Managing Stellar assets on LOBSTR

Modified on Mon, 18 Dec 2023 at 11:56 AM

Get to know Stellar assets

The Stellar decentralized network can be used to hold, transfer, trade or swap any type of asset.

Stellar assets, known as tokens, can be used for representing value for nearly anything: US dollars, Euros, bitcoin, stocks, precious metals, ICO tokens or just about anything you like.

In fact, there are a lot of different tokens already issued on the network. You can buy and hold tokens redeemable for most of the popular cryptocurrencies, such as Ether, or real-world funds such as Chinese Yuan.

This ability to send and receive many varied types of tokens brings flexibility to the Stellar Network and is one of the most powerful features.

All assets issued on the network (with the exception of lumens) have

Asset code: USDC (centre.io), BTC (ultrastellar.com), AQUA (aqua.network)

Issuer: the account that created the asset, e.g. GA5Z...KZVN

Entities that issue assets are called anchors. Anchors can be run by individuals, small businesses, local communities, nonprofits, organizations, etc. Any financial institution can also be an anchor and issue assets. Each anchor has an issuing account from which it issues the asset. 


We recommend only using the LOBSTR Curated and Featured (Top assets) list. Always do your own research before adding or buying unverified assets.


Asset listings in the LOBSTR wallet are not endorsements. LOBSTR wallet is only a user interface to Stellar and does not operate the Stellar Network. Anyone can issue an asset on the Stellar Network. LOBSTR has no control over the development, operation, management, marketing, or any other activity of any of the assets/tokens that are issued on the Stellar network. We can only blacklist some assets on our side, so users are not able to buy scam assets.


LOBSTR web:


   


LOBSTR mobile apps:


 

Learn more: 
Adding custom assets on LOBSTR


Types of assets

Several types of assets exist on the network:
 

Stellar Lumens

Lumens (XLM) are the native currency of the network. A lumen is the only asset type that can be used on the Stellar network that doesn’t require an issuer or a trustline. Any account on the network can hold lumens. 

Lumens act as a spam-prevention mechanism by requiring a small fee for each transaction and base reserve for active accounts. Lumens also act as a bridge currency between different assets - you can trade lumens for other assets on the network.

Non-anchored assets 

These are assets that were initially created on the network and don’t represent any assets outside of the network. For example, AQUA (aqua.network).

Anchored assets 

If an asset did not originate on the network, it is anchored on the network by an anchoring entity or anchor.
For example, bitcoin tokens (stellarport.io, kbtrading.org, whalestack.com) issued on the network represent anchored (or tethered) assets. 


 

Trustlines

When you hold assets in your Stellar account, you’re actually holding credit from a particular issuer. The issuer has agreed that it will trade you its credit on the Stellar network for the corresponding asset outside of Stellar network.

To receive or hold an asset issued by an anchor in your Stellar account, you must establish (or create) a trustline to that anchor’s account first. By doing that, you signify that you trust the issuer to properly redeem its credit. Trustlines also protect you from having random and unwanted assets sent to you. 

 


Stellar assets on LOBSTR

 

You can receive, hold, send and trade any asset issued on Stellar network directly in LOBSTR wallet.

Stellar assets are fully supported both by the web interface and LOBSTR mobile apps.


LOBSTR web:




LOBSTR mobile apps:



With LOBSTR web and mobile apps, you can

1.    Add and hold assets

2.   
Trade tokens


3.    Swap tokens

4.    Receive and request assets
 
5.    Claim and send pending payments

6.      Deposit assets
 

7.     Withdraw assets



1.  Add and hold assets

Visit the' Home' page to establish trustlines for some of the popular or featured assets, view the asset details or deposit/withdraw tethered tokens.


Use the 'Add' button to establish a trustline and add custom assets by specifying the home domain.

Keep up with the prices and charts. View the current asset balances for your Stellar account, the latest prices, and charts on the 'Home' page. Setup price alerts in the 'Settings' to be notified when the market moves and prices rise or fall using the 'Price Alerts' functionality in mobile apps.

2. Trade tokens

LOBSTR provides direct access to the Stellar Decentralized Exchange.

Place orders, buy and sell assets using the simple yet powerful trading interface on the 'Trade' page. 

Learn more: Trading in LOBSTR wallet


3. Swap tokens

Also, you can use the 'Swap' option in the side menu of LOBSTR mobile apps to exchange one asset for another, quickly and at the market rate. 

Learn more: How do I quickly swap one asset to another in LOBSTR wallet?


4. Receive and request assets

Send or receive any asset you hold on the fast Stellar network to any Stellar account, email or phone number of your choice or scan a QR code with the payment details.

Use 'Accept All addresses' function to receive any asset without manually adding trustlines.

 

5. Claim and send pending payments

Claimable balances sent to your Stellar account are referred to as pending payments in the LOBSTR wallet. 

In order to claim pending payment go to 'Transactions' > 'Pending'.Learn more: What are Claimable balances and how can I claim a Pending payment on LOBSTR?


6. Deposit assets

With LOBSTR you can receive off-chain tokens or fiat currency into your Stellar account using the Deposit option.

 

The Deposit function is available for those assets where the Deposit button is displayed. The button appears provided that the issuer/anchor of the token allows transferring the asset to the Stellar network.

 

Learn more: Depositing crypto and fiat on LOBSTR



7. Withdraw assets

In LOBSTR, the Withdraw option allows users to send out tokens off the Stellar network to other crypto wallets or bank accounts.

 

The option is available for those assets where the Withdraw button is displayed. The button appears provided that the issuer/anchor of the token allows exchanging the token.


Learn more: Basics: Withdrawing crypto and fiat on LOBSTR


Assets and network reserve

Every asset you add to your Stellar account (or equally every trustline you establish) adds 0.5 XLM to your network reserve (minimum balance). 

Trustlines persist even after you sell all your tokens. For example, even after you've sold all of your XRP, your trustline will remain open, and therefore additional 0.5 XLM will still be a part of your network reserve.

To remove an asset from your account and close the trustline, your asset balance should be zero.

To close the trustline and reduce the network reserve for your account by 0.5 XLM, open the asset details by choosing the required asset on the 'Assets' page and use the 'Remove' button.

 

Learn more: What is minimum (reserved) Stellar wallet balance?

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