- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Stablecoin Public Blockchain Stable Amends Pre-Minting Rules, Changing Hard Cap to Allow for Overfunding and Introducing a 24-Hour Delay
BlockBeats News, November 7th, Hourglass released a post explaining the progress of the Stable Pre-Deposit Activity Phase 2, making the following adjustments:
Deposit: Users can deposit through the Hourglass frontend or directly on-chain (frontend usage recommended for security), the deposit window will reopen for 24 hours from the time of this post (Beijing Time 9:25 AM), with a per-wallet limit of 1 million US dollars, and the minimum deposit amount remains at 1,000 US dollars. Funds can be withdrawn at a 1:1 ratio at any time before the KYC phase is completed. Users who have not completed KYC can also withdraw at any time. If a successful deposit was made previously, the deposit will still be counted and deemed eligible.
Eligibility and KYC: After the deposit window closes, users have 72 hours to submit KYC information. Once KYC verification is completed, all eligible deposits will be transferred to the custodian and then deposited at the banking partner. Among the eligible deposits, a portion will be sent proportionally to the banking partner, and the remaining portion can be withdrawn via the withdrawal contract.
Allocation Model: If the total eligible deposits exceed 500 million US dollars, they will be allocated proportionally. For example, if the total eligible deposits = 1 billion US dollars, each wallet will receive 0.5 times its deposit amount; the remaining portion can be withdrawn via the withdrawal contract.
Settlement: The final allocation (in USDT form) will be settled on the Stable mainnet no later than December 31st.
Contract Recovery: Depositors who accidentally set the contract address as the deposit address can recover their USDC after the erroneous deposit is transferred to Anchorage custody via the transferToTreasury function.
You may also like
Crypto Price Prediction Today 18 February – XRP, Bitcoin, Ethereum
Key Takeaways XRP’s potential as a replacement for SWIFT is bolstered by regulatory approvals, potentially driving its price…
XRP Price Prediction: XRP is Outpacing Solana and Targeting Binance Coin Next – Should You Invest Now?
Key Takeaways XRP Ledger has moved into the sixth place by tokenized real-world asset value, surpassing Solana and…
New AI Predicts the Price of XRP, Dogecoin, and Solana By 2026
Key Takeaways ChatGPT anticipates significant price increases for XRP, Dogecoin, and Solana by the end of 2026. XRP…
Arthur Hayes Shares Two Scenarios for Bitcoin Price, Calling for a Major Crypto Rally
Key Takeaways Arthur Hayes predicts a significant crypto rally fueled by a $572 billion liquidity injection from the…
Bitcoin Price Prediction: Abu Dhabi Gov Funds Buy $1 Billion in BTC – What Do They Know?
Key Takeaways Abu Dhabi has revealed a $1 billion stake in Bitcoin through major ETF investments, signaling strong…
Bitcoin’s Divergence From Nasdaq Signals Dollar Liquidity Risk, Says Arthur Hayes
Key Takeaways Arthur Hayes highlights a concerning divergence between Bitcoin and the Nasdaq, pointing to a potential dollar…
Lagarde’s Possible Early Exit Could Alter Digital Euro Plans and Stablecoin Oversight
Key Takeaways Christine Lagarde’s potential departure as ECB president may disrupt the digital euro timeline and stablecoin policies.…
HYLQ Strategy Invests in Hyperliquid Quantum Solutions Pioneer qLABS, Acquires 18,333,334 qONE Tokens
Key Takeaways HYLQ Strategy Corp has made a strategic investment in qLABS, purchasing over 18 million qONE tokens…
WLFI Crypto Surges Toward $0.12 as Whale Purchase Precedes Trump-Linked Forum
Key Takeaways Whale accumulation has spurred a rally in WLFI crypto prices, reaching towards $0.12 ahead of a…
Cathie Wood Reverses Path with $6.9 Million Purchase in Coinbase Stock – Is ARK Strategizing a Rebound?
Key Takeaways ARK Invest acquires 41,453 shares of Coinbase, showing renewed interest post recent divestment. This acquisition by…
Crypto Lobby Establishes Working Group to Advocate for Prediction Market Regulatory Clarity
Key Takeaways The Digital Chamber announced the Prediction Markets Working Group to promote federal oversight of prediction markets.…
Peter Thiel Discreetly Withdraws from Ethereum Treasury Venture ETHZilla – A Cautionary Note for the DAT Model?
Key Takeaways Peter Thiel and Founders Fund have completely exited their position in ETHZilla. Thiel’s withdrawal raises questions…
Coin Center Advocates Protecting Crypto Developer Liability
Key Takeaways Coin Center is actively lobbying the U.S. Senate to safeguard crypto developer liability protections. The ongoing…
$150B in US Tax Refunds Could Catalyze Fresh Crypto Inflows, Historical Trends Indicate
Key Takeaways The IRS anticipates distributing approximately $150 billion in tax refunds to U.S. consumers by the end…
Oracle Error Leads DeFi Lender Moonwell to $1.8 Million in Bad Debt
Key Takeaways A critical oracle pricing glitch caused Moonwell to incur nearly $1.8 million in bad debt. The…
Crypto Price Prediction Today 18 February – XRP, Solana, Dogecoin
Key Takeaways XRP targets a $5 move, driven by its role as an alternative to SWIFT for cross-border…
China’s DeepSeek AI Predicts the Price of XRP, PEPE, and Shiba Inu By the End of 2026
Key Takeaways DeepSeek AI suggests significant potential price increases for XRP, PEPE, and Shiba Inu by 2026. XRP…
XRP Battles Key Support Amid Grayscale Sentiment Surge
Key Takeaways XRP has experienced a 29% price drop recently, creating a tense atmosphere among traders eyeing key…
Crypto Price Prediction Today 18 February – XRP, Bitcoin, Ethereum
Key Takeaways XRP’s potential as a replacement for SWIFT is bolstered by regulatory approvals, potentially driving its price…
XRP Price Prediction: XRP is Outpacing Solana and Targeting Binance Coin Next – Should You Invest Now?
Key Takeaways XRP Ledger has moved into the sixth place by tokenized real-world asset value, surpassing Solana and…
New AI Predicts the Price of XRP, Dogecoin, and Solana By 2026
Key Takeaways ChatGPT anticipates significant price increases for XRP, Dogecoin, and Solana by the end of 2026. XRP…
Arthur Hayes Shares Two Scenarios for Bitcoin Price, Calling for a Major Crypto Rally
Key Takeaways Arthur Hayes predicts a significant crypto rally fueled by a $572 billion liquidity injection from the…
Bitcoin Price Prediction: Abu Dhabi Gov Funds Buy $1 Billion in BTC – What Do They Know?
Key Takeaways Abu Dhabi has revealed a $1 billion stake in Bitcoin through major ETF investments, signaling strong…
Bitcoin’s Divergence From Nasdaq Signals Dollar Liquidity Risk, Says Arthur Hayes
Key Takeaways Arthur Hayes highlights a concerning divergence between Bitcoin and the Nasdaq, pointing to a potential dollar…
App