Stellar Lumens introduces groundbreaking tool to issue, mint, and burn new assets on the XLM blockchain
- Users can tokenize real-world assets on the Stellar network as it has custom tools for asset issuance.
- Meanwhile, the SDF revealed the network’s achievements in Q4 2022 despite the challenges that faced the broader crypto industry last year.
Blockchain-based distributed ledger platform, Stellar Lumens, has announced the launch of the Stellar Asset Sandbox. Stellar announced via its official Twitter handle on Wednesday. Through this Sandbox, users can issue, mint, or burn new assets through the Stellar testnet without coding knowledge.
1/ Introducing the Stellar Asset Sandbox – In a simple-to-use interface, you can issue, mint, and burn new assets on the Stellar testnet, no code required.https://t.co/cYmH5ovqXr pic.twitter.com/XMxArHGuOz
— Stellar (@StellarOrg) February 1, 2023
The Stellar development foundation and cheesecake labs provide the necessary support for the Sandbox. The Sandbox also enables businesses to test asset issuance on the Stellar testnet network. Meanwhile, there are requirements and steps that users must complete before they can try out the Stellar Asset Sandbox.
Easing asset issuance for companies
The Stellar Asset Sandbox makes asset issuance easy for businesses and individuals. Thus, they can create, issue, or manage digital representations of fiat or real-world assets on Stellar. Users can tokenize assets such as CBDCs, stablecoins, and securities using Stellar’s custom and compliance tools.
Through these tools, businesses can expand their offerings, program their assets and enable real-time payments. Offer expansion means businesses can offer new fiat-domiciled crypto assets to their clients globally. By enabling real-time payments, businesses can complete transaction settlements within seconds.
These built-in tools and other features optimize the Stellar network for asset issuance. More importantly, these digital representations enable users’ customers to access their assets anytime and without huge costs. Already, some companies have started using Sandbox to issue assets on Stellar.
The most notable ones include GMO-Z.com trust company (a New York state limited purpose trust company) and Novatti (a payment service platform that eases transaction settlement for businesses and their customers regardless of location or the device they use). Meanwhile, the asset issuance website contains important resources for anyone willing to know more.
Some available resources include an asset issuance guidebook, CBDC whitepaper, developer documentation, and integration partners.
SDF makes giant strides regarding its roadmap
Meanwhile, the Stellar Development Foundation (SDF) shared its accomplishments during its Q4 2022 call on Wednesday. The SDF revealed that the total accounts on Stellar surged 14.3 percent year-on-year (YoY). In Q4 2022, Stellar surpassed the 7 million mark for the number of accounts.
In contrast, there were 6.5 million accounts on Stellar in Q4 2021. Also, the SDF revealed a 63.8 percent YoY increase in the number of transactions processed by the network. The network processed more than 1 billion transactions in the last quarter of 2022 alone.
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In addition, there was an 11.9 percent surge in transaction volume on the network involving relevant assets. Relevant assets are those pegged to real financial instruments. Hence, the increase in their transaction volume indicates that more people are finding real-world utility on the network. Apart from the impressive numbers, many innovations also happened on the network in 2022.
A notable example is the Soroban smart contract platform launched on Futurenet last quarter. Consequently, the SDF launched the $100 million adoption fund to support the Soroban ecosystem growth.
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