Stable, a dedicated stablecoin and payments Layer 1 blockchain project backed by Bitfinex and powered by USDT, announced the mainnet launch of StableChain on Monday, hoping to drive both institutional and retail integrations of stablecoin assets.
Alongside the mainnet, the project launched its native STABLE token, as well as the Stable Foundation — a new independent organization set up to shepherd the Stable blockchain, according to a statement shared with The Block.
The Stable Foundation will support the growth of the Stable blockchain by providing grants, community and ecosystem programs, and participating in protocol governance, the team said. The STABLE token will serve as the network’s primary utility token for governance and security, with holders expected to take part in protocol decisions and help secure the chain, it added. Tether’s USDT stablecoin is used as the network’s gas token for fee payments.
“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, activating a truly onchain economy at both the individual and enterprise levels,” Stable CEO Brian Mehler said. “We are excited to launch the Stable Foundation and the STABLE token, allowing investors in any vertical to join our community, working alongside us to implement stablecoin rails for payments worldwide.”
Stable’s EVM-compatible mainnet launch follows its pre-deposit campaign, which drew more than $2 billion in deposits from over 24,000 wallets across two phases, the project claimed.
Also, Stable previously raised $28 million in a seed round led by Bitfinex and Hack VC, as well as advisors including Tether CEO and Bitfinex CTO Paolo Ardoino, Anchorage CEO Nathan Macauley, and other crypto angel investors. Bitfinex also led a $3.5 million funding round in October 2024 for Plasma, a stablecoin-focused EVM-compatible sidechain aiming to eliminate USDT transaction fees.
Stable recently announced partnerships with institutional and payments-focused firms such as Anchorage Digital, PayPal, and Standard Chartered’s tokenization platform Libeara.
“It is paramount for our team that this not just be an institutionally-focused moment and that the DeFi community at large has the opportunity to join in and work alongside us to realize this new future,” Mehler added.
STABLE tokenomics
Last week, Stable unveiled the tokenomics for its STABLE token. The asset is designed for governance and network security rather than payments, with all transactions on the chain continuing to settle in USDT. STABLE will support the network’s delegated proof-of-stake consensus mechanism, StableBFT, allowing holders to delegate to validators and vote on protocol decisions.
The token has a fixed supply of 100 billion STABLE. Stable plans to allocate 10% for a genesis distribution, 40% for developer grants and partnerships, and 25% each for the team and early investors, with a one-year cliff and four-year vesting schedule. There are no inflationary emissions planned, and staking rewards will come from a share of USDT-denominated network fees collected in a protocol vault, the team said at the time.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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