Stable, a Bitfinex-backed Layer 1 using Tether’s USDT for gas, launches mainnet and native token

Stable, a Layer 1 blockchain project backed by Bitfinex and designed for stablecoin and payments integration, has officially launched its mainnet, StableChain, alongside its native utility token, STABLE. The network utilizes Tether's USDT stablecoin for all transaction fee payments (gas). The launch is supported by the newly established Stable Foundation, which will manage grants, ecosystem programs, and governance participation. The STABLE token is designated for governance and network security under the delegated proof-of-stake consensus mechanism, StableBFT, with a fixed supply of 100 billion tokens. Stable previously raised $28 million in a seed round and has secured partnerships with firms like Anchorage Digital and PayPal, aiming to facilitate global on-chain payments for both retail and enterprise users.

(Source：The Block)