Plasma, a new blockchain specifically built for Stablecoins, is set to flip the switch to its long-awaited mainnet beta next week, introducing the chain and its native token, XPL, on September 25th.
According to In a blog post From the team, the network will debut with more than $ 2 billion in Stablecoin Liquidity from more than one hundred partners in the day-to-day aggressive attempt to position the plasma unlike another general objective chain, but as a spine for stablecoin transfers.
That will not be an easy hope. Ethereum and Solana are dominant stablecoin volumes, while newer chains continue to optimize for similar flows. Plasma’s stakes are its architecture, called plasmabft, will give it an edge. The system is designed for the fast, composable stablecoin transaction the team said, and from the launch, users can move the USDT with zero fees through the plasma dashboard – a feature that the team expects to stand in a tight defi landscape.
The token distribution aims at extensive access. Prior to launch, 10% of XPL was sold to a public offering. During the launch, 25 million tokens will be allocated to the community, with another 2.5 million reserved for members of the so -called Stablecoin Collective.
Back The project is heavyweights From Crypto and Venture Worlds: $ 24 million in seed and series A fund is led by framework ventures, with participation from Bitfinex, Peter Thiel and Tether CEO Paolo Ardoino, among others.
“The plasma mission is to be the foundation for the global currency movement. The mainnet beta is the next step in making that true vision,” the team wrote.
Read more: Peter Thiel-backed Plasma raises $ 20m to generate Bitcoin-based network for Stablecoins
