The probability of the "Stable releasing a token this year" on Polymarket has risen to 97%.

On November 6th, the hardware and software company Arx Research announced the completion of a $6.1 million seed round of financing. This round was led by Castle Island Ventures and involved institutions such as Inflection, Placeholder, Seed Club Ventures, and 1kx. Cameron Robertson, the co-founder and CEO of Arx Research, stated that this funding round utilized a SAFE (Simple Agreement for Future Equity) structure but did not disclose the timing of the financing or the post-money valuation. This round of financing will be used to launch the "Burner Terminal," a handheld sales terminal device that integrates digital assets with traditional payments. The terminal is capable of simultaneously accepting stablecoins, contactless payments (such as NFC), and chip + PIN cards. It has received EMV certification to ensure that it meets international standards in terms of security, compliance, and compatibility with existing payment systems.

November 6th. As per TechCrunch, the cryptocurrency trading app Fomo has successfully completed a Series A funding round of $17 million, with Benchmark taking the lead. This brings the total funding to $19 million. The participating investors comprise Marc Boiron, the CEO of Polygon Labs, Raj Gokal, the co-founder of Solana, and Balaji Srinivasan, the former CTO of Coinbase and an angel investor. The Fomo app was launched in May this year, enabling users to conduct quick account opening transactions through the integration of Apple Pay. The platform supports cross-chain transactions for millions of crypto assets, charges a transaction fee of 0.5%, waives Gas fees, and incorporates built-in social features that allow users to track others' trading strategies.

On November 6th, Stablecoin Public Chain Stable announced that the second phase of the deposit event has commenced. Previously, it was reported that Stable stated that the second phase of the deposit event would be able to accept up to 500 million US dollars in eligible deposits. Participants are required to use USDC for deposits and complete Know Your Customer (KYC). Each verified user is limited to one wallet. All USDC deposits will be converted into brand new USDT on the Stable network, which will enhance on-chain liquidity, bridge institutional funds with the on-chain market, and strengthen the overall ecosystem's stablecoin liquidity.

On November 6th, based on market data, STABLE was trading at a pre-market price of 0.055 US dollars on Binance's perpetual contract. Binance's official announcement indicates that the total supply of STABLE tokens is 100 billion, corresponding to a fully diluted valuation of 5.5 billion US dollars.

On November 6th, MegaETH tweeted: "Based on verifiable on-chain data, social influence, and Mega credentials, over 5,000 users have been selected. They have officially become MegaETH hodlers together with Fluffles and Echo. The MEGA allocation lookup page is now available."

On November 6th, Merlin Egalite, a co-founder of Morpho, responded to the issue of "liquidity shortage" in some of the pools. He stated, "When the market is under pressure, people often choose to reduce risk. This means that many lenders will simultaneously try to withdraw all funds, resulting in an increase in the fund utilization rate, a decrease in liquidity. In extreme cases, there may be no available liquidity in the short term. This is not a systemic flaw but a natural response mechanism of the lending pool under pressure. To restore balance, the interest rate model will automatically raise the borrowing rate." Taking Morpho as an example, its target fund utilization rate is 90%, which means that in most cases, about 90% of the deposited funds will be lent out. When the utilization rate surges to 100%, the interest rate will increase fourfold. In the vast majority of cases, the market rate usually rebalances within a few minutes (around 90% utilization rate). However, in times o