Bitfinex-backed Layer 1 Stable unveils tokenomics ahead of mainnet deployment
Stable, the blockchain platform backed by Tether and Bitfinex, unveiled the tokenomics for its native STABLE token on Tuesday.The project said in the announcement that the STABLE token will support the governance and security of the network, which is designed to support high-volume stablecoin transactions.With a fixed supply of 100 billion, the token will underpin network consensus via a delegated proof-of-stake mechanism called StableBFT. Holders will be allowed to delegate their stake to selected validators, establishing a "meaningful economic commitment" from operators, the post said.STABLE token holders also participate in protocol governance, voting on crucial matters such as protocol upgrades and allocation of community and ecosystem reserves.The project emphasized that STABLE token will not serve as a payment asset. Users will continue to settle all transactions in USDT, the world's largest stablecoin, without needing to hold or interact with STABLE for everyday operations."STABLE exists to secure the consensus mechanism through meaningful economic stake, coordinate governance and protocol upgrades, and support ecosystem incentives and long-term sustainability," the post stated.AllocationMeanwhile, 10% of the token will be allocated for genesis distribution to bootstrap liquidity and community engagement, while 40% goes to developer grants and partnerships. The team will distribute 25% each for the team and early investors, subject to a one-year cliff and four-year vesting schedule. There are no inflationary emissions planned, and staking rewards will tie delegators to a share of USDT-denominated network fees collected in a protocol vault, Stable said.Stable said its next phase focuses on preparing for mainnet deployment, including validator onboarding and developer tooling integrations. No specific launch date was provided, but the company outlined a phased rollout starting with governance activation for token holders.Pre-deposit campaignSince October, Stable launched two pre-deposit campaigns to allow users to deposit stablecoins in exchange for future rewards tied to the network’s upcoming native token and ecosystem incentives.The first phase of the campaign triggered backlash on social media platform X, as multiple users alleged that a bulk of deposits originated from a small cluster of large wallets, which transferred funds prior to the official announcement. Some crypto community members claimed that insider front-running was involved in the campaign, and criticized there being limited room for actual retail participation.For phase 2, the project adopted a per-wallet deposit limit and individual wallet requirements, in an apparent aim to prevent a few whale wallets from dominating the deposits. It said on Nov. 15 that phase 2 concluded with over 10,000 verified wallets contributing over $1.1 billion in deposits.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.