September Indicators and On-Chain Milestones
Despite a declining token price, the Stellar network demonstrated significant fundamental strength in September with three key achievements that underscore its growing utility.
First, the total value locked (TVL) in Stellar’s decentralized finance (DeFi) ecosystem surged to a record $152.11 million, a substantial increase from $84 million in July. This growth in capital deployed on-chain leads to tighter bid-ask spreads and deeper liquidity, creating a more robust trading environment for all participants.
Second, in a major endorsement of the network’s reliability, the U.S. Department of Commerce selected Stellar as a platform for publishing official economic data releases. This move by a federal agency positions Stellar as trusted public infrastructure and provides a verifiable, on-chain data source for auditors and compliance checks.
Third, RedSwan CRE tokenized $100 million worth of U.S. commercial real estate assets on the Stellar blockchain. As a firm already managing over $10 billion in deals and operating within SEC regulations, RedSwan’s use of Stellar to offer fractional ownership represents a significant step for real-world asset (RWA) tokenization, broadening investor access to a regulated asset class.
Implications and next checkpoint
These milestones have concrete implications for builders, institutions, and the network’s future.
Adoption is accelerated as use cases by government and regulated entities build credibility, making it easier for new projects to pass security and compliance reviews. Liquidity is directly improved by the higher TVL, which reduces price slippage for traders. For compliance, the involvement of major players pushes wallet providers and dApp developers to enhance their reporting and control features to meet institutional standards.
The focus for builders is now shifting towards developing institutional-grade tools, such as advanced custody solutions, prioritizing them over consumer-facing features.
The next critical milestone is the successful rollout of Protocol 23, a planned network upgrade focused on increasing throughput and enhancing institutional tooling. The implementation of this upgrade will be a key test of whether September’s positive metrics can translate into sustained long-term growth for the Stellar ecosystem.
