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The Stellar Development Foundation (“SDF”) is a non-stock, nonprofit corporation organized under the laws of Delaware. SDF is not a tax-exempt 501(c)(3) or 501(c)(4) organization and we don’t have plans to seek tax exempt status from the IRS. As such, SDF pays taxes similar to a C corporation.
As a non-stock, non-profit, SDF does not have shareholders, so we are not motivated by profits, share value, or dividends. Instead, we are driven by our mission: creating equitable access to the global financial system. We dedicate all of our resources to supporting Stellar, building the ecosystem, and furthering this mission. Our mandate details our progress towards reaching our goals.
If you are making an ‘everyday’ transaction on the Stellar network using a popular Stellar wallet, forgetting the memo is no big deal; it’s optional. If you are sending (depositing) lumens to an exchange, forgetting the memo will generally lead to your exchange account not being credited with lumens. If this happens, it’s important that you contact the exchange you sent lumens to — SDF can not help you recover your lumens.
We suggest finding your transaction using the Payment Locator on Stellar.Expert and getting as many details as you can regarding the transaction. Reach out to the exchange’s support team with the transaction details, let them know that you forgot the memo, and see what they can do to help you identify your transaction.
Going forward, make sure to review the address you’re sending to, verify if you need to provide a memo, and check that you provide an appropriate fee. You should only send transactions after you have double checked all of this information and verified that it is correct. Remember, it’s never a bad idea to try sending a small amount of an asset before making any transaction.
Read more here.
Minimum balances help protect the network from spam account creation. You can create an account by funding it with at least 1 lumen. Each new held asset (trustline) requires an additional 0.5 lumen reserve. To add three different assets to an account, a user must have at least 2.5 lumens: 1 XLM account reserve + (0.5 XLM asset reserve * 3 assets) = 2.5 total reserve.
If you are having issues sending a transaction from your Ledger, please make sure that your Ledger and the Stellar app on the device is up to date. Also, consider sending the transaction in a different browser.
Stellar’s social media imposters are up to no good: many want to collect your private information and private keys to steal your identity, accounts, lumens, and other cryptocurrencies. We’ve spotted Stellar imposters on Slack, Telegram, Facebook, Reddit, LinkedIn, and emails. We’d hate to see anyone in our community hurt by these people.
Here’s a quick guide to protect yourself from scammers and phishers when interacting with the Stellar Development Foundation team:
Lastly, a few quick notes:
To upgrade from the old network, log in here: https://launch.stellar.org/
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