Plasma, a new blockchain backed by Tether and Peter Thiel’s Founders Fund, has announced the launch of its mainnet beta and native token XPL on September 25. Upon debut, the network will boast $2 billion in stablecoin liquidity, instantly ranking as the world’s eighth-largest stablecoin chain.
Plasma’s strategy includes deploying funds across more than 100 DeFi partners, such as Aave, Ethena, Fluid, and Euler, to provide users with robust onchain utility. The network promises savings products, deep USDT liquidity, and the industry’s lowest borrowing rates.
A standout feature of the launch will be PlasmaBFT, a high-throughput consensus mechanism designed for stablecoin transfers. It will initially enable zero-fee USDT transactions within Plasma’s products, with plans to expand access later.
Vault deposits will bridge into user withdrawals, creating seamless interaction with USDT0. Plasma also aims to connect to physical peer-to-peer cash networks, extending digital dollar penetration into everyday commerce. The launch underscores efforts to cement stablecoins as global payment rails.
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