Plasma Launches Mainnet, Introducing XPL Token and Stablecoin Revolution
Plasma, a trailblazing Layer-1 blockchain project, has launched its mainnet, introducing the XPL token and a new era for stablecoin transactions. The token initially traded at $1.54 before settling at $0.91, giving Plasma a fully diluted valuation of $8.6 billion.
The launch of Plasma's blockchain coincides with the introduction of Plasma One, a digital-first banking service tailored for stablecoin users. The project, helmed by CEO Paul Faecks, aims to redefine how stablecoins are integrated into both decentralized finance (DeFi) ecosystems and mainstream finance.
Plasma secured a substantial $500 million through its initial coin offering (ICO), demonstrating strong investor confidence. The project boasts prominent advisors such as Paolo Ardoino, head of Tether, and Peter Thiel, co-founder of PayPal. The Plasma blockchain is a dedicated Layer-1 network for stablecoin transactions, utilizing a staking-driven consensus model powered by the XPL token.
The launch of Plasma's Layer-1 blockchain marks a significant milestone for the project, enabling stablecoin payments and decentralized finance applications. In appreciation of early supporters, Plasma distributed XPL tokens valued at $8,390 each to all pre-deposit ICO participants, totaling approximately $25.5 million. With a vision to become a hub for 'Money 2.0', Plasma is poised to shape the future of stablecoin infrastructure.
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