SCF #21 Recap

Gemma Dobbs
Stellar Community
Published in
5 min readJan 11, 2024

--

The Stellar Community Fund (SCF) is an open-application awards program that draws on community input to support developers and startups building on Stellar and Soroban.

Congratulations to all submitters on your hard work. We received 70 Activation and Community Award submissions, 28 of which submitted for their first ever SCF awards!

We awarded $1,295,019 worth of XLM to 23 submitters in total for SCF #21.

Scroll down for a list of all projects; but first, let’s get to know our class of SCF #21!

  • 74% of awarded projects are building on Soroban.
  • Projects represent 15 different project types, from end-user applications to bridges to wallets — the Stellar/Soroban developer community can truly do it all.
  • Regions of operations represented include (but are not limited to) Latin America and the Caribbean, Sub-Saharan Africa, and South Asia. Roughly 69% of submissions are regionally agnostic, reaching users across the globe.

Click on the project name to view their successful submission! Please note that in order to view the SCF Dashboard, you need to be logged in. If you do not yet have an account, feel free to create one or sign in with Discord.

Activation Awards

Awarded a total of $448,225 worth of XLM* to 11 projects

Projects new to SCF can request an Activation Award up to $50,000 worth of XLM* for ~1–1.5 month projects. The Activation Award is intended to support the completion of the Project’s MVP of their Stellar/Soroban integration and serves as an opportunity for the recipient(s) to demonstrate commitment to the overall Project. Learn more in the SCF Handbook.

Cross-Chain Stellar Bridging: $44,700 worth of XLM*
Tricorn is a cross-chain bridge solution that supports both EVM and Non-EVM chains, ready to integrate with the Stellar blockchain.

Extractor — Soroban Security: $50,000 worth of XLM*
Extractor is a Post Deployment security solution that provides multi-level asset protection in smart contracts against exploitation.

FX Swap by Hedgehog: $42,450 worth of XLM*
An efficient and alternative way of foreign currency borrowing or investing.

Glo Dollar (USDGLO) on Stellar: $13,000 worth of XLM*
Glo can be used like any other stablecoin, but it also enables a new crypto use case: donationless philanthropy. Like other stables, Glo Dollar makes money from the interest on the fiat reserves. The difference: the Glo Foundation does not make profits. Instead, they donate 100% of the interest received to GiveDirectly, the world’s fastest-growing charity. They provide basic incomes for people living in extreme poverty, in countries such as Kenya.

IDUNU: Help Kids Thrive: $15,000 worth of XLM*
IDUNU: A fundraising and fund distribution platform for high-impact, cost-effective charities working with underprivileged kids.

LocalCoin: $40,875 worth of XLM*
LocalCoin enables on-chain control of financially incentivized action to help social good orgs with effectiveness and trust.

Onboarding.club: $31,000 worth of XLM*
Onboarding builders across emerging ecosystems with a unified platform for resources, bounties, hackathons, jobs, grants and more.

Pakana.net Activation: $45,200 worth of XLM*
Pakana: A blockchain-driven platform reshaping payment & project management for owners, contractors, creators and fiduciaries.

Planet Pay (ex-Stellar Flow): $96,000 worth of XLM*
No code/Low code workflow builder for Stellar Classic & Soroban

Reclaim Protocol: $50,000 worth of XLM*
Reclaim protocol uses https session keys to generate zk proofs of user’s profiles, enabling verifiable credentials without APIs.

Soroban CLI Cross Platform GUI: $20,000 worth of XLM*
Transforming Soroban CLI into a user-friendly cross platform desktop application.

Community Awards

Awarded a total of $856,794 worth of XLM* to 12 projects

If the Activation Award is granted and the deliverables of the Activation Award submission are completed, the Activation Award recipient(s) can then request a Community Award (up to $100,000 worth of XLM* for 2–3 months project). Projects are able to request additional Community Awards according to the resubmission guidelines.

Paychant: Anchor On & Off-Ramp in Africa: $100,000 worth of XLM*
Paychant is a payment gateway that helps Africans on-ramp and off-ramp right inside any self-custodial wallets, DEX, or dApps using Africa’s localized payment methods.

Beans App: $73,780 worth of XLM*
Beans is a non-custodial payments and savings app built on the Stellar network. Most blockchain based apps have targeted the crypto community. Beans has taken a different approach and will target the general public. Inside the app all blockchain-related things have been abstracted away, offering a bank experience using blockchain technology!

CashAbroad Letter of Credit: $60,000 worth of XLM*
Conduct business abroad as easily as with locals for exporting and importing businesses in LATAM. CashAbroad facilitates cross-border payments with USDC and Fiat.

Fluxity: $68,000 worth of XLM*
Offers businesses and individuals unprecedented payment customizability through a precision-crafted token streaming platform.

Keizai: $43,000 worth of XLM*
Keizai is a postman-like Soroban contract testing platform.

LumosDAO: $54,000 worth of XLM*
LumosDAO offers Decentralized Governance on the Stellar network. Create, manage, and participate in DAOs seamlessly, with transparency and efficiency.

Nauta Land: $75,334 worth of XLM*
Nauta makes Real Estate investments available to everyone.

Slender Lending Protocol: $97,500 worth of XLM*
A money market for the Soroban ecosystem.

Smart Deploy: $49,900 worth of XLM*
Smart Deploy is an advanced platform designed to streamline and simplify the uploading, invoking, deploying, and upgrading of smart contracts on Soroban.

SorobanLearn: $62,000 worth of XLM*
Bringing developers from zero to hero in their Soroban smart contract development journey.

Soroswap.Finance Aggregator: $100,000 worth of XLM*
Open-source AMM protocol with ecosystem interoperability for providing liquidity and trading Stellar assets in Soroban.

TAP4Change: $73,280.00 worth of XLM*
The social micro-funding platform that makes the Donation Experience (DX) attractive to the younger generations.

A big congratulations to these standout projects! Your creativity and innovation have truly made an impression, and we’re eager to see the positive impact you’ll bring to the Stellar ecosystem. Stay tuned for details on how we will be working together to support and nurture your ideas.

The next SCF deadline is February 18th, 2024, for SCF #24. If you’re interested in submitting, take a look at the guidelines and submit your project before the deadline.

*The USD valuation of the Award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker XLMUSD_RR) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR).

--

--