Stellar SEPs Flashcards
What is SEP 40
Final bridge. “Mother of All Bridges” (MOAB). Pulls all assets into all bridges. When ready, burns all bridges.
Helps users build a product or service that interoperates on STELLAR defining on what qualifies as credible/authorized interactions and also cancels out what is not.
What is a Smart Contract
Stackable Layers - think ‘legos’. With multiple nodes.
Eliminates third-party; straight into execution mode.
- Transmutable and immutable.
- Secure and encrypted.
- Eliminate of middlemen.
- Automation = speed & efficiency.
What is XELMO/Monero
Another layer and blockchain integrated into Core. Hybridized by BunBun - built his own lego for QSI Governance only.
Started in 2014.
Timeline = Q1 2025
Mid-2026 - app approval process begins.
Late 2026 - XELMO Token listing begins.
Example of a Basic Smart Contract
Several actions, programs and contracts at the same time.
Examples of Fancy Smart Contracts
Multiple series of criteria met (many pieces). Have many lego pieces to layer to form into many shapes (ie. massive lego land).
autotrades/tradebots
royalties/salaries/bonuses
dApps, elections, healthcare, insurance, legal contracts, logistics, digital ID, real estate, supply chain, etc
How does a Stellar Fancy Contract work?
All devs on different teams building different matrices. But all building Stellar Cities and Cosmos.
Example: CBDCs
= one matrix XELMO
= one matrix CBridge
Different tokens but similar functions
What’s PBFT
What will happen in 2040?
The entire world will be wrapped into Stellar!
What is a dApp?
Will allow us to write our own smart contracts in the future.
What is Soroban?
It’s a platform (not a smart contract!)
A developer-friendly Rust-based smart contract platform. Can issue Stellar Smart Contracts. Brings bridges in. No other platform has the functionality to do this.
This the ‘plate’ holding all smart contracts.
What does SEP stand for and what is it?
Stellar Ecosystem Protocol.
Rules and regulations for Stellar (ie. SOP - Stellar Operating Procedures)
What is SEP 2
Acts like a recipe - rules. The intention behind the SEP must be written/coded for.
What is SEP 43
Standard Web Wallet API.
standardize assets and wallets, within the Stellar network.
API makes things easier - easier to configure and push same info to new wallets.
Removes need for non-WH ninjas to build wallets. Think IBM z/OS + IntGenAIML.
New wallet apps can hold multiple wallets + signing authority. This is the GOTCHA SEP! Ensures cockroaches can’t make own wallets in future.
What does API mean in SEP 43?
All non-WH devs/normal people can take API and build on top of it and add new features. But has basic program foundational algorithm on it.
WHs set it up to encourage ‘normal people’ to use “ours and have access to entire platform”.
What is SEP 42
Stellar Asset List (SAL)
standardize assets and wallets, within the Stellar network.
Ability to create standardized bespoke community. Allows feedback/collaboration with community. Ability to request assets be added (eg. recommended list of assets on Lobstr wallet). Ability to report ‘bad actors’ (ie cockroaches are writing the SEP 42 hehe)
WHs will take it over and blacklist cockroaches and allow QSI Quorums to collaborate with each other or companies. Can have QSI recommended files (eg QSIDAO can use as project/asset filters) - comes in future with regulations & enactment of SEP 42. Another GOTCHA SEP to catch cockroaches.
Connected to SEP 1 (info file = KYCAML)
What is SEP 1
Stellar Info File Update
Added KYC currencies. Building CBDC assets & bridges. Add contract files to currencies = KYCML validator for currencies (prevents scams).
What is SEP 41
Soroban Token Interface
Art of War SEP
Relates to smart contact tokens (CAP 46-6), but provides a more flexible way to make tokens interoperable with Stellar and Soroban.
(native vs interface)
Only WHs can see original code. Soroban/SDF employees can only see public version they are authorized for.
Public can only use public version given to them through a specific API. Limits actions to only:
- push/pull transfer
- asset administration
WH security - only WH can see the sneaky code in the background.
SEP 41 = clawbackable. Fake/scam assets are the bulk of why we need this SEP; they will be cheesecaked.
Everything will be prettified except SEP 41.
What is CAP 46-6 - Part 1 of 3
Smart Contract (SC) Standardized Asset (SAC)
This is why Stellar is Special!!
charges max cap tokens from 64 bit to 256 bit (922 billion to 170 quintillion!)
Contracts cannot be extended. Must create new separate contracts. Only Soroban SC allowed (no other SC blockchain allowed).
Outliers are QPs - QPs have access across multiple trustlines and multiple assets.
Bridges all world assets/blockchains. Even SC/programming of token to be run by Stellar Soroban.
What is CAP 46-6 - Part 2 of 3
Admin interface = controls supply & “simple compliance”
Clawbacks/clawbackable assets, white/black lists
Create “dedicated fee lane” and remove/override “arbitrary pre/post hooks and arbitrarily embedded expensive program”.
What is CAP 46-6 - Part 3 of 3
Allow SC to interoperate with Stellar assets via “native contract implementation”.
Don’t want open source coding; ONLY “native contract” (native = coding by WHs).
Non WH devs can still customize SC if needed. “BUT” WH SC more “efficient and cost effective” = to encourage most devs to choose native implementation. Eg IBM z/OS.
What is Account Abstraction?
“Hacking the hackers”
What is “Federated Byzantine Agreement System”
Stellar Consensus Protocol (SCP)
QSI example - all have to agree to reach TT level of ICO. And Quorums/Quorum Slices.
Decentralized, ‘leaderless’ (meaning equal opportunity amongst leaders/grow leaders & have equal weight in our votes).
Networks to efficiently reach a consensus outcome on some decision.
QSI is the ONLY organization beta-testing SCP and Quorum.
What is Interoperability?
What are Cross-Border Payments?
