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Bybit to List Stable (STABLE) Token on Spot Market

Bybit to List Stable (STABLE) Token on Spot Market

Stable, backed by Bitfinex and Tether, will launch its Layer 1 mainnet with USDT gas on Dec. 8 after raising $1.325B, aiming for high throughput via StableBFT consensus.

USDT

Summary

Bybit will begin spot trading of Stable (STABLE) on Dec. 6 ahead of its Dec. 8 Layer 1 mainnet launch. Backed by Bitfinex and Tether, Stable uses USDT as its native gas token and targets high transaction throughput through its StableBFT consensus. The project raised $1.325 billion in pre-launch deposits, has a fixed supply of 100 billion STABLE tokens, and incorporates governance and staking mechanisms.

Terms & Concepts
  • Layer 1 blockchain: A base blockchain network that processes and records all transactions without relying on another underlying blockchain.
  • USDT as native gas: Using Tether (USDT) stablecoin to pay transaction fees directly on the blockchain.
  • StableBFT: A consensus mechanism designed to achieve high throughput and fast finality on the Stable blockchain.