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Update meeting-notes/2026-04-23.mdx
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meeting-notes/2026-04-23.mdx

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Messari published their State of Stellar Q1 2026 report ahead of this meeting, and there are numbers in it that every developer building on Stellar should understand — not as vanity metrics, but as signal for where the ecosystem is actually heading and where the real opportunities are.
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**RWA market cap** — $2 billion at the time of the meeting, up from approximately $1.5 billion at the end of Q1 2026. That is nearly a 100% jump quarter over quarter and a 3x increase year over year from the $500 million mark in Q1 2025. The biggest single-quarter move across any metric in the report.
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**RWA market cap** — $2 billion at the time of the meeting, up from approximately $1.5 billion at the end of Q1 2026. That is roughly a 33% increase quarter over quarter and a 3x increase year over year from the $500 million mark in Q1 2025. The biggest single-quarter move across any metric in the report.
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**Average daily smart contract volume** — $16 million per day in the last quarter. One year ago it was $2 million per day. For five or six consecutive quarters, Soroban transaction volume has only gone up. This is real usage: contracts being called, operations executed, applications that real users are touching.
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