Stable’s first deposit phase hit its $825 million cap within seconds of launch, raising concerns over pre-announcement deposits and potential front-running.
Stable, a stablecoin Layer 1 project, announced that its first deposit phase reached the $825 million cap seconds after opening. Over 70% of deposits were made before the official announcement, prompting concerns about front-running. Key DeFi partners such as Pendle, Concrete, Morpho, LayerZero, Frax Finance, and USDT0 contributed to the initiative.