennant breakouts soon.

Notably, the XLM coin has an average trading volume of about $85 million and a market cap of about $3.45 billion.

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Filed under: Bitcoin - @ November 15, 2023 5:12 am