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Bitfinex-Backed Layer 1 Project Stable Reveals Tokenomics Before Mainnet Launch

Bitfinex-Backed Layer 1 Project Stable Reveals Tokenomics Before Mainnet Launch

Stable, supported by Bitfinex and Tether, plans to launch its Layer 1 mainnet with USDT as native gas and over $1.3B in deposits, targeting high throughput via StableBFT.

USDT

Summary

Stable, a Layer 1 blockchain backed by Bitfinex and Tether, will launch its mainnet on December 8 with USDT as the native gas token. The network has secured $1.325 billion in pre-launch deposits and aims for high transaction throughput through its StableBFT consensus mechanism. STABLE tokens have a fixed 100 billion supply, serving governance and staking roles. This follows earlier disclosures of tokenomics detailing supply, vesting, and governance structures.

Terms & Concepts
  • Layer 1: A base blockchain protocol, such as Bitcoin or Ethereum, that operates independently and processes transactions without relying on another network.
  • Mainnet: The fully operational version of a blockchain network where real transactions occur using the protocol's native currency.
  • StableBFT: A consensus mechanism developed for the Stable blockchain, designed to achieve high transaction throughput.