Plasma launches its mainnet dedicated to stablecoins with its XPL token, immediately reaching over $2 billion in liquidity, entering the global top 10 blockchains.
Foundations for a Digital Money System
Plasma is not just another blockchain. Its goal is clear: to become the go-to infrastructure for digital dollar transfers. Its proprietary consensus, PlasmaBFT, already enables fee-free transactions in USDT, at least during the launch phase.
The network is EVM-compatible, allowing developers to easily deploy their existing applications. And the launch was not solitary – over 100 DeFi protocols are already integrated, including Aave, Ethena, Fluid, and Euler.
A High-Pressure Start
The enthusiasm surrounding the project is not new. In June, Plasma made waves with a community deposit campaign: $1 billion raised in just 30 minutes. The operation highlighted massive demand for a dedicated stablecoin infrastructure.
A similar trend was seen during the public sale: $50 million raised, with total demand exceeding $373 million. And the campaign on Binance Earn set a record with $1 billion subscribed, touted as the largest in the exchange’s history in this format.
XPL Soaring at Launch
Market-wise, the excitement is tangible. The fully diluted valuation (FDV) of the XPL token has already surpassed $9 billion on platforms like Hyperliquid. A market cap that immediately positions Plasma among the giants.
CEO Paul Faecks didn’t hold back: “Stablecoins are the 2.0 currency. Enabling universal access to the dollar, irrespective of local economic context, will unlock unprecedented opportunities.”
On Aave, the enthusiasm is equally electric: the Plasma market exceeds a billion dollars in less than 24 hours, setting a historical record for the DeFi platform.
Public Outreach with Plasma One
Plasma isn’t stopping at developer infrastructures. The company unveiled Plasma One this week, a “neobank”-type application centered around stablecoins. Goal: to provide a simple interface for saving, spending, and sending digital dollars. The official launch is slated before the year’s end.
