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Celebrating Wave 6 Awardees of the XRPL Grants Program
November 17, 2023
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We’re thrilled to share the awardees of XRPL Grants Wave 6, focusing on groundbreaking Web3 financial projects on the XRP Ledger (XRPL).

The response to the Wave 6 call for applications was remarkable, with 129 submissions from all over the world. After a comprehensive review process, we’re proud to support a total of 22 outstanding projects from 13 countries, resulting in a total funding amount of $1.3 million.

Each project was reviewed through a comprehensive judging process, and assessed by technical experts as well a global panel of judges from across academia, Web3, DeFi, Sustainability and other areas of expertise.

These awardees cover 14 distinct financial use cases, demonstrating the diverse applications of the XRP Ledger in the realm of decentralized finance, while 8 awardees mark an array of different innovative efforts that sees projects focusing on Developer Tooling, NFTs, Education, GameFi and Sustainability.

Learn more about the specific use case below and explore the full roster of Wave 6 awardees on the XRPL Grants website.

Interested in applying for funding for XRPL Grants? The next wave of applications will open in 2024! Subscribe for the newsletter to receive the latest updates at xrplgrants.org.

DeFi Projects

DeXfi - The DeFi one-stop-shop
The ultimate DeFi one-stop-shop on the XRPL! Seamlessly trade, swap, provide liquidity on a single platform. DeXfi is led by an individual developer, Chris Winkler, who is based in Austria. He has received $50,000 in funding to help support the important progress has made so far. Learn about the project via their website.

EVM.Finance
EVM.Finance solves the issue of fragmentation, providing a single hub for balances, transactions, DeFi interfaces with token metrics, and provides a terminal to support orders into the XRPL and access all information needed for investors and traders.

The team is based in the US and are led by Alexander Barry, John Barry, Maks Zhakun. Find out more about the innovative open source project through Github.

FLUIDEFI InstiLink
By providing a user-friendly suite of tools, InstiLink bridges the gap between traditional institutions and the world of blockchain. The team are based in Canada and are led by Louis Sirico, Lisa Loud, Fabian Kroll.

They have received $100,000 in funding as they aim to move forward with their efforts toward institutional adoption. Learn more about the exciting project via their website.

REDIMI - XRP Passport
XRP Passport aims to build a decentralized digital identity solution that empowers individuals to control their own identities while streamlining identity verification processes for decentralized finance (DeFi) applications & services.

There is a broad team based in Germany that consists of: Pierre Taner Kirisci, Zohaib Shahzad, Asad Khalid, Aleks Boskovski, Nadine Kamal, Abdul Samad. The project has received $100,000 in funding and you can learn more about their aims to build a decentralized digital identity on the project website.

VNX Stablecoins on the XRPL
VNX Commodities is Europe's first regulated tokenization platform and stablecoin issuer. The project is headed up by Wazen Shbair, Eugene Gavrilov who are based in Luxembourg. The project has received $100,000 in funding and you can learn more about the progress made via the project website.

Wolfram XRPL Exchange Data Infrastructure
Wolfram Blockchain Labs’ (WBL) provides real-time data aggregation services from a wide range of CEXs and DEXs.

The broader team is based in the US and consists of: Steph Macurdy, Gabriela Guerra, Jon Woodard, Maksym Kotov, Daniel Suarez, Johan Veerman, Karla Santana, Piero Sanchez, Alec Macher. The project has received $50,000 in funding and you can learn more about the team’s progress on the project website.

AI Projects

ChatXRP
ChatXRP transforms XRPL interaction, providing seamless access to Web3 services through a simple interface. Lead team member Chris Kuehl, based in the US, saw his project receive $75,000 in support. You can learn more about the project via their X account.

Education

EpicTask
The EpicTask Web3 platform combines a financial education learning environment with a seamless and efficient payment system.

The is led by Randy Nolden and based in the US. They have received $10,000 for their important efforts to educate the broader community. Learn about the project via their website.

Sustainability

EUA Carbon Token
Tokenized EU Carbon Allowances that allow retail investors to participate in the huge EU regulatory carbon markets. XRPL will provide the underlying stability mechanisms to create a token and allow it to track the real-world price of carbon.

The team, who are based in the UK is led by Gulliver Smithers, David McKie and Thomas Barker. They have received $50,000 in funding and you can lean more about their aims via their website.

Meta-Carbon
Meta Carbon's emissions tokenization tools allow companies to measure their carbon footprint and immutably store it online allowing for comparison over time as to how it is performing against its commitments to decarbonize.

The team is based in the US and is led by Tom Herman, Mark David, Andy Steward. They have received $150,000 in funding to help realize their ambitious goals.

Developer Tooling Projects

Indicator Success Rate (ISR)
ISR is a RESTful API platform equipped with integrated XRPL wallets and XUMM authentication. It offers an array of cryptocurrency trading indicators, delivering invaluable insights to traders to augment their trading strategies.

The team is led by Mario Stumpo, Gilles Chemla, Ilaria Morelli who are based in Poland. They have received $10,000 in funding and you can learn more about their efforts on their website.

Quidli - Integration of the XRPL & CRP
Quidli is a social middle layer between web3 assets and Web 2.0 collaboration apps for users to build token reward flows directly into the apps they use to digitally collaborate, starting with Discord and Slack.

The team is led by Luke Vignal, Guillaume Figielski, Justin Ahn and is based in France. They have received $10,000 in funding and you can learn more about their efforts via the project website.

Social Impact

MedLedger
MedLedger, aims to create a groundbreaking platform that merges Fast Healthcare Interoperability Resources (FHIR) standards with the XRP Ledger's (XRPL) secure and efficient blockchain technology.

The project is headed by an individual developer, Tushar Pardhe, from India. Tushar has received a $10,000 grant as he continues his work. Learn about his open source project on Github.

Tugela
Tugela is the AI-powered talent liquidity pool connecting African freelancers to the global economy. Leveraging XRP Ledger (XRPL) technology and the Interledger Protocol (ILP), Tugela enables frictionless cross-border payments, a store of value, and a gig matching engine built with Generative AI.

The team is based in Ghana and consists of Jeremy Banning, Sally-Anne Amakye, Kwame Frimpong Darkwa, Frederick Ankamah, Thokozani Mabena, Maya Diana Danquah. The team has received $50,000 in funding and you can learn more about the open source project on their website.

GameFi & NFT Projects

Ap0cene Phygital NFTs
Ap0cene Phygital NFTs allow you to create Web3 enabled garments and accessories for the future of phygital fashion e-commerce.

The team consisting of Sam Walker, Ariel Arakas, Andrew Fenlon, Ryan Beck are based in the US and received $75,000 in funding. The project is indeed open source and you can learn a great deal more about it on Github.

XRPL AI Signals by Liisa
Liisa helps NFT investors by analyzing the multifaceted landscape of NFT projects, considering both quantitative and qualitative factors like on-chain transactions, social activity, and NFT utilities.

The team is based in Portugal and consists of: Bernardo Silva, Paulo Peixoto, Kerim Tümkaya, Alexandre Collignon, Guilherme Leitão. The project has received $25,000 in funding and you can learn more about the team’s progress on the project website.

Nexus - Unity Toolkit
Nexus is an open-source toolkit that connects the Unity Game Engine and the XRP Ledger. By providing seamless XRPL wallet logins, real-time NFT generation, NFToken reconstitution, and advanced in-game transaction systems, Nexus empowers developers to create immersive gaming experiences with integrated blockchain technology.

The team is based in the US and led by Lawrence Plante, Jake Burkhalter, Kyle LeMaster, Derek Blasko. The project has received $150,000 in funding and you can learn more about the open source project on Github.

The Shillverse
The Shillverse is a Play2Mint NFT game on the XRPL. It provides a mix of classic idle and passive gameplay features, and has a Unity game in development.

The project is led by an individual developer, Steve Dodd, who is based in Australia. Steve’s project has so far received $10,000 in funding and you can learn about his progress on the project website.

XRPL4GD
An open source XRPL plugin that will extend the capabilities of the Godot engine. Game developers will be empowered to easily integrate core XRPL features into their games across a selection of different wallets.

The team is led by Jackson Sardello, Hudson Craft, Andrew Laitinen and is based in the US. They have received $50,000 in funding and you can learn more about the open source project via Github.

UniversalNFT.dev
The team describes the project as ‘one universal XRPL NFT format to rule them all.’ Automatic read-only translation from any popular existing NFT format/standard into Universal NFT.

The project is led by Jacob Pretorius who is based in the UK. The project has received $50,000 in funding and you can learn more about what it is building via the project website.

Zerpmon
Zerpmon is an engaging creature collecting game that leverages XRPL-based NFTs and tokens to enrich gameplay, ownership, and rewards for players.

The team is based in Australia and is led by Shen Morincome, Daniel Byers, Chris Lindmark, Steven Huling, Abdul Moin Khan. The grant sees the project pick up $25,000 in funding and you can learn about their progress on the project website.

Other

XRP for Salesforce
XRP for Salesforce is an open source data mapping layer from the XRPL to Salesforce. In addition to the open source Salesforce project, it includes relevant configuration of related Webhooks and any relevant JavaScript code to support the integration between XRPL and XRP for Salesforce.

Based in the US, the team is led by Zoe Braiterman, Alex Hochberger, Patryk Ustymczuk, Michal Bedliński. The project has received $100,000 in funding as they aim to transform the landscape of E-commerce. Find out more about the project and team on their website.

Diverse Innovators

Among the projects we see a diverse range of leaders and innovators with four of the funded projects led by women or non-binary individuals. This highlights a commitment to fostering inclusivity, and diverse perspectives within the XRPL ecosystem.

The financial backing provided includes microgrant funding for seven projects in the lowest tier ($10,000 or below) and substantial funding exceeding $100,000 for six projects. Notably, 55% of the awardees are based outside of the US, emphasizing the global reach and impact of the XRPL community.

These awardee statistics underscore the XRPL Grants Program’s dedication to supporting projects that address financial inequities, streamline traditional financial processes, and introduce innovative use cases for the XRP Ledger.

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Fund Tokenization Prepares Asset Managers for ‘Perfect Storm’

Synopsis:

  • Great Wealth Transfer will see $84 trillion of intragenerational asset transfer over the next 20 years
  • Gen Y and Z investors favor investment in alternative asset types, which tokenization makes more investable for HNW clients
  • Tokenization encourages platform changes, and will ultimately bring additional operational benefits

A triumvirate of large-scale market changes are set to transform the asset management industry over the next decade.

With trillions of dollars worth of assets set to flow into the wallets of Gen X, Y, and Z investors, much of which will accumulate onchain, asset managers who move first to serve this new market will gain an advantage in capturing this revenue opportunity. The immediate opportunity is similar to when the ETF format was introduced in 1993, with first-mover State Street launching the SPY (SPDR S&P 500 ETF)—now one of the largest ETFs globally. The tokenized asset format is today’s generational opportunity.

Tokenization can unlock accessibility to alternative asset types and more composable assets and structures, enabling a significant change in how investors manage portfolios. With greater automation and rules-based investment allocations, entirely new strategies could also become economically viable. Integrating existing platforms with next-generation digital systems will enable the industry to modernize in stages, ultimately allowing for the adoption of new asset types at scale.

The forthcoming vicennial transformation of the industry will enable it to transform and emerge triumphant. Those at the forefront of this technology evolution stand to dominate and shape the future of asset management.

 

Great Wealth Transfer prompts global investment shake-up

The asset management industry is on the cusp of the largest wealth transfer event ever, set to last for the next two decades. Consulting firm Cerulli Associates estimates $84 trillion in assets is set to change hands as wealth passes from the baby boomer generation to Gen X, Y, and Z investors.

However, the investment behavior of these younger benefactors differs significantly from their forebears in two ways. Holding Web3 wallets and accounts on Robinhood, rather than brokerage accounts like their parents, millennials are opting for a more self-service model in their long-term holdings. Add to that the shift in risk appetite, searching for higher growth through less conventional asset types like private markets and crypto, and the need for the industry to transform quickly is clear.

Whilst the industry is not currently set up to offer this new investor class more customization, as opposed to one-size-fits-all product offerings, an 80% majority of asset managers believe customization for the masses will be an important investment strategy in the next five years.

 
 

                                          Ryan Lovell, Chainlink Labs

 

While asset managers could build their own proprietary blockchain infrastructure and smart contract systems from the ground up, that approach would require significant resources and specialized engineers, extend time to market, and be at higher risk of technical vulnerabilities or implementation errors. On the other hand, fully outsourcing the implementation would leave them with limited roadmap control, interoperability, and customizability, along with dependency risks.

Ryan Lovell, director of capital markets at Chainlink Labs, commented: “That’s why leading asset managers are taking a hybrid approach, leveraging both existing systems and Chainlink’s decentralized infrastructure to implement modular solutions that can scale across multiple blockchains.”

 

Industry transformation through tokenization

The launch of tokenized funds by firms such as BlackRock, Franklin Templeton, and Fidelity International has created a need for the fund administration industry to evolve to an onchain format. However, nearly all, 93% of fund services firms, have not automated data inputs, data checks, and key workflows, so their operations are still manually intensive, leading to increased operational costs, reduced liquidity, and missed investment opportunities. Standard transfer agent processing can take between one and three days for routine transactions, and between five and seven days for complex cases requiring additional compliance checks, cross-border settlements, or manual document verification.

“Operational efficiency is just the starting point of tokenizing funds,” said Lovell. “The real value is meeting the needs of future investors who are increasingly accumulating wealth across multiple blockchain networks.”

In order to reach this new onchain world, asset managers and their service providers may not want to make a huge investment to completely change their infrastructure, but instead adapt their existing systems to make them compatible with multiple blockchains.

For example, in November 2024, SBI Digital Markets, UBS Asset Management, and Chainlink completed the implementation of a tokenized fund to demonstrate how existing fund administration processes can be successfully made compatible with tokenized funds.

SBI Digital Markets, as a custodian and fund distributor, used smart contracts, oracle networks, and multiple blockchains to automate its processes. One of the key components was the digital transfer agent smart contract, which used multiple oracle networks from Chainlink and its blockchain-agnostic architecture to create a unified golden record.

Lovell compared the digital transfer agent to an offchain/onchain coordinator that does everything that a traditional transfer agent does, but in digital form.

“It does not replace the existing system but enables firms to be compatible with blockchain and then offer a service that can scale to all their customers,” he said. “Asset managers should be demanding this from their service providers.”

The pilot showed that a tokenized fund could maintain its share register on one blockchain while using Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable the processing of intensive fund lifecycle activities such as subscriptions and redemptions on different blockchains while meeting institutional security and compliance standards.

Swift, UBS Asset Management, and Chainlink also settled tokenized fund subscriptions and redemptions using the Swift network, which enables payments with fiat currencies across more than 11,500 financial institutions in over 200 countries.

                                     Winston Quek, SBI Digital Markets

Winston Quek, CEO at SBI Digital Markets, said in a statement: “This new way of launching fund structures and administering them via smart contracts empowers both fund managers and their service providers to deliver new onchain financial products and lower operational costs to investors, both things they are actively looking for.”

In addition to lowering costs, using blockchains increases transparency and allows real-time reconciliation between the fund distributor and the fund issuer. Lovell highlighted that Chainlink can also use the same architecture to enable investors who want to hold tokens that are backed by offchain assets, settle these tokens across any blockchain, incorporate data that is needed to process transactions onchain, such as NAV data, and coordinate payments between distributors and the asset managers.

In the U.S. there are requirements around private and public funds and Chainlink enables asset managers to consolidate and consume onchain record keeping while fulfilling regulatory obligations. U.S. funds also require the distributor to onboard users and buy and sell the fund while the custodian and fund accountant provide reporting data.

“We allow all of those service providers to coordinate outside of their firewalls,” said Lovell. “Chainlink’s goal is to enable the TradFi and DeFi worlds to seamlessly connect, which increases utility.”

 

The Great Wealth Transfer is driving asset management onchain

With $84 trillion set to flow from baby boomers to Gen X, Y, and Z, their demand for alternative asset types and customization will shape the future of asset management. While today’s systems may be prohibitively expensive to offer these benefits at scale, tokenization changes the economics.

Tokenized funds by BlackRock, Franklin Templeton, and Fidelity International have already proven the demand for onchain assets, while a solution by SBI Digital Markets, UBS Asset Management, and Chainlink has demonstrated the operational efficiencies of blockchain technology and how onchain assets can be provided at scale.

The choice is clear for asset managers and service providers: embrace the tokenization revolution and lead the next era of finance or risk being left behind. Those who act now will not only gain a first-mover advantage but also shape the future of the industry.

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Stellar's Ecosystem Surges Forward: Smart Contracts, Lightning Speed, and Real-World Impact in 2025

The Stellar blockchain ecosystem is experiencing remarkable momentum in 2025, with groundbreaking technical achievements and expanding real-world adoption that position it as a major player in the decentralized finance landscape. From lightning-fast transaction speeds to innovative smart contract capabilities, Stellar is demonstrating that blockchain technology can deliver both performance and practical utility.

Technical Breakthroughs Drive Performance

The Stellar Development Foundation's Q1 2025 quarterly report reveals impressive technical milestones that showcase the network's maturation. The platform now processes an astounding 5,000 transactions per second with remarkably fast 2.5-second block times, putting it among the fastest blockchain networks in operation today.

This performance leap isn't just about raw numbers—it represents Stellar's commitment to creating infrastructure that can handle real-world demand. Whether it's cross-border payments, asset tokenization, or decentralized applications, the network's enhanced capabilities provide the foundation for scalable blockchain solutions.

Smart Contracts Get Smarter with Soroban

One of the most significant developments has been the launch and continued evolution of Soroban, Stellar's smart contract platform. The introduction of Contract Copilot represents a major advancement in developer experience, enabling faster and safer smart contract development through enhanced tooling and guidance.

This focus on developer experience is crucial for ecosystem growth. By lowering barriers to entry and improving the development process, Stellar is positioning itself to attract innovative projects and talented developers who might otherwise choose competing platforms.

New Token Standards Meet Market Needs

The Stellar Development Foundation has introduced new token standards developed specifically based on feedback from developers and institutional users. This responsive approach to platform development demonstrates Stellar's commitment to building technology that meets actual market needs rather than theoretical requirements.

These standards are particularly important as institutional adoption continues to grow, with organizations requiring robust, compliant, and flexible token frameworks for their blockchain initiatives.

Global USDC Integration Expands Utility

The integration of USDC across Stellar's global network represents a significant milestone for practical cryptocurrency adoption. Stablecoins like USDC provide the price stability necessary for everyday transactions and business operations, making them crucial for blockchain platforms seeking real-world utility.

This integration is particularly impactful in emerging markets, where access to stable digital currencies can provide financial services to underbanked populations and facilitate more efficient cross-border transactions.

Industry Events Build Community Momentum

The Stellar ecosystem's growing influence is evident in its presence at major industry events. The foundation's participation as a sponsor at Consensus 2025 in Toronto and Digital Assets Week in New York demonstrates its commitment to engaging with builders, investors, and institutional leaders across the blockchain space.

These events serve as crucial networking opportunities and platforms for showcasing innovative projects within the Stellar ecosystem. Recent Meridian events have highlighted creative projects like Skyhitz and HoneyCoin, illustrating the collaborative spirit and diverse applications being built on the platform.

Real-World Impact in Emerging Markets

Perhaps most importantly, Stellar's growth isn't just about technical metrics—it's about real-world impact. The platform's focus on emerging markets addresses genuine financial inclusion challenges, providing efficient payment rails and access to digital financial services where traditional banking infrastructure may be limited.

This practical approach to blockchain implementation sets Stellar apart from projects that focus primarily on speculative trading or theoretical use cases. By solving actual problems for real users, Stellar is building sustainable demand for its technology.

Looking Ahead: Enterprise-Grade Infrastructure

Stellar positions itself as offering enterprise-grade asset tokenization alongside its DeFi capabilities and payment infrastructure. This comprehensive approach makes it attractive to institutions looking for a single platform that can handle multiple blockchain use cases.

The combination of fast transactions, low costs, smart contract capabilities, and regulatory-conscious development creates a compelling value proposition for enterprises considering blockchain adoption.

The Road Forward

As 2025 progresses, Stellar's ecosystem appears well-positioned for continued growth. The technical infrastructure improvements, developer-focused enhancements, and real-world adoption initiatives create a strong foundation for expanding use cases and user adoption.

The blockchain industry has seen many projects promise revolutionary capabilities, but Stellar's focus on delivering measurable performance improvements and practical solutions suggests a mature approach to blockchain development. With transaction speeds that rival traditional payment systems and growing institutional adoption, Stellar is demonstrating that blockchain technology can move beyond experimental phases into mainstream utility.

For developers, institutions, and users looking for blockchain solutions that prioritize both performance and practical applicability, Stellar's 2025 developments represent significant progress toward a more accessible and useful decentralized financial ecosystem.

Source: The Dinarian ⚡ Claude AI

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Soroban Security Audit Bank: Raising the Standard for Smart Contract Security

The Stellar Development Foundation (SDF) is deeply committed to helping ensure that the highest security standards are available for projects building on the Stellar network. Last year SDF launched the Soroban Security Audit Bank, an initiative to provide projects access to auditing experts and tooling that are proven to help prevent hacks by catching potential bugs, inefficiencies, and security flaws before contracts go live. Through the Soroban Security Audit Bank, we’re empowering teams building on Soroban with comprehensive security audits from leading audit firms, enhanced readiness support, and robust tooling, significantly elevating the ecosystem’s safety and efficiency.

Since launch, the Soroban Security Audit Bank has successfully conducted over 40 essential audits, deploying over $3 million to support security of the smart contracts on Stellar. Check it out!

 

Ecosystem Success Stories: How the Soroban Audit Bank Drives Security Forward

By making automated formal verification available to developers, in addition to allocating significant budget for securing many of the top DeFi protocols built on top of Stellar, SDF has established a new security standard in the Web3 ecosystem. Mooly Sagiv, Co-Founder of Certora
SDF has been a strong partner as we’ve worked with teams across the Stellar ecosystem. SDF’s Audit Bank initiative allows for a smooth and streamlined review process, and is a clear reflection of the Stellar ecosystem’s enhanced commitment to security. Robert Chen, CEO of OtterSec
 

Leading projects within the Soroban ecosystem have highlighted the impact of the Audit Bank

Finding a good auditor is difficult, expensive, and high-stakes. The Audit Bank streamlines the process and supports ecosystem projects with security review at critical growth milestones. Markus Paulson, Co-Founder of Script3
The audit firms we worked with deeply understood the full ecosystem and the underlying protocols used. Their expertise and the tools from the Audit Bank strengthened our security and supported user and investor trust. Esteban Iglesias Manríquez, Co-Founder of Palta.Labs

What's New in 2025: Enhanced Audit Support for Soroban Builders

Teams building financial protocols, high-dependency data services, high-traction dApps funded by the Stellar Community Fund are able to request an audit and will typically be matched with a reputable audit firm within two weeks. We recently restructured the program for this year to enhance audit efficiency and incentivize accountability, and rapid and complete vulnerability remediation:

  • Complimentary Initial Audit: Projects will need to contribute 5% of the audit cost upfront, but this co-payment amount is eligible for a full refund, provided that critical, high, and medium vulnerabilities identified are swiftly remediated within 20 business days of receiving the initial audit report (learn more).
  • Incentivized Security at Key Traction Milestones: Complimentary, extensive follow-up audits are available as projects achieve critical traction milestones (e.g., $10M and $100M TVL). These audits include deeper assessments such as formal verification or competitive audits, significantly boosting project security at pivotal stages.
  • Advanced Security Tooling: Projects can enhance their security self-serve through complimentary or discounted access to specialized tooling, which provide vulnerability detection and formal verification capabilities (see full list of available tooling). These tools are encouraged to capture ‘easy-to-spot’ issues prior to audit as well as a final check post-audit to increase the effectiveness and thoroughness of audits.
  • Enhanced Audit Readiness Support: Projects receive structured preparation support, including the implementation of best practices and security standards based on the STRIDE threat modeling framework. This ensures project teams are thoroughly prepared, optimizing audit efficiency and minimizing delays.

Get Started Today

If you're already funded through the Stellar Community Fund, meet the criteria and ready to secure your smart contracts, check your email for an invitation to submit an audit request–if you haven’t received one, contact [email protected].

If you haven't built on Stellar yet, we encourage you to start your journey with the Stellar Community Fund to become eligible for future security audits and ecosystem support. For any broader questions on the program, contact [email protected].

Also, we’re organizing an exciting series of workshops–join us for the kick-off on Soroban Security Best Practices on Friday, May 30, 2025 at 2 PM ET on @StellarOrg. Together, we're shaping a secure and resilient future for smart contracts on Stellar.

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