Stable to Launch Phase 2 of Pre-Deposit Campaign Next Week

In Brief

• Stable introduces wallet caps and restrictions to promote broader retail participation.
• Phase 1 filled $825M in minutes, triggering concerns over insider and whale dominance.
• Community awaits details as Stable promises fairer access but hasn’t addressed criticism directly.

Stable, a Layer 1 blockchain backed by Bitfinex and Tether, will launch the second phase of its pre-deposit campaign next week. The campaign allows users to deposit stablecoins, primarily USDT, in exchange for future rewards linked to Stable’s upcoming native token and ecosystem incentives.

In Phase 1, Stable reached its $825 million cap within minutes, sparking complaints about whale dominance and limited retail access. On-chain data showed most deposits came from a few large wallets, raising concerns over fairness and possible front-running before the official announcement.

Deposit Limits Aim to Curb Whale Activity and Promote Decentralization

To address criticism, Phase 2 will implement per-wallet deposit caps and individual wallet requirements. The new structure is intended to ensure broader community access and prevent deposit concentration among insiders.

Stable said the campaign will have a 24-hour countdown and a fixed total deposit limit, similar to the first phase. However, the company has not directly acknowledged the controversy or detailed measures to guarantee equal launch-time access.

Despite community concerns, demand for Stable’s initiative remains strong, driven by its focus on high-throughput stablecoin payments and integration with dApps. The upcoming rollout is seen as a key test of the project’s commitment to decentralisation and transparency.

Stable will release further information about Phase 2 via its X account. The company’s success in executing a fairer campaign could influence sentiment and long-term trust in the ecosystem.