Stellar Community Fund: $10M+ in XLM Distributed in 10 Review Rounds
Author
Anke Liu
Publishing date
SCF
Developers
Community
The Stellar Community Fund (SCF) stands as more than just an awards program—it's a catalyst for groundbreaking ideas and a beacon of community-driven development on Stellar and Soroban. As we celebrate the milestone of distributing over $10M in XLM* to more than 130 projects in 10 review rounds this year, we're not only reaffirming our dedication to innovation but also signaling a significant scale-up in our funding, aiming to increase the amount awarded by five times that of previous years.
1. Familiarize Yourself with the Official Rules & Eligibility
Ensure your submission aligns with the guidelines in the SCF Handbook. For instance, projects based on generic Stellar network use cases must demonstrate to have an active and significant user base to be eligible.
2. Be Clear and Concise
Your submission should quickly convey the essence and feasibility of your project. Avoid lengthy narratives; focus on succinctly describing how your project integrates with Stellar and Soroban and provides value to the ecosystem.
3. Stand Out with Ecosystem Impact
Distinguish your project from existing ones. Does it target a new market, introduce innovative features, or attract new users? Review awarded projects on communityfund.stellar.org/projects and showcase the unique contribution of your project to the ecosystem.
4. Demonstrate Thorough Understanding of Stellar and Soroban
Demonstrate how Stellar’s and Soroban’s capabilities uniquely benefit your project. Be explicit about their integration and support your technical architecture with clear, articulate documentation, process diagrams and code snippets as appropriate.
5. Build for User Adoption
Your idea is only good if there’s a clear need for it, and users will adopt it. For first time submitters of the Activation Award, ensure your deliverables lead to an MVP capable of gaining user traction. This is crucial for validating your concept for future Community Awards.
6. Reasonable Budgeting and Clear Deliverables
Outline a budget that aligns with realistic deliverables within the timeframe of the award type (1-1.5 months for Activation Awards, 2-3 months for Community Awards). Remember, SCF Awards focus on funding Stellar and Soroban integration, not user acquisition or unrelated expenses.
7. Showcase Team Expertise and Dedication
Highlight your team’s experience with Stellar and Soroban, and their commitment to the project. Share any past achievements that demonstrate your capability to deliver.
8. Actively Engage with the Stellar Community
Participate in the Stellar Developers Discord. Sharing your plans and staying informed on the latest developments can garner valuable feedback and show your dedication to the ecosystem.
As the Stellar Community Fund continues to empower developers and entrepreneurs, we invite you to join this journey of innovation and impact on communityfund.stellar.org. With your unique ideas and SCF’s supportive community, we can shape the future of finance and beyond!
*To determine the number of XLM equal to the USD value of any Award, the USD valuation of XLM shall be calculated using the CF Stellar Lumens-Dollar Settlement Price 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), or, if such settlement price is unavailable or reasonably suspected by SDF to be unreliable, the settlement price as reported on a substantially similar and equally reputable cryptocurrency index provider as determined by the SDF in its discretion. The USD valuation of XLM for any particular Award shall be calculated using the CF Stellar Lumens-Dollar Settlement Price (or other agreed upon settlement price) reported on the day such Award is scheduled to be paid. The Participants acknowledge and understand that XLM is a highly risky and volatile asset, and that SDF does not provide any representations, warranties, or guarantees of its value.