TL;DR
- Stable launched its mainnet and the STABLE token, backed by Bitfinex and using USDT as the ecosystem’s gas, alongside the Stable Foundation.
- STABLE serves as the network’s governance and security token.
- The network attracted $2,000M in pre-deposits and formed partnerships with PayPal, Anchorage, and Standard Chartered to integrate payments and DeFi.
Stable, the Bitfinex-backed Layer 1 blockchain built on USDT, went live with its mainnet and native token, marking the launch of its payments and stablecoin ecosystem. The project also unveiled the Stable Foundation, an independent organization designed to manage network development, support community programs, and participate in protocol governance.
Introducing a Complete and Renewed Ecosystem
StableChain is designed to facilitate both institutional and retail integrations, using USDT as the gas token for all transactions. STABLE will serve as a utility token for network governance and security, allowing holders to delegate to validators and vote on key protocol decisions. The network runs on a delegated proof-of-stake consensus mechanism called StableBFT and offers staking rewards from a portion of network fees denominated in USDT.
Ahead of the mainnet launch, a pre-deposit campaign raised over $2 billion across more than 24,000 wallets in two phases. The project had previously secured $28 million in a seed round led by Bitfinex and Hack VC, with guidance from Paolo Ardoino (Tether CEO and Bitfinex CTO), Nathan Macauley (Anchorage CEO), and other crypto angel investors. In October 2024, Bitfinex also led a $3.5 million funding round for Plasma, an EVM-compatible sidechain focused on eliminating USDT transaction fees.
The StableChain launch coincides with strategic partnerships with institutional and payments-focused firms, including Anchorage Digital, PayPal, and Standard Chartered’s Libeara tokenization platform. The goal is to enable both institutions and the DeFi community to join the ecosystem and use stablecoins for efficient payments.
STABLE Tokenomics
The STABLE token has a fixed supply of 100 billion. Distribution allocates 10% for genesis, 40% for developer grants and partnerships, and 25% each for the team and early investors, with a one-year cliff and four-year vesting schedule. There are no planned inflationary emissions, and all network transactions will continue to settle in USDT.
CEO Brian Mehler emphasized that the initiative aims to “rewrite the way digital payments are processed globally, activating a fully on-chain economy for individuals and enterprises.” The project lays the foundation for a USDT-based payments and governance ecosystem, combining security, institutional participation, and scalability to drive mass adoption
