Despite Stellar’s remarkable performance in recent months, CEO Danelle Dixon believes the network is only scratching the surface of its potential.
Dixon made the assertion in a recent interview with CoinDesk, where she outlined the network’s growth priorities. Notably, the interviewer highlighted Stellar’s recent momentum, with the network adding 400,000 new addresses in a single quarter and real-world asset (RWA) tokenization surpassing $600 million in the first half of the year.
Stellar CEO Wants More Growth
Reacting, Dixon praised the network’s recent momentum. She attributed the address growth to wallet expansion, with platforms like Decaf and Vibrant expanding their user base on Stellar. According to her, the wallet’s growth suggests that people are using the network.
However, she emphasized the need for faster expansion, particularly in total value locked (TVL). The Stellar CEO suggested that reaching a $1 billion TVL milestone on Soroban, the network’s smart contract platform, is among her key goals.
Despite referring to the $1 billion TVL target as a vanity number, she acknowledged that it plays a critical role in showcasing Stellar’s traction.
For context, Stellar had a TVL of $143.35 million in the hours leading up to press time, according to data from DeFiLlama. This implies that reaching the $1 billion target would require a 597% rally from the current figure.
Another Growth Catalyst
Furthermore, another critical factor Dixon believes could fuel engagement on Stellar is asset diversity. She pointed out that some tokenized assets on the network are permissioned, suitable for specific user needs.
Notably, Dixon emphasized the long-term potential of permissionless assets, which are open to all users, adding that she wants to see more of these available on Stellar.
Launched in 2014 by Ripple’s co-founder Jed McCaleb and Joyce Kim, Stellar was initially designed to facilitate low-cost and fast cross-border payments. It did not take long for it to become a major rival of Ripple, which also processes cross-border settlements on behalf of its users.
Since 2014, the Stellar team has rolled out major upgrades to the network, including the addition of smart contract functionality last year. At press time, the native token of the Stellar network, XLM, is trading at $0.3851, representing a 5.35% increase over the past week.
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