Stable (STABLE) is the governance token of StableChain (Stable's own EVM-compatible Layer-1 blockchain; USDT/USDT0 is used as the network's gas asset, not STABLE itself).
StableChain's mainnet launched on 2025-12-08 alongside the Stable Foundation, a Bitfinex- and Tether-linked venture that settles transaction fees in USDT (via a gas-wrapper called USDT0/gUSDT) instead of a native gas token. STABLE holders participate in network governance and validator selection.
Stable differentiates itself by settling network fees in USDT/USDT0 rather than a volatile native gas token, positioning StableChain as a stablecoin-native settlement layer backed by Bitfinex, Tether, and PayPal Ventures.
The network integrated PayPal's PYUSD stablecoin after launch, and its in-ecosystem StableSwap product reportedly processed around 167,000 transactions near its launch. StableChain also went live with over $1.1 billion in pre-deposited funds from more than 10,000 wallets, indicating early liquidity commitment ahead of mainnet.
STABLE is the native governance token of StableChain, Stable's own EVM-compatible Layer-1 blockchain.
Unlike the network's gas asset, USDT/USDT0, STABLE is not used to pay transaction fees on StableChain; it instead confers governance rights, including eligibility for validator delegation.
STABLE has a fixed maximum supply of 100,000,000,000 tokens, with circulating supply of approximately 25.9 billion as of 2026-08-31.
No inflationary token emissions are planned; validator rewards come from network fee revenue rather than new issuance, though scheduled vesting continues to increase circulating supply over time.
Stable raised a $28 million seed round co-led by Bitfinex and Hack VC.
Other participants included Franklin Templeton, Castle Island Ventures, eGirl Capital, Bybit Mirana, Susquehanna International Group, Nascent, Blue Pool Capital, BTSE, and KuCoin Ventures, with PayPal Ventures joining in September 2025. StableChain's mainnet launched on 2025-12-08, well after the seed round. STABLE was distributed via airdrop through Merkl and Stargate Finance to pre-deposit vault participants, plus a first-come allocation of 2,000 STABLE for qualifying Binance Alpha users.
STABLE is native to StableChain, Stable's own EVM-compatible Layer-1 blockchain, which launched mainnet on 2025-12-08.
The network runs a consensus mechanism called StableBFT, described as a delegated-proof-of-stake-style system in which STABLE holders delegate to, or act as, validators. USDT/USDT0 is used as the chain's gas asset for transaction fees rather than STABLE.
Joshua Harding is the founder and CEO of Stable.
Named angel investors and advisors include Paolo Ardoino (Tether CEO), Bryan Johnson (Braintree), Nathan McCauley (Anchorage Digital co-founder), and Gabriel Abed. Key institutional backers include Bitfinex, Hack VC, Franklin Templeton, Castle Island Ventures, Susquehanna International Group, Nascent, Blue Pool Capital, and PayPal Ventures.
The Stable Foundation, established alongside StableChain's mainnet launch on 2025-12-08, oversees network development, ecosystem grants, community programs, and governance participation.
The underlying venture, Stable (operating as stable.xyz), is a Bitfinex-backed Layer-1 blockchain project closely associated with Tether, whose CEO Paolo Ardoino is a named investor. Standard Chartered's Libeara tokenization platform and Anchorage Digital are named institutional partners.
STABLE holders govern the network by voting on protocol upgrades and by electing or delegating to validators under the StableBFT consensus mechanism.
Validators and their delegators receive a share of network revenue, paid in USDT-based transaction fees rather than newly issued STABLE, linking governance participation directly to protocol fee revenue rather than to token inflation.
Since its December 2025 mainnet launch, Stable has added PayPal's PYUSD stablecoin as an integrated asset on StableChain.
The ecosystem's StableSwap product also launched as an in-network decentralized exchange, reportedly processing around 167,000 transactions near launch.
STABLE shows elevated sensitivity to broader Bitcoin market drawdowns, historically falling more sharply than Bitcoin during periods of Bitcoin weakness. Its circulating supply also continues to grow as scheduled token vesting unlocks proceed.
A Hyperliquid perpetual futures market for STABLE shows modest liquidity, with roughly $157,500 in 24-hour trading volume as of 2026-08-31. The token trades approximately 96% below its all-time high of $0.667061.