Stellar Lumens to add smart contracts, partners with MoneyGram to expand ecosystem

ambcrypto.com:

While many might think of Stellar’s XLM as a rival to Ripple’s XRP, there’s much more to the dynamic since the two cryptos have very different operating models. The latest reports on Stellar only serve to prove this point.

One piece of news that caught the attention of not just investors, but also fintech stakeholders, was the Stellar Development Foundation’s announcement that smart contracts would make their debut on the XLM network this year.

— Stellar (@StellarOrg) January 25, 2022

On the question of DeFi updates, Stellar’s VP of Tech Strategy, Tomer Weller, shared that MoneyGram is now part of the project to support crypto-to-cash conversions in around 300,000 international locations.

However, one use case where smart contracts and international remittances come together is the automated market maker. This refers to the protocol which allows trading to take place in a DEX, without needing a centralized authority to get involved.

AMBCrypto spoke to Stellar Development Foundation (SDF) spokesperson, Carolyn Yi, who said,

“AMMs on Stellar have introduced more efficient pathways for cross border transactions (as of January 10, 2022, about 30% of swaps were routing through the AMMs), and the ability for developers to flexibly source liquidity support for any Stellar-based project on-demand.”

Yi further added,

“As of January 10, 2022, there was over $40 million in TVL.”

In a 2022 roadmap hot off the press, Stellar stressed that it would work on achieving network scalability by using “trust-minimized innovation.” Other goals include boosting engagement, innovation, and diversity. About Stellar’s areas of focus, the roadmap added,

“Fo