With the announcement of phase 2 launching the next week, some mechanics of phase 2 were also announced.
Stable, a new Layer-1 blockchain that is backed by Tether and Bitfinex, is preparing to open Phase 2 of its Pre-Deposit Campaign next week as announced today, October 29, 2025, on social media platform X (formerly known as Twitter).
On the official X page of the blockchain, it was also announced that phase 1 closed after reaching its $825 million deposit limit. Through the campaign, the project wants to collect enough funds to get the network running smoothly and give people a chance to join early.
The blockchain is being built to solve problems that arise while using stablecoins. The problems include high transaction costs and slow speeds on the other blockchains.
By making USDT the main currency used for the trading activity on its network, Stable wants to offer faster and cheaper transactions for everyday users and large businesses.
The network is focusing on direct USDT transfers between users with very low fees, aiming to become the main blockchain for stablecoin-related financial tools such as payments, business treasury use, DeFi platforms, and even digital banking options.
The phase 1 of the project attracted great number depositors, but most of the funds came from a small group of large investors, showing strong whale involvement.
A few big names that are supporting the ecosystem include ConcreteXYZ, Frax Finance, Morpho Labs, Pendle Finance, USDT0, and LayerZero. As stated above, the goal of this campaign is to create liquidity and support future ecosystem growth.
As per the announcement, Phase 2 of the Pre-Deposit Campaign will have the following features:
The steps have been developed in a way that they make sure that there is a fair participation and it fix problems that were observed in Phase 1. The Stable team asks users to follow official updates for details and how to join.
Bitfinex and Tether are key supporters of Stable. Bitfinex, a well-known crypto exchange, helped lead the $28 million seed funding round and it also contributes towards operational knowledge.
Backing from Tether allows USDT to be used as the main transaction token on the blockchain and this keeps Stable closely tied to the leading stablecoin network. Tether’s involvement indicates their support towards this blockchain that is focused on real stablecoin use. Paolo Ardoino, the CTO of Bitfinex and CEO of Tether, is acting as an advisor for this project.
Stable’s Pre-Deposit Campaign is an important step in building a blockchain that is dependable and scalable. As more liquidity becomes available and activity grows, the network plans to introduce features such as “enterprise lanes” so that there are faster transactions by institutions, along with support for on-chain lending, settlements, and international payments.
By fixing these issues, Stable wants to make sure that the stablecoins are easier to use in everyday lives, and allow new financial services to grow that are powered by stablecoins. This is an great approach because as we saw, Stablecoin supply had surpassed $300 billion during this month. If these problems are fixed, it could open great opportunities and innovation to come in.
