Stable Launches Mainnet and Governance Token STABLE

Stable, backed by Bitfinex, launched StableChain and the STABLE token on December 8, using Tether’s USDT for transactions.

This marks a significant development in blockchain, with implications for cryptocurrency governance, USDT’s role in transactions, and potential market shifts.

StableChain Mainnet Launch Attracts Billions in Pre-Deposits

Stable, backed by Bitfinex and Tether, launched its mainnet, StableChain, along with the STABLE token on December 8. The network utilizes USDT as the gas token, highlighting its notable integration into blockchain technology. The total supply of STABLE is 100 billion, aimed at governance and network security.

The project attracted over 24,000 wallets with pre-deposits exceeding $2.80 billion. The governance token model restricts it from any payment function, focusing primarily on the Delegated Proof of Stake system for security. Institutional partners include Anchorage Digital, PayPal, and Standard Chartered’s Libeara.

The crypto community has shown interest, with industry players noting the potential implications for trading volumes and liquidity. Official channels suggest ongoing observation of regulatory feedback and market analysis to gauge longer-term impacts.

USDT Integration Sets New Precedent in Blockchain Fuel

Did you know? StableChain’s use of USDT as a gas token makes it a pioneering network for integrating a fiat-pegged stablecoin as core blockchain fuel, setting a new precedent in the industry.

According to CoinMarketCap, Tether (USDT) holds a market dominance of 6.04%, with a current market cap of $185.64 billion. Its 24-hour trading volume significantly fluctuated, with a 68.99% change, though its price remains stable at $1.00.

Coincu experts suggest that the use of USDT for transaction fees on StableChain may encourage widespread adoption, enhancing liquidity. Its governance structure and institutional backing might draw regulatory scrutiny, yet offer robust ecosystem development.