Stable to Launch Phase 2 of Pre-Deposit Campaign Amid Community Scrutiny

Stable, a Layer 1 blockchain designed to power stablecoin transactions, announced it will launch Phase 2 of its pre-deposit campaign next week, following a highly subscribed first round that drew both excitement and controversy.

The campaign allows participants to deposit stablecoins—primarily USDT—in exchange for future rewards tied to Stable’s upcoming native token and broader ecosystem incentives.

In a post on X (formerly Twitter), the company confirmed that Phase 2 will also feature a fixed total deposit cap, similar to the first phase. During Phase 1, deposits hit their $825 million cap within just 22 minutes, signaling intense interest in the project’s upcoming network launch.

However, not all community reactions were positive. Several users on X raised concerns about possible front-running during Phase 1, citing blockchain data that showed a small cluster of large wallets made substantial deposits moments before the campaign was publicly announced. Critics argued that this left little opportunity for smaller, retail participants to join.

In response to the criticism, Stable said Phase 2 will introduce per-wallet deposit limits and individual wallet requirements to help ensure broader access and reduce the concentration of deposits from a few large holders. Despite these updates, the company has not directly addressed the front-running allegations or clarified how it plans to enforce fairness during the next round.

Stable added that further details on Phase 2 will be shared soon via X, ahead of the campaign’s official launch.

Backed by Bitfinex and USDT0, Stable is developing a high-throughput blockchain optimized for USDT transactions and decentralized applications (dApps). The project aims to strengthen the infrastructure behind stablecoin payments, positioning itself as a scalable solution in an increasingly competitive Layer 1 ecosystem.

As the second phase approaches, community members will be watching closely to see whether Stable can balance the growing demand for participation with transparency and fairness in its rollout.