Everything you need to know about Stellar (XLM) inside of Exodus.
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In this article:
What is the Stellar network?
Stellar is an open-source payments network created in 2014 by the Stellar Development Foundation. It aims to provide a payment network with low transaction fees and fast confirmation times.
The main asset of the Stellar network is Stellar (XLM).
What is Stellar's minimum balance?
The Stellar network requires all accounts to hold a minimum balance of 1 XLM.
This means a new address needs to receive at least 1 XLM to be activated.
The XLM minimum balance introduces a cost for creating an account, which can help limit the creation of spam accounts and ensure the network runs efficiently.
The Stellar minimum balance is locked and can't be spent or used in transactions.
You can read more about the Stellar (XLM) minimum balance requirements in Stellar's official documentation.
What are base reserves?
A base reserve is a unit of measurement used to calculate the XLM minimum balance. The size of a base reserve is determined in a vote by Stellar validators, which occurs every few years.
Currently, one base reserve is 0.5 XLM.
Activating an XLM address costs 2 base reserves, which means that 1 XLM is needed to activate an address.
If a Stellar address holds tokens other than XLM, opens trust lines, or stores extra data, more base reserves will be required, increasing the minimum balance.
How does the XLM minimum balance work in Exodus?
Because the Stellar network requires a minimum balance of 1 XLM, you also need at least 1 XLM to use XLM in Exodus.
When using XLM in your Exodus wallet:
Your XLM address in Exodus requires a 1 XLM minimum balance.
If it is your first time using XLM, you will need to send at least 1 XLM to your wallet to activate it.
The minimum balance of 1 XLM is locked, and it's impossible to withdraw it.
After your XLM address is activated, you'll be able to receive XLM transactions of any size.
How do I activate my XLM address?
To activate your XLM address in Exodus, you need to send at least 1 XLM to your wallet. Once received, your address becomes active on the Stellar network.
For a guide on how to receive crypto with Exodus, visit: How do I receive Bitcoin and crypto in Exodus?
If your address isn't activated, any deposit below 1 XLM will be rejected by the network, and the transaction will fail.
After your XLM address is activated, you'll be able to receive XLM transactions of any size.
What XLM address format does Exodus support?
Exodus only supports standard Stellar addresses, which always start with a "G".
Some exchanges, like Kraken, use muxed addresses, which start with an M. A muxed address combines a standard Stellar address and memo ID. These platforms might ask if you want to send or receive with muxed or standard XLM addresses.
Exodus does not support muxed addresses. If you send or receive XLM with Exodus, always select the standard address, starting with a "G". Otherwise, you might see an error that the address is incorrect or not formatted correctly.
For example, if you deposit to Kraken or withdraw to Exodus, you must select the "memo required" address, the XLM standard address, instead of a muxed address.
Please note that when sending XLM from Exodus to another platform using standard addresses, you often need to include a memo. For more information, visit: What memo or destination tag should I use when sending to Exodus?