29.07.2025 04:43
Plasma, a novel layer-1 blockchain specifically designed for stablecoins, has successfully concluded a public token sale, amassing a remarkable $373 million in just ten days. This significantly surpasses its initial target of $50 million, exceeding expectations by a factor of seven. The impressive fundraising demonstrates strong investor confidence in Plasma's innovative approach to stablecoin infrastructure.
More than 3,000 investors participated in the sale, contributing an average of approximately $83,000 per wallet. Ten percent of the network's total XPL token supply (1 billion tokens) was sold during this period, resulting in a project valuation of $5 billion. This substantial investment positions Plasma as a significant player in the burgeoning stablecoin ecosystem. Furthermore, the launch of the network’s beta mainnet, scheduled imminently, is expected to boast a total value locked (TVL) of $1 billion in stablecoins, a historically unprecedented rate of growth.
A key feature of Plasma is its commitment to zero-fee transactions, facilitated primarily by Tether (USDT). This is achieved through a unique design that leverages Bitcoin's UTXO model, while maintaining Ethereum Virtual Machine (EVM) compatibility. This innovative approach combines the security of Bitcoin's base layer with the functionality of Ethereum, creating a highly efficient and cost-effective solution for stablecoin transfers.
The timing of this successful fundraising is noteworthy, coinciding with the passage of the GENIUS Act, legislation designed to foster greater trust and confidence in the stablecoin market. This regulatory support, coupled with Plasma's technological innovation, likely contributed to the exceptional success of the token sale. US-based investors will have a 12-month lockup period, while international users will gain immediate access to their tokens upon the mainnet's launch. Information regarding this public sale was sourced from internet reports, not solely from single online publications.
