- Hourglass sets $1 million wallet cap due to demand.
- KYC processes clarified to streamline user onboarding.
- Settlement timelines establish December 31, 2025, completion.
Hourglass has adjusted pre-deposit limits and clarified KYC and settlement timelines to manage high demand. Phase 2โs deposit cap is $1 million per wallet with a minimum deposit of $1,000, ensuring fair participation and secure funds.
Hourglassโs updates respond to extraordinary demand and aim to manage operational strain while ensuring user fundsโ safety. The changes reflect the companyโs efforts to balance community trust and fair participation.
Hourglass has placed a $1 million cap on deposits per wallet during Phase 2. All pre-KYC funds are withdrawable 1:1. Eligible USDT deposits will settle by December 31, 2025.
โSince the start of the second phase of the Stable pre-deposit campaign, platform traffic has been exceptionally high, causing Hourglassโs front-end RPC capacity to be fully utilized. Due to overwhelming demand, Hourglassโs institutional fund pool has suspended new deposit operations. User funds remain safe. Further updates will be announced soon.โ โ Official Statement from Hourglass, Hourglass
The significant surge in platform traffic led to operational adjustments. Hourglassโs front-end RPC capacity was fully utilized. Users faced a temporary suspension of new deposits as demand exceeded expectations.
Hourglassโs reforms included stricter caps and enforced KYC to restore trust. The modifications in deposit limits and proportional allocations highlight the challenges amid rapid growth and the efforts to create a fairer ecosystem.
The broader market has observed a temporary boost in TVL and liquidity within Stable, impacting USDC and USDT flows. These changes illustrate how stablecoin platforms are evolving under high demand and regulatory pressure.
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