Stable: Mainnet and Token Generation Event

Key Insights

• On Dec. 8, 2025, Stable launched its mainnet following a testnet phase. The network is designed to facilitate seamless USDT transfers for both retail users and enterprises.
• Stable uses a single-token model for network usage. USDT serves as the network’s gas token, diverging from the conventional model of using a separate Layer-1 token to settle gas payments.
• Stable built a technical architecture optimized for the unique nature of stablecoin transfers. The core stack includes StableBFT for consensus, Stable EVM for execution, StableDB for storage, and a custom RPC for interfacing with the network.
• Stable announced the release of a native governance and security token. STABLE has a total supply of 100 billion, with allocations to core contributors, investors, community members, and ecosystem partners.

Primer

Stable (STABLE) is a high-performance Layer-1 (L1) blockchain purpose-built to facilitate low-cost USDT transfers with fast settlement. While most general-purpose blockchains offer stablecoins at the application layer, Stable optimizes for this vertical in the design of its core architecture. The protocol aims to capture USDT users of all types, from everyday consumers to global institutions.

The network’s mainnet went live on Dec. 8, 2025, following a public testnet period that was announced on Nov. 4, 2025. Alongside the mainnet launch, the network’s native token, STABLE, was also introduced. The token will be (i) used for governance decisions and (ii) staked/delegated to active validator nodes, which secure the network and validate transactions.

Stable’s leadership team consists of Brian Mehler (CEO), Sam Kazemian (CTO), and Thibault Reichelt (COO). In July, the project team announced a $28 million Seed round led by Bitfinex, Hack VC, and USDT0. The fundraising round also included notable angel investors and advisors, including Paolo Ardoino, Bryan Johnson, Nathan McCauley, and Gabriel Abed.

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Introduction

As the stablecoin vertical continues to grow, the demand for specialized infrastructure to support the sector is increasing. While innovation at the blockchain level has enabled high-performance networks that can process a large number of transactions per second (TPS), bottlenecks still inhibit support for at-scale onchain payment systems. Gas fees fluctuate significantly during periods of high demand, undermining the predictability required for microtransactions and institutional adoption. Settlement delays resulting from the need for consensus across nodes lead to slower transaction finality compared to traditional payment systems, which achieve authorization nearly instantly. While decentralized networks offer inherent advantages over traditional systems, these challenges need to be addressed to enable the transition of payment technology onchain.

Stable aims to address these shortcomings through its StableChain, an L1 designed to support low-cost and high-throughput USDT transactions. Stable uses USDT for gas payments on the network, aiming to reduce the complexity of using a separate, volatile token, as found on other networks. The network is EVM-compatible, enabling developers to migrate existing smart contracts to StableChain and use familiar tools such as MetaMask, Hardhat, and Etherscan.

Stable is built to support both retail users and enterprises. For retail users, features such as account abstraction and the use of a single-token model aim to provide a streamlined user experience for global payments and remittances, without the complexity often associated with blockchain interactions. For enterprises, Stable plans to dedicate a portion of the network’s blockspace to whitelisted institutions, allowing for consistent transaction settlement during periods of network congestion. There are also plans to utilize privacy capabilities for enterprise users, enabling confidential transfers while maintaining regulatory compliance through the immutable and auditable nature of public blockchains.

Technical Architecture

Consensus Mechanism

Stable leverages a custom delegated Proof-of-Stake (dPOS) model called StableBFT. This consensus mechanism is based on CometBFT, the software used to secure networks in the Cosmos ecosystem. StableBFT is built for speed, supporting the sub-second finality required to compete with traditional payment systems. Notably, Stable plans to migrate StableBFT to Autobahn, a novel mechanism that aims to improve both latency and throughput by separating the data dissemination layer, responsible for broadcasting client transactions, from the consensus layer.

Execution

Stable EVM, the network’s EVM-compatible execution layer, is designed to support USDT-specific transfers while maintaining compatibility with the existing tooling and infrastructure popularized by Ethereum. The execution environment introduces three precompiles from the Stable software developer kit (StableSDK) to bring key network functionality to EVM smart contracts:

• Bank Module - Provides basic token management capabilities (e.g., mint, burn, approval, and transfer functions).
• Distribution Module - Provides additional checks to ensure proper delegator and/or deposit functionality.
• Staking Module - Provides staking, delegation, and redelegation functionality.

Storage

For storing state data, Stable will utilize a dual-database model, known as StableDB, which aims to minimize latency by separating real-time state management from historical archiving:

• MemDB: The memory database stores recent and active blockchain state, allowing Stable to efficiently process live transactions.
• VersionDB: The historical database stores historical states, ensuring access to a verifiable record of previous network activity.

The capability of the dual-database model is amplified by memory-mapped file access (mmap). While most networks use log-structured merge trees (LSM-trees) for storage, Stable leverages the enhanced performance of the mmap architecture for frequent state lookups, a key feature for Stable’s goal of creating a high-performance payments system. Notably, memory-mapped databases have already been implemented by other high-performance networks, namely Sei and Cronos.

Network Layer

Stable’s custom remote procedure call (RPC) provides a standard JSON-RPC interface compatible with common Ethereum development tools such as Hardhat and ethers.js. The system uses dedicated RPC nodes rather than a single monolithic node, which helps reduce resource contention and improve consistency in request handling. Stable’s architecture also incorporates indexing and real-time state processing, enabling faster access to chain data and logs compared to basic node setups. Together, these design choices allow developers to query network state, retrieve events, and submit transactions with predictable performance.

The STABLE Token

Tokenomics

Launched alongside the mainnet release, the STABLE token is the network’s native asset, used for security and governance functions on the network. The total supply is 100 billion, allocated to bootstrap early network usage while maintaining long-term ecosystem alignment. The distribution is designed to reward core contributors, support community growth, and facilitate incentive campaigns for ecosystem partners and early users.

• Ecosystem and Community: 40 billion STABLE are allocated to the network’s ecosystem fund, which supports developers, user adoption initiatives, and infrastructure providers. 8 billion tokens, or 8% of the total supply, were unlocked during the mainnet launch. The remaining 32 billion STABLE are subject to a 3-year linear vesting period.
• Team: 25 billion STABLE are allocated to the founding team members, engineers, researchers, and other contributors. This allocation is subject to a one-year cliff followed by a 36-month linear vesting period.
• Investors: 25 billion STABLE are allocated to participants in fundraising rounds and strategic advisors. This allocation is subject to a one-year cliff followed by a 36-month linear vesting period.
• Genesis Distribution: 10 billion STABLE are allocated to initiatives surrounding the network’s launch, including airdrop campaigns, liquidity provision, and campaigns with exchanges and partners. This allocation is fully circulating at launch.

Token Utility

The STABLE token underpins the network’s security and governance layers:

• Security: To take part in the consensus process, validators will be required to lock STABLE as collateral, while tokenholders will be able to delegate their tokens to an existing validating node. If a validating node breaks consensus rules or is not reliably online, it is at risk of having its collateral slashed, discouraging misbehavior and bolstering alignment between the network and its participants.
• Governance: Both stakers and delegators will be able to participate in network governance, which includes decisions regarding protocol parameters and upgrades, as well as allocation of the community treasury.

Notably, validators will be able to choose to share the USDT gas fees accumulated in the protocol’s fee vault with delegators. This model aims to create demand for STABLE, as distributing rewards denominated in a stable asset like USDT provides an incentive for participants to lock their STABLE tokens.

Ecosystem Partners

In alignment with the goal of supporting a diverse ecosystem, Stable launched its mainnet with a range of projects, including DeFi protocols and traditional payment companies. Key integrations include:

• Alchemy - A developer platform, announced as the primary blockchain infrastructure provider for Stable.
• LayerZero - A cross-chain interoperability protocol, serving as the official interoperability partner for Stable.
• Paypal - A payments platform that is also a strategic investor in Stable, which aims to integrate PYUSD into the network’s ecosystem.
• Anchorage - A crypto bank built for institutions, which was selected as a preferred custodian for Stable’s mainnet launch.
• Chipper Cash - A payments platform, strategically partnering with Stable to power stablecoin transactions across Africa.
• MetaComp - A forex-exchange (FX) infrastructure provider, strategically partnering with Stable to power cross-border payments across Asia, Africa, and the Middle East.

Closing Summary

Stable’s launch marks the introduction of a purpose-built Layer-1 (L1) designed to support high-throughput, low-cost USDT transfers for both retail users and enterprises. Its architecture reflects this narrow but high-value focus: StableBFT provides fast finality through a delegated Proof-of-Stake (dPoS) model, Stable EVM extends familiar Ethereum tooling while integrating stablecoin-specific modules, and StableDB’s dual-database design separates live and/or recent state from historical data to reduce latency. The custom RPC stack further enhances performance by utilizing dedicated nodes and integrated indexing to optimize data access and transaction processing. Together, these components create an environment optimized for payments rather than generalized computation, a design choice that differentiates Stable from most existing L1s.

The mainnet launch also introduced the STABLE token, the network’s native asset that will be used for governance and network security. Its distribution supports long-term ecosystem alignment through allocations to core contributors, investors, and community initiatives, including campaigns surrounding the mainnet launch. Tokenholders will be able to delegate to validators participating in consensus, and both validators and delegators will be able to engage in protocol governance. Importantly, validators may share accumulated USDT gas fees with delegators, providing an additional source of valuable rewards that reinforce participation incentives. With established ecosystem partners, such as Alchemy, LayerZero, PayPal, Anchorage, Chipper Cash, and MetaComp on board at launch, Stable enters the market with early infrastructure and institutional support, aiming to enable a scalable, payment-focused network.