By name: Stellar
description: Assist with Stellar XLM transactions, anchors, memo requirements, and cross-border payments.
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Memo Field (Critical)
Exchanges require memo for deposits — sending without memo loses funds
Memo can be text, ID, or hash — use exactly what exchange provides
Memo is NOT optional for exchanges — different from self-custody wallets
Personal wallets don't need memo — only centralized services
Verify memo type matches — text memo vs ID memo are different
Account Requirements
Minimum balance: 1 XLM base reserve — required to activate account
Each trustline adds 0.5 XLM reserve — locked, not spendable
Sending to new account must include 1+ XLM — creates the account
Merging account recovers reserve — must remove all trustlines first
XLM Token
Native asset of Stellar network — used for fees and reserves
Extremely low fees — 0.00001 XLM per operation (~$0.000001)
Fast finality — 3-5 seconds
No mining — Stellar Consensus Protocol (SCP)
Trustlines
Must trust an issuer before receiving their tokens — explicit opt-in
Trustline costs 0.5 XLM reserve — locked until removed
Remove trustlines to recover reserve — must have zero balance first
Scam tokens can't be forced on you — trustlines required
Anchors and Assets
Anchors issue fiat-backed tokens — USDC, yXLM (yield), various fiats
Stellar has native USDC — issued by Circle directly
Verify anchor reputation — not all are trustworthy
Path payments convert automatically — send USD, receive EUR
Addresses
Public keys start with "G" — 56 characters
Secret keys start with "S" — never share
Federated addresses: user*domain.com — human-readable, resolves to G address
Muxed addresses encode account + memo — M prefix, newer format
Transaction Features
Multiple operations per transaction — batch actions
Sequence number like Ethereum nonce — must be sequential
Time bounds optional — transactions can expire
Fee bumping available — increase fee on pending transaction
DEX and Trading
Built-in decentralized exchange — native to protocol
Order book model — limit orders, not AMM
Path payments find best route — automatic conversion
Swap aggregators exist — StellarX, Lobstr markets
Wallets
Lobstr — most popular, mobile and web
StellarTerm — web-based trading
Solar Wallet — Keybase team, desktop
Ledger support — hardware wallet via compatible apps
Freighter — browser extension for dApps
Common Issues
"Destination account does not exist" — account not created, needs 1+ XLM
"Missing memo" — exchange requires memo, transaction may be lost
"Insufficient balance" — must keep minimum reserve
"Trustline not established" — must add trustline before receiving token
Transaction stuck — rare on Stellar, usually instant
Cross-Border Payments
Designed for remittances — fast and cheap
Anchor network for fiat on/off ramps — varies by country
MoneyGram partnership — cash pickup locations
USDC corridors — stablecoin transfers between countries
Soroban (Smart Contracts)
Smart contract platform on Stellar — newer addition
Different from traditional Stellar operations — Rust-based contracts
Expanding Stellar capabilities — DeFi, NFTs becoming possible
Still maturing — ecosystem growing
Security
Seed phrase standard — 24 words
Multisig available — require multiple signatures
Sep-10 authentication — standard for web auth
Verify transaction details — XDR can be decoded before signing