Hourglass announces the end of the second phase of Stable pre-deposit and releases allocation mechanism
BlockBeats News, November 15, Hourglass announced on the X platform that the second phase of Stable pre-deposits has now ended. More than 10,000 verified wallet addresses have cumulatively deposited over 1.1 billions USD in eligible deposits, setting a record for the largest and fully verified on-chain pre-deposit program to date. The specific allocation rules (including a minimum guaranteed amount of 1,000 USD) are as follows:
The second phase adopts a proportional allocation mechanism based on eligible deposits, with a minimum guaranteed amount of 1,000 USD to ensure that small depositors are not diluted by large depositors. The first 1,000 USD of all eligible deposits will receive a 100% allocation, and the excess portion will be allocated proportionally.
Based on the total eligible deposits of approximately 1.1 billions USD and a deployment quota of 500 millions USD, the final allocation ratio for funds exceeding the 1,000 USD base amount is about 45%, with the remaining approximately 55% to be refunded. All refunds for unallocated funds will be processed early next week, and users marked as ineligible can apply for withdrawal at any time.
The allocated funds are expected to be returned around the end of the year. Currently, the funds are being transferred to the Anchorage custody platform, with 500 millions USD to be deployed through top investment banks. More announcements will be released soon.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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