# XLM Public Evidence Research Report R1

01 Research Question
Is Stellar structurally foundation-funded, or is network activity increasingly independent of SDF treasury deployment?

02 Evidence Set
The evidence set contains official protocol/foundation documents, primary public data surfaces and limited independent project evidence where available.

03 Artifact Capture Boundary
Critical evidence metadata-only rate: 0%. Rights status is public reference, not unrestricted redistribution.

04 Claim Registry
- XLM-R1-C1: SDF sells XLM to pay operational expenses and support mandate work.
- XLM-R1-C2: The Dashboard API gives live totals for supply metrics.
- XLM-R1-C3: Validators in Stellar participate through SCP quorum sets.

05 Evidence Timeline
Dates are preserved at observation level to distinguish current status from historical event records.

06 Numerical Reconciliation
- XLM-R1-N1: 50001786839.9124767 XLM
- XLM-R1-N2: 15832609102.461119 XLM
- XLM-R1-N3: 9077145405 XLM across three disclosed mandate buckets

07 Temporal Consistency
The evidence requires date-aware interpretation; R1 treats this as a temporal-change issue unless a direct conflict appears.

08 Semantic Consistency
Public claims often compress mechanism, governance and usage into short descriptions. R1 normalizes those claims before synthesis.

09 Cross-Source Consistency
Cross-source agreement is bounded by source dependency and does not become truth certification.

10 Structural Consistency
The claims fit the observed public mechanics without requiring a market forecast.

11 Source Dependency
Source coverage: PRIMARY_DOMINANT. Multiple URLs from the same authority are not independent evidence groups.

12 Competing Hypotheses
The ACH registry contains asset-specific hypotheses and avoids shared generic templates.

13 Counter-Evidence Search
- XLM-R1-H1: What evidence would make this false: SDF treasury deployment remains the dominant economic dependency.
- XLM-R1-H2: What evidence would make this false: Network activity is becoming less dependent on SDF treasury flows.
- XLM-R1-H3: What evidence would make this false: Payments and RWA adoption dominate the structure more than treasury mechanics.
- XLM-R1-H4: What evidence would make this false: Validator quorum composition is the primary structural constraint.
- XLM-R1-H5: What evidence would make this false: Foundation funding and payment-network mission jointly explain current structure.

14 What Is Consistent
Material numerical observations reconcile with their cited public source values.

15 What Remains Unresolved
Independent replication, longitudinal durability and implementation-status granularity remain unresolved.

16 What Would Change Conclusion
Contradictory primary data, source definition changes or failed numerical reproduction would change the evidence state.

17 Right-of-Reply Status
NOT_APPLICABLE: no material inconsistency or reputation-sensitive accusation is published.

18 Final Evidence Assessment
EVIDENCE STATE: TEMPORAL_CHANGE
MATERIAL INCONSISTENCY: NO

19 Provenance
Freeze package: evidence-freeze/DIGITAL-ASSET-BATCH-01-R1/XLM/MANIFEST.json.

20 Limitations
R1 is research support only. Decision usefulness is not established.