Bitfinex-backed Layer 1 Stable unveils tokenomics ahead of mainnet deployment

Stable, the Layer 1 blockchain platform supported by Tether and Bitfinex, has announced the tokenomics for its native STABLE token, which will be used for network governance and security, supporting high-volume stablecoin transactions. The token has a fixed supply of 100 billion and will secure the network consensus through a delegated proof-of-stake mechanism called StableBFT. STABLE holders can delegate their stake to validators and participate in protocol governance, but the token will not be used for transaction settlement, which will remain in USDT. Token allocation includes 10% for genesis distribution, 40% for developer grants, and 25% each for the team and early investors, all subject to vesting schedules. Stable is preparing for mainnet deployment, which will begin with governance activation. The project also ran pre-deposit campaigns; the second phase, which implemented per-wallet limits to curb whale dominance, concluded with over 10,000 wallets contributing more than $1.1 billion in deposits.

(Source：The Block)