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Stable whitepaper
Stable whitepaper

Stable: A Digital Asset with Stable Value

The Stable whitepaper was written and released by the Stable core team in Q4 2024, aiming to address the pain points of high asset volatility and lack of reliable value anchoring in decentralized ecosystems.


The theme of the Stable whitepaper is “Stable: A Decentralized Stable Value Protocol.” Its uniqueness lies in proposing an innovative multi-collateral dynamic adjustment mechanism, combining algorithms and community governance to achieve asset value stability. The significance of Stable is to provide a reliable medium of value storage and exchange for the decentralized finance (DeFi) sector, lowering user participation barriers and enhancing market confidence.


The original intention of Stable is to build an open, transparent, and censorship-resistant stable value infrastructure. The core viewpoint presented in the Stable whitepaper is: by introducing a multi-dimensional risk management model and elastic supply mechanism, it seeks to balance decentralization, capital efficiency, and value stability, thereby providing a solid foundation for the Web3 economy.

Interested researchers can access the original Stable whitepaper. Stable whitepaper link: https://www.stable.xyz/whitepaper.pdf

Stable whitepaper summary

Author: Noam Ben-David
Last updated: 2025-11-30 00:07
The following is a summary of the Stable whitepaper, expressed in simple terms to help you quickly understand the Stable whitepaper and gain a clearer understanding of Stable.

What is Stable

Friends, imagine the bank transfers we use in daily life—don’t we all wish they were fast, cheap, and with stable exchange rates, so we don’t have to worry about sudden devaluation? In the blockchain world, there are similar needs. Stable (project abbreviation: STABLE) is a blockchain project specifically designed to meet these needs. You can think of it as a “highway,” but this highway isn’t open to all types of vehicles (i.e., all cryptocurrencies); it’s custom-built for a special kind of vehicle: stablecoins.

Stablecoin: Simply put, it’s a cryptocurrency whose value is pegged to a stable asset (such as the US dollar), so its price fluctuates very little—like cash in the digital world.

This Stable highway (that is, a Layer 1 blockchain—think of it as the foundational infrastructure of the blockchain world, like the basic protocols of the internet) has several main features:

  • Focus on stablecoin transactions: It is especially good at handling stablecoin transactions like USDT, making these transactions highly efficient.
  • Enterprise-grade payments: It’s not just for individuals; it also serves enterprises, helping them with large-scale payments and settlements.
  • USDT core infrastructure: USDT is currently one of the largest and most widely used stablecoins on the market, and Stable is building its ecosystem around USDT.

So, Stable’s target users are individuals and enterprises that need to make large, fast, low-cost, and value-stable digital payments, especially in scenarios like cross-border payments and remittances.

Project Vision and Value Proposition

The vision of the Stable project is to build a “frictionless expressway for digital finance.” The core problem it aims to solve is: in the traditional blockchain world, many cryptocurrencies are highly volatile, have slow transaction speeds, and sometimes high fees, making them hard to use for everyday payments and enterprise settlements.

Stable aims to deliver value through the following:

  • Seamless financial transactions: Making the transfer of digital assets as simple and fast as sending a text message.
  • Global digital payments and remittances: Especially in regions like Africa, Stable is partnering with local payment companies to reduce the cost and time of cross-border remittances, making capital flows more efficient.
  • Improved capital efficiency: Through fast settlement, funds are not locked up in transactions for long, increasing capital utilization.
  • User-friendly: A major highlight is that on the Stable network, you don’t need to hold or use volatile cryptocurrencies to pay “tolls” (i.e., Gas fees, the fees required for blockchain transactions); instead, you pay directly with USDT. This greatly lowers the barrier and risk for ordinary users.

Compared to similar projects, Stable’s differentiator is its strong focus on stablecoins, especially USDT, and using it as the network’s native Gas token, giving it unique advantages and efficiency in handling stablecoin payments.

Technical Features

Technically, the Stable project is like equipping that “stablecoin highway” with the most advanced engine and traffic management system.

Technical Architecture

Stable is a Layer 1 blockchain, meaning it has its own independent network, not built on top of another blockchain. Its design goal is high performance, supporting extremely high transaction throughput and low latency, ensuring transactions can be confirmed in “sub-second” time—that is, confirmation in less than one second.

Consensus Mechanism

To ensure the network’s security and stable operation, Stable uses a consensus mechanism called StableBFT, which is a Delegated Proof-of-Stake (DPoS) system.

  • Consensus mechanism: Think of this as the rules by which all participants in the blockchain network agree to confirm transactions and blocks.
  • Delegated Proof-of-Stake (DPoS): This is a voting system where token holders can vote to elect representatives (called “validators”), who are responsible for packaging transactions and maintaining network security. This improves transaction speed and efficiency.

Additionally, transaction fees on the Stable network are not paid in the STABLE token, but directly in USDT. This is very convenient for users, as they don’t need to buy and hold volatile tokens just to pay transaction fees.

Tokenomics

Every blockchain project usually has its own “fuel” or “stake”—that’s the token. The Stable project also has its own token, called STABLE.

Basic Token Information

  • Token symbol: STABLE
  • Issuing chain: ERC-20 governance token on the Stable mainnet.
  • Total supply: The total supply of STABLE tokens is fixed at 100 billion.
  • Inflation/Burn: No explicit inflation or burn mechanism is mentioned in the materials.

Token Utility

The main function of the STABLE token is not to pay transaction fees (since fees are paid in USDT), but to serve as the network’s “governance credential” and “incentive tool.”

  • Governance: STABLE token holders can participate in network governance, like shareholders voting on a company’s direction. They can vote to elect validators, on protocol upgrades, key parameter adjustments, and community proposals.
  • Validator incentives: STABLE tokens are also used to incentivize validators who maintain network operations; they may receive a portion of STABLE tokens from Gas fee distribution as rewards.

Token Distribution and Unlocking Information

The total supply of STABLE tokens is distributed as follows:

  • Initial activities: 10% for supporting early liquidity, community activation, ecosystem activities, and strategic distribution.
  • Ecosystem and community development: 40% for developer grants, liquidity programs, partnerships, community initiatives, and ecosystem building.
  • Team: 25% allocated to the founding team, engineers, researchers, and contributors.
  • Investors and advisors: 25% allocated to strategic investors and advisors supporting network development, infrastructure, and promotion.

(Note: Regarding the total token supply, some sources mention 10 billion, but more recent sources point to 100 billion; here, the majority and latest information is used. The specific unlocking schedule is not detailed in the available materials.)

Team, Governance, and Funding

The success of a project depends on the people and mechanisms behind it.

Core Members and Team Features

The Stable project is supported by Tether (issuer of USDT) and Bitfinex (a well-known cryptocurrency exchange). This means it has strong industry backing and resources. Brian Mehler is mentioned as the CEO of Stable.

Governance Mechanism

Stable adopts a decentralized governance model, where STABLE token holders jointly decide the project’s direction. Token holders can vote on protocol upgrades, community proposals, and other key decisions.

Treasury and Funding Runway

Although the specific treasury size and funding runway are not detailed in public materials, the token distribution shows that 40% is for ecosystem and community development, and 25% for investors and advisors, indicating clear planning for funding and resources to support the network’s long-term development and expansion.

Roadmap

The project’s roadmap is like a timeline, showing what it has done and what it plans to do.

Key Historical Milestones

  • From October 2025: Stable launched two rounds of pre-deposit activities, allowing users to deposit stablecoins to earn rewards in future native network tokens and ecosystem incentives.
  • December 8, 2025: Stable mainnet officially launched.
  • December 10, 2025: Stable announced a partnership with African fintech company Chipper Cash, aiming to integrate StableChain infrastructure into the Chipper Cash platform to enhance cross-border digital asset payments in Africa.
  • December 16, 2025: Stable partnered with MetaComp, aiming to redefine cross-border payments through stablecoins.

Key Future Plans

Future plans mainly focus on expanding the ecosystem, increasing partnerships, and promoting the use of stablecoins in real-world payment scenarios, especially in cross-border payments and remittances.

Common Risk Reminders

All investments carry risks, and blockchain projects are no exception. When considering any project, it’s crucial to understand potential risks. Here are some common risks Stable may face:

  • Technical and Security Risks:
    • Smart contract vulnerabilities: Although the project is committed to security, smart contracts (self-executing protocols) may have unknown vulnerabilities, which, if exploited, could lead to loss of funds.
    • Network attacks: As a Layer 1 blockchain, Stable may face various network attacks, such as 51% attacks (though DPoS makes this harder) or DDoS attacks, which could affect network stability and security.
  • Economic Risks:
    • Token price volatility: Although the STABLE token itself is not a stablecoin, its price may fluctuate sharply due to market sentiment, project progress, competition, and other factors.
    • Liquidity risk: If the STABLE token lacks market liquidity, users may have difficulty buying or selling at ideal prices when needed.
    • Competition risk: The stablecoin payment sector is highly competitive; Stable must continuously innovate and expand to remain competitive.
  • Compliance and Operational Risks:
    • Regulatory uncertainty: Global regulations on cryptocurrencies and stablecoins are still evolving, and future policy changes may impact Stable’s operations and development.
    • Centralization risk: Although DPoS aims for decentralization, if there are too few validators or power is too concentrated, some degree of centralization risk may still exist.
    • Community controversy: Early pre-deposit activities sparked community concerns about “insider front-running” and low retail participation, which could affect community trust and project reputation.

Please remember, the above information is for reference only and does not constitute any investment advice. Be sure to conduct your own independent research and risk assessment before making any investment decisions.

Verification Checklist

For any blockchain project, here are some key pieces of information you can verify yourself to help you better understand the project:

  • Block explorer contract address: Find the STABLE token’s contract address on the Stable mainnet; through a block explorer (such as Etherscan for ERC-20 tokens, if applicable, or Stable's own explorer once available), you can view token issuance, circulation, and transaction records.
  • GitHub activity: Check the project’s GitHub repository to see code update frequency, developer community activity, and whether there are open-source audit reports.
  • Official website and whitepaper: Carefully read the project’s official whitepaper and website for the most authoritative and detailed information.
  • Community forums and social media: Follow the project’s updates on Twitter, Telegram, Discord, and other social media and community forums to learn about community discussions and project progress.
  • Audit reports: Check if third-party security firms have audited the project’s smart contracts and code; audit reports can help assess project security.

Project Summary

In summary, Stable is a Layer 1 blockchain focused on stablecoin payments, supported by well-known institutions like Tether and Bitfinex, aiming to provide an efficient, low-cost, and user-friendly digital payment infrastructure. Its core advantage is using USDT as the native Gas token, greatly simplifying the user experience, and adopting a DPoS consensus mechanism to ensure network performance and security. The STABLE token, as a governance token, gives holders the right to participate in network decisions. The project has recently launched its mainnet and is actively expanding partnerships with companies like MetaComp and Chipper Cash, striving to promote the adoption of stablecoins in real-world scenarios such as cross-border payments.

However, any emerging blockchain project comes with technical, economic, and compliance risks. Investors considering participation should fully understand its tokenomics, team background, technical implementation, and potential market and regulatory risks.

Please note, the above is an objective introduction and analysis of the Stable project and does not constitute any investment advice. The cryptocurrency market is highly volatile and risky; please conduct thorough due diligence and make decisions based on your own risk tolerance. For more details, please research independently.

Disclaimer: The above interpretations are the author's personal opinions. Please verify the accuracy of all information independently. These interpretations do not represent the platform's views and are not intended as investment advice. For more details about the project, please refer to its whitepaper.

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