On November 15th, Hourglass announced on the X platform that the second phase of the Stable pre-deposit program has now concluded. Over 10,000 verified wallet addresses deposited more than $1.1 billion in eligible deposits, marking the largest and fully validated on-chain pre-deposit program to date. Specific allocation details (including a minimum guaranteed amount of $1,000) are as follows:
The second phase employs a proportional allocation mechanism based on eligible deposits, with a minimum guarantee of $1,000 to ensure that smaller depositors are not diluted by larger depositors. The first $1,000 of all eligible deposits will receive 100% allocation, with any excess allocated proportionally.
Based on approximately $1.1 billion in eligible deposits and a $500 million deployment limit, the final allocation for funds exceeding the $1,000 base limit is approximately 45%, with the remaining approximately 55% to be refunded. Refunds for all 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. The funds are currently being transferred to the Anchorage escrow platform, with $500 million to be deployed through top investment banks. More announcements are forthcoming.
