STBL, a decentralized finance protocol, has taken a proactive stance in addressing recent rumors that have emerged on social media regarding its token operations. As emphasized in the official statement, the team has clarified its position and reassured the community about the integrity of its ecosystem activities.
STBL Team Denies Market Speculation Connections
The STBL team firmly denied any connections between their token and market speculation involving entities like Wintermute. They emphasized that no team or investor wallets have engaged in transferring or selling tokens to exchanges, with all allocations adhering to established on-chain vesting schedules. This disciplined approach ensures that fewer than 5% of unlocked tokens will be utilized for operations in the current quarter, alongside planned buybacks and token burns to maintain deflationary pressure.
Distinction Between STBL and USST
Furthermore, STBL made a clear distinction between its governance token, STBL, and the upcoming RWA-backed stablecoin, USST, which is scheduled for launch on October 10. To address concerns about potential inorganic activity, the team has enlisted a third-party blockchain intelligence firm to conduct an investigation, with results to be shared once completed. This initiative reflects STBL's commitment to transparency and aims to bolster confidence in its ecosystem as the USST launch approaches.
