What is Stellar
Stellar (XLM) is a network for fast, cheap international payments. It was launched in 2014 by Jed McCaleb, one of Ripple’s creators, and Joyce Kim; the project is developed by the non-profit Stellar Development Foundation. Stellar’s goal is to make sending money across countries and currencies as easy as sending a message, and to give people without a bank account access to financial services.
Instead of mining, Stellar uses its own consensus protocol (the Stellar Consensus Protocol), so transactions confirm in 5–6 seconds and fees are a tiny fraction of a cent. The network hosts tokenised currencies and assets — for example the USDC stablecoin — and a built-in decentralised exchange lets them be swapped for one another. The XLM coin (lumens) pays fees and serves as an account reserve.
Key facts
| Parameter | Value |
|---|---|
| Ticker | XLM (lumens) |
| Network at ROVEN exchange | Stellar (mainnet) |
| Address format | Starts with “G”, 56 characters |
| Confirmation time | 5–6 seconds |
| Minimum account reserve | 1 XLM |
| Network fee | A fraction of a cent |
| Memo | Required when paying out to an exchange address |
What Stellar is used for
- International transfers. Payment companies use Stellar for fast cross-border transfers.
- Tokenised assets. Stablecoins and digital versions of currencies and securities are issued on the network.
- Micropayments. Near-zero fees make it possible to send even very small amounts.
- Investment. XLM is one of the oldest and best-known cryptocurrencies.
How to exchange Stellar at ROVEN exchange
- Choose a direction, for example XLM → USDT TRC20 or USDT TRC20 → XLM, and enter the amount.
- If you’re receiving XLM, enter a Stellar address starting with “G”, plus a memo if the address belongs to an exchange.
- If you’re sending XLM, be sure to include the memo from the order — that’s how we identify your payment.
- Transactions confirm in seconds, so a swap usually takes a few minutes.
What to watch out for
- The memo is the most important part of an XLM transfer. Exchanges receive every customer’s funds at one address and tell them apart by memo. Without a memo, the payment has to be traced manually.
- A Stellar memo is a short text or number of up to 28 bytes. Copy it in full, without spaces.
- A new Stellar account is only activated once it receives the minimum reserve of 1 XLM. Send at least that amount to a new address.
- The reserve can’t be spent while the account exists: account for it when sending your whole balance.
Why Stellar needs a memo
The memo is an extra transaction field that works like a payment reference. If you’re sending XLM to a personal wallet, you usually don’t need one. But exchanges and services use one shared address for all customers and recognise deposits by memo. So when paying XLM out to an exchange, always enter its memo, and when sending XLM to ROVEN exchange, use the memo from your order.
How to store Stellar
XLM is supported by LOBSTR, Freighter, Trust Wallet, Exodus and the Ledger and Trezor hardware wallets. LOBSTR is a popular mobile wallet built specifically for Stellar. An account’s secret key starts with “S” — never share it with anyone.
Frequently asked questions
What happens if I send XLM to an exchange without a memo?
The funds reach the exchange’s shared address but won’t be credited to your account automatically. They can be recovered through the exchange’s support with the transaction details.
Do I need a memo when receiving XLM to a personal wallet?
No. For a personal wallet such as LOBSTR, the memo can be left empty.
Why won’t a transfer to a new address go through?
A new account must receive at least 1 XLM to be activated. A smaller amount won’t create the account.