Stable, a Layer 1 blockchain project backed by Bitfinex and designed specifically for stablecoin payments, has officially launched its mainnet and native STABLE token. The project, which uses Tether's USDT as its native gas token, aims to drive institutional and retail adoption of stablecoin assets.
The mainnet launch of StableChain was announced on Monday, accompanied by the creation of the Stable Foundation, an independent organization tasked with overseeing the blockchain's growth through grants, community programs, and protocol governance. The STABLE token, with a fixed supply of 100 billion, will serve as the network's utility token for governance and security within its delegated proof-of-stake consensus mechanism, StableBFT. All transaction fees on the network will be paid in USDT.
"We sit at the center of a major financial revolution, which is poised to completely rewrite the way digital payments are processed and received around the world," said Stable CEO Brian Mehler. The project's pre-deposit campaign reportedly attracted over $2 billion in deposits from more than 24,000 wallets. Stable has previously secured $28 million in seed funding led by Bitfinex and Hack VC, with advisors including Tether CEO Paolo Ardoino.
In a related development, cryptocurrency exchange LBank announced the listing of the STABLE token on its spot market. Trading for the STABLE/USDT pair commenced on December 8. To celebrate the listing, LBank is running promotional campaigns with a total reward pool of $90,000, including zero trading fees for the new pair.
Stable has also announced partnerships with institutional firms including Anchorage Digital, PayPal, and Standard Chartered's tokenization platform, Libeara. The project positions itself as an EVM-compatible blockchain optimized for speed, scalability, and compliance within the USDT ecosystem.
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