Stable Reveals New Layer 1, USDT-Native Blockchain Initiative
As stablecoins become increasingly relevant, more structures are using them as a base to build their projects. Stable, a team of programmers and protocol engineers backed by Bitfinex, has revealed a new project that uses USDT as its native token.
The project, which came out of stealth on Thursday, disclosed that it is developing the first layer 1 blockchain that takes USDT as payment for transaction fees, simplifying the usage for users compared to other similar projects.
In addition, the Stable team specified that peer-to-peer (P2P) transactions between individuals will be free, with normal users not paying for moving funds. Stable believes that the current blockchain initiatives fail to provide stablecoins with an ecosystem to really foster their adoption, presenting several pain points that hurt adoption.
Stable stated:
USDT alone settles over $100B daily. However, the current infrastructure is volatile, costly, and fragmented. Stable is here to change that.
There are several advantages to Stable’s focus on stablecoins, including seamless fiat onboarding, smart contracts operating in dollars, and a simple approach to wallets that can function gaslessly.
Stable states that its product caters to institutions, which can operate in an ecosystem where digital dollars replace complexity, and users can’t notice they are using decentralized rails for their operations.
“That’s the future we’re building toward, where users don’t even realize they’re on a blockchain. At launch, some on-chain UX remains, but our roadmap is designed to make it disappear,” it stressed.
Tether CEO Paolo Ardoino congratulated Stable for its innovative proposal. “Stablecoin use case for payments, remittances, and trading is immense. We’re still early,” Ardoino declared.
While the team did not offer a launch date, Stable stated that it is currently running an early internal testnet and is onboarding early builders.
