Hourglass has successfully completed the second phase of its Stable pre-deposit campaign, amassing over $1.1 billion in qualified deposits from more than 10,000 verified wallets. The campaign employed a pro-rata allocation mechanism, ensuring a minimum allocation of $1,000 per participant to mitigate the impact of large deposits. The funds are being transferred to Anchorage custody, with $500 million set to be allocated through top-tier investment banks. Hourglass plans to release further updates on the campaign's progress in the coming months.