Stable mainnet launch ignites the crypto community: Airdrop feast begins, Gate generously gives away 30 million tokens!

On the evening of December 8, the highly anticipated stablecoin-native Layer 1 blockchain, Stable, officially launched its mainnet as scheduled, synchronizing with its token generation event.

This project, backed by Bitfinex and Tether, has attracted attention since its announcement for allowing users to pay all network fees with USDT.

Currently, Gate has confirmed the listing of STABLE spot trading and, together with the project team, launched an ecosystem week event with a total scale of 30,000,000 STABLE, covering Launchpool, Candydrop, trading competitions, and various participation forms.

01 Project Positioning

At 21:00 Beijing time on December 8, the Stable mainnet officially launched. As a Layer 1 blockchain focused on stablecoin infrastructure, its core design is to use USDT as the native gas fee.

This design breaks the traditional economic model of public blockchains. On blockchains like Ethereum and Solana, users must hold native tokens like ETH or SOL to pay transaction fees.

Stable allows users to pay all fees directly with USDT, aiming to achieve a truly frictionless experience.

The project claims to achieve sub-second finality and peer-to-peer transfers with no gas fees. Sub-second finality means transaction confirmation times can be between 0.5 to 1 second, much faster than Ethereum’s 12 seconds.

No gas fee means direct transfers between users require no fees.

02 Technical Design

Stable’s technical architecture aims to solve key pain points in stablecoin payments. It adopts an economic model referred to as a stablecoin payment revolution.

Unlike most public blockchains, transfers, payments, and transactions on the Stable network are all settled in USDT. The project’s native token, STABLE, is not used as a gas fee but instead coordinates incentives among developers and ecosystem participants.

The main functions of the STABLE token are governance and staking. Holders can stake their tokens to become validators, participate in maintaining network security, and influence protocol upgrades through DAO voting.

Additionally, STABLE can be used for ecosystem incentives such as liquidity mining or cross-chain bridge rewards.

The project team claims that this separation design can attract institutional capital, as USDT’s stability is much higher than volatile governance tokens.

03 Market Activities

Before the mainnet launch, Gate announced that Stable spot trading would launch at 21:00 on December 8, 2025. At the same time, Gate and Stable jointly launched a large-scale “STABLE Ecosystem Week” event.

According to the official announcement, the ecosystem week event includes various participation methods, with a total reward pool of up to 30,000,000 STABLE.

The event includes Gate Launchpool, where users can share 4,000,000 STABLE through staking; Candydrop issue 120, where users can complete trading tasks to share a 4,000,000 STABLE super airdrop.

Gate Wallet BountyDrop has newly launched a Stable airdrop project, sharing 8,000,000 STABLE; Gate Earn has launched Stable activities, allowing users to participate in financial management to share 8,000,000 STABLE rewards.

There are also upcoming Stable contract trading benefits, with a total prize pool of 6,000,000 STABLE.

04 Controversy and Attention

Before the mainnet launch, Stable had already sparked controversy due to its pre-deposit activities. Similar to Plasma, Stable also opened two rounds of pre-deposits before the mainnet launch.

The first round of pre-deposits started at the end of October, with a cap of $825 million, which was filled within minutes after the announcement was released.

The community questioned some participants’ “insider trading” behavior, as the top-ranked wallet deposited hundreds of millions of USDT 23 minutes before deposits officially opened.

The project team did not respond directly, instead launching a second round of pre-deposits on November 6, with a cap of $500 million.

However, Stable underestimated the market’s enthusiasm for deposits. When the second round opened, massive traffic caused its website to slow down, and KYC system review times ranged from a few days to a week.

In the end, the total deposit amount for the second round was about $1.8 billion, with around 26,000 participating wallets. The total amount for both pre-deposit rounds reached $1.325 billion.

05 Market Expectations

The market has complex expectations for Stable’s future. At the end of July this year, Stable announced the completion of a $28 million seed round led by Bitfinex and Hack VC, with a market valuation of about $300 million.

By comparison, similar project Plasma currently has a market cap of $3.3 billion and a fully diluted market cap of $16.75 billion.

Polymarket data shows the market is betting there’s an 85% chance Stable’s fully diluted valuation will exceed $20 billion on launch day. Taking a conservative $20 billion valuation, the corresponding price for STABLE would be $0.02.

The CEX perpetual contract market has given a more optimistic price. As of December 9, according to Gate platform data, the latest price of STABLE is $0.0155.

Some optimistic observers believe that the stablecoin narrative, Bitfinex’s endorsement, and Plasma’s initial surge could mean Stable will enjoy some hype and price increase at launch.

But pessimistic voices are stronger: with gas fees not paid in STABLE, limited token utility, especially as the market has entered an adjustment cycle and liquidity is tightening, its price may drop quickly.