GeckoPulse: STABLE Mainnet Awaits!

STABLE Season

Hot off the heels of its latest pre-deposit campaign, the stablecoin blockchain project known as Stable will be launching its mainnet next week on December 8.

The team also announced the project’s native STABLE token, which will be used for governance and to secure the network.

In line with other chains, holders can stake or delegate their tokens to validators, utilising a delegated proof-of-mechanism known as StableBFT to achieve consensus.

However, it’s worth noting that all payments on the network will be conducted in USDT, including transaction fees.

These fees will be accrued in the protocol’s vault, where validators can choose to distribute part of the rewards to delegators.

STABLE will have a fixed supply of 10B tokens, where 10% has been earmarked as part of its genesis allocation, and 40% will be allocated for developer grants and initiatives.

The remaining supply will be equally divided between the team and early investors, subject to a 4-year vesting schedule with a 1-year cliff.

A Difficult Choice for Aave

Money market DeFi protocol, Aave, is considering shutting down its V3 instances on ETH L2s zkSync, Metis, and Soneium.

According to a recent 'temp check' by the Aave Chan Initiative (ACI) for the protocol's multichain strategy, the revenue accrued from these platforms does not justify the risks and costs in maintaining them.

As such, the ACI has introduced a proposal to deprecate these instances and introduce increased reserve requirements of stablecoins and GHO on underperforming chains.

The proposal also includes the addition of a $2M revenue floor for future Aave deployments, which the network must guarantee.

The Snapshot vote for the proposal is currently live, with 100% of participants voting in favor.

Another Kind of Stable?

Following in footsteps of recent projects known as Stable, global payments firm Unlimit has debuted Stable.com, a decentralized clearing house for stablecoins.

According to the team, the Stable platform combines non-custodial stablecoin swaps with off-ramp services, allowing for more seamless real-world use cases.

In a nutshell, Stable functions like a stablecoin DEX, allowing users to exchange different stablecoins such as USDC or USDT across various networks.

The main difference is that traders can enjoy extremely low gas fees and zero slippage trades, but there will also be a small AML fee for each transaction.

Additionally, users can opt to pay for the fees using stablecoins, or native gas tokens.

With Unlimit’s global payment solution, users can also choose to sell their stablecoins directly into local fiat in over 150 different countries, supporting over 1,000 different payment methods.

However, it’s worth noting that the platform currently enables users to sell only USDC or USDT across Ethereum, Solana, and the BNB Chain.

Kalshi Expands On-chain

Prediction market platform Kalshi has launched tokenized versions of its event wagers on Solana in a bid to attract on-chain traders.

The tokenized markets are similar to the ones on Kalshi, but can be bought and sold on-chain, as is the case with Polymarket.

The tokenized bets are already live on the network, with institutional clients DFlow and Jupiter assisting with the conversion of off-chain orderbooks into DEX liquidity.

Over on the Jupiter interface, users can already check out some of the more popular events covering politics and the price of Bitcoin, which has already attracted over $77M in trading volume.

Besides that, Kalshi has also deployed Builder Codes, which allow developers to build applications on top of these liquidity pools and earn shared fees based on trading volume.

In Other News

Is Rizzmas Back? Rizzmas, a Solana memecoin, is making a resurgence, surging 54% on Tuesday. The memecoin previously reached a peak market capitalization of over $94M back in November 2024. The Rizzmas team is teasing that they have “big plans” for the upcoming Christmas holiday.

Kalshi Co-founder Surpasses Taylor Swift.  Luana Lopes Lara, the co-founder of prediction market place Kalshi, becomes the youngest self-made billionaire, surpassing the likes of Taylor Swift and Lucy Guo.

Binance Now Has Two Captains. Binance, the world’s largest crypto exchange, announced that co-founder He Yi will have a new role as co-CEO alongside her colleague Richard Teng. This announcement confirms that co-founder CZ will not reprise his role as CEO.

Aave Considers Shutting Down on zkSync. Aave, a major money market DeFi protocol is now holding a DAO vote, where the team is considering shutting down their V3 instances on ETH L2s zkSync, Metis and Soneium.

UK Recognizes Bitcoin Property Rights. On Tuesday, the UK passed a law that recognizes digital assets as a third category of property. The bill will now give UK residents legal protection for the “sats that they hold”.

Celestia-based Astria Network Shuts Down. Astria, an L1 pitched as the "first decentralized shared sequencing layer”, has shut down after the project failed to gain traction. Astria has raised a total of $18M through funding rounds in 2023 and 2024.

Hyperliquid Strategies Approved. The proposed merger forming a Nasdaq-listed HYPE digital asset treasury dubbed Hyperliquid Strategies has finally been approved after a previous delay in shareholder voting. Hyperliquid Strategies intends to raise up to $1B towards the purchase of HYPE tokens.

Claude Finds $4.6M in Smart Contract Exploits. Anthropic, the developer of the Claude LLM, announced that their internal testing revealed that their models, if weaponized, could gather over $4.6M by exploiting smart contracts on the blockchain. 

The Dark Hand of Voting. The privacy community of Zcash had a heated debate over X, where Vitalik Buterin chimed in, warning that their governance token voting system could erode the project’s privacy model. This discussion follows ZEC’s recent sharp decline in prices.

Vanguard Green Lights Crypto Funds. Vanguard, the world’s second largest asset manager, has just announced that it will now allow their clients to trade funds holding crypto and crypto ETFs on its platform. This will open the doors for greater institutional adoption of crypto.

Yearn Recovers $2.4M. The recently exploited DeFi protocol Yearn Finance was able to recover $2.4M out of the $8.9M lost due to an infinite minting exploit. Yearn assures that only yETH holders were affected, with remaining V2 and V3 funds unaffected.

HumidiFi Reveals WET Tokenomics. Prop AMM HumidiFi will launch their upcoming WET token as the inaugural token of Jupiter’s ICO launchpad, DTF. WET will have a maximum token supply of 1B, with 10% of the token supply earmarked for the ICO.