Stable, a Layer-1 blockchain designed to handle large-scale stablecoin transactions, is set to open the second phase of its pre-deposit campaign next week. The program allows users to deposit Tether (USDT) and other stablecoins in exchange for future rewards tied to the project’s upcoming native token and its ecosystem incentives.
Backed by Bitfinex and USDT0, Stable is working on a high-performance blockchain network built specifically for stablecoin payments and decentralized applications. The team says the pre-deposit campaign is a way to bring early supporters on board and gauge real user participation before the network officially goes live.
Phase 2 details
Announcing the update on X, Stable wrote, “Excited to announce that Phase 2 of the ecosystem-led Pre-Deposit Campaign is launching next week.”
The post also shared a brief outline of what users can expect this time around:
- A 24-hour countdown before deposits open
- Per-wallet deposit limits
- Individual wallet requirements for participation
These new measures appear to be an attempt to make the process fairer after the first round of deposits drew sharp criticism from the community.
Phase 1 filled in 22 minutes
The first phase of the pre-deposit campaign, which went live last week, saw an incredible rush from the crypto crowd. Within just 22 minutes of the announcement, the $825 million deposit cap was already full—a sign that interest in Stable’s project was sky-high from the start.
But the excitement didn’t last long.
Soon after the launch, things quickly escalated on X. Users began calling out Stable for front-running, claiming that a few big wallets had managed to deposit funds even before the official announcement went out.
Not long after, some community members dug into the on-chain data — and what they found only fueled the debate. A handful of big wallets had moved large chunks of USDT into the deposit contract just minutes before Stable’s official post went live. The timing didn’t sit right with many, who felt it suggested a few insiders might’ve had a head start before everyone else even knew the campaign had begun.
Community frustration
The issue didn’t sit well with retail users, many of whom voiced anger over being locked out of the campaign within minutes. Several participants said the system was tilted in favor of big investors and insiders, leaving little room for regular users to take part in what was meant to be an open community event.
Stable’s latest post about Phase 2 was also met with skepticism. Replies under the announcement included concerns that the same issue could repeat if insiders gain early access again. While the new per-wallet deposit limits may help reduce the dominance of large holders, critics say it won’t fully solve the problem unless the project ensures all wallets can participate simultaneously when the campaign begins.
So far, Stable has not directly addressed the front-running allegations or provided an explanation for how it plans to guarantee a fair launch in the next phase. The team said more details will be revealed on X in the coming days, including specifics on timing and technical conditions.
What comes next
The pre-deposit campaign is a key part of Stable’s plan to build momentum before its mainnet launch. Those who deposit USDT now are expected to earn rewards linked to the project’s ecosystem once the network and its token officially roll out.
As Phase 2 draws closer, much of the attention will be on how fairly and transparently Stable handles things this time. After what happened in the first phase, many in the community now see the next round as a test of whether Stable’s team has genuinely taken the criticism on board and made real changes.
If the project can deliver a smooth and transparent launch this time, it could help rebuild the trust that was lost and restore confidence in what’s still seen as one of the most closely watched blockchain launches this year.
Also Read: Western Union to Launch USDPT Stablecoin on Solana in 2026
