Hourglass: The second phase of the Stable pre-deposit vault has ended, with over 10,000 verified wallets contributing $1.1 billion in deposits

Hourglass tweeted that the second phase of the Stable pre-reserve fund has concluded. Over 10,000 verified wallets contributed more than $1.1 billion in qualified deposits. The fund distribution in the second phase was done on a pro-rata basis, based on qualified deposits, with a minimum allocation guarantee of $1,000 to prevent the dilution of small participants' funds by larger depositors.

For each qualified deposit, the first $1,000 will be allocated at 100%; the portion exceeding $1,000 will be distributed proportionally. Based on approximately $1.1 billion in qualified deposits and $500 million in deployment capacity, the final allocation ratio for the portion above the $1,000 minimum threshold is approximately 45%, with the remaining approximately 55% being refunded. Refunds for the undistributed portion will be issued early next week. Users marked as ineligible can continue to withdraw at any time.