Stable, supported by Tether and Bitfinex, has unveiled the details of its innovative Layer-1 blockchain initiative, putting a spotlight on the tokenomics of its core asset, the STABLE coin. The total supply for this coin is capped at a solid 100 billion, crafted to be the linchpin for network governance and security. Purposely designed for high-frequency stablecoin transactions, the venture stands poised to make significant strides in the digital currency space.
How Does the Governance Model Work?
The governance of STABLE operates on a delegated proof-of-stake system known as StableBFT. Holders of the coin delegate their assets to validators, therefore bolstering network security and participating in governance choices. According to the team, this participation doesn’t just manifest an economic commitment; it also fortifies the decentralization and enduring sustainability of the network.
Clarifications by the Stable team indicate that the STABLE coin isn’t intended for direct payments. It primarily serves for securing consensus and shaping governance decisions, with everyday transactions conducted using USDT, the leading stablecoin globally. This conceptual design ensures that everyday transaction concerns don’t burden the STABLE coin’s operations.
When is the Mainnet Launch?
The mainnet phase is on the horizon, with Stable concentrating efforts on increasing validator engagement and integrating developer resources. Although a specific launch date is still under wraps, the mainnet roll-out will adopt a phased approach, starting with activating governance features.
Two investment rounds initiated in October have turbocharged the project’s advancement. On the social media front, some murmurs arose around the concentration of early investments to a minimal number of wallets. In retort, the project’s second phase imposed limitations on single investments, successfully involving over 10,000 verified participants who invested upwards of 1.1 billion USD in stablecoin. The team asserted this funding aims to strengthen network security, expand governance involvement, and extend the USDT-based transaction framework.
Noteworthy details include:
- 10% of STABLE supply will boost liquidity and community engagement.
- 40% reserved for developer initiatives and partnerships.
- 50% allocated to team members and early backers, subject to vesting terms.
Overall, the project aligns with its mission to pave the way for groundbreaking developments in blockchain technology. Through this structured approach, the Stable initiative aims to reshape the landscape of stablecoin transactions and governance, while concurrently ensuring robust network integrity and governance participation.
