Stable hits $825M pre-deposit cap amid front-running allegations, with large wallets dominating the campaign before it went live.
Stable, a Layer 1 blockchain focused on stablecoin transactions, has reached its $825 million pre-deposit cap for Phase 1. The campaign allows users to deposit USDT in exchange for future rewards tied to the network’s native token.
However, shortly after the announcement, the community raised concerns regarding the fairness of the process. On-chain data revealed that large wallets contributed to the majority of deposits, sparking allegations of front-running.
Allegations of Front-Running in Stable’s Pre-Deposit Campaign
The pre-deposit campaign was intended to allow both institutional and retail investors to participate. Yet, soon after the campaign began, the crypto community noticed unusual activity.
On-chain data shared by user @0xastronomica revealed that over 600 million USDT was deposited by just ten large wallets before the campaign was officially live. This raised questions about the fairness of the process, particularly for smaller retail participants.
BRO VAULT WAS ALREADY FILLED 30 MINUTES AGO.
– 10 WHALES INVESTED 600 MILLION USDT, AND THIS WAS BEFORE THIS ANNOUNCEMENT.
WHAT NONSENSE IS THIS? https://t.co/ZWdHFNRrNO pic.twitter.com/ot1Zy1A0cj
— astronomica (@0xastronomica) October 24, 2025
In addition, an address linked to the BTSE exchange transferred around $500 million USDT into the campaign, making up over 60% of the total deposits. The transaction occurred shortly before the campaign’s official start, fueling suspicions of front-running.
Critics argue that this may have prevented smaller retail investors from participating in a campaign they were supposed to be able to access equally.
Community Reaction and Concerns
The crypto community’s reaction to the situation has been critical. Some users feel that the early participation by large wallets made it nearly impossible for retail investors to join. “Is a public sale really a public sale if you don’t tell anyone until its full?” wrote user @emmettgallic on social media. This statement voiced the frustration felt by many users who were unable to participate.
Is a public sale really a public sale if you don’t tell anyone until its full.
The Stable Pre-Deposit was posted as live by stable 1:13 UTC and the last deposit was 1:14 UTC.
On the other hand the first deposit was 00:48 UTC. lol
— Emmett Gallic (@emmettgallic) October 24, 2025
Others have called for greater transparency in the process to ensure fairness in future campaigns.
While some believe the early deposits were not intentional, the situation has raised concerns about how such campaigns are managed. These concerns will likely persist unless Stable addresses the issues of fairness and transparency moving forward.
What’s Next for Stable?
Following the success of Phase 1, Stable is preparing for Phase 2 of its campaign. However, the company has not yet provided a specific timeline for the next phase.
Stable aims to create a high-throughput network optimized for USDT payments and decentralized applications (dApps). Backed by Bitfinex and USDT0, the project has the potential to grow, but addressing these concerns will be crucial.
As Stable moves forward, it will need to restore trust within its community. If concerns about front-running are not addressed, the project may face increased scrutiny.
The next phase of the pre-deposit campaign will provide a clearer picture of how Stable plans to improve transparency and ensure broader access to its offerings.
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