@NoahA @Sprout @RedDuke This is very exciting, imho, a blockchain for stablecoins, a sidechain of the Bitcoin network On a related note, I'm a big fan of the Aqua Wallet, which uses L2 Lightning network, and the Liquid sidechain I read about this launching soon, but was too busy to follow up if it was going to have a token and got my answers today Many opportunities, still, yield farming, outright purchase of the XPL token when it's available on CEX/DEX $XPL token of the Plasma L1 blockchain (sidechain) ------------------------------------------- https://thedefiant.io/news/blockcha...ain-plasma-fills-usd500-million-ico-instantly Stablecoin Blockchain Plasma Fills $500 Million ICO Instantly The hyped ICO for the Tether-backed 'stablechain' lived up to expectations, selling out in minutes. By: Squiffs • June 09, 2025 Layer 1 blockchain Plasma showcased the massive demand for exposure to the stablecoin sector this morning, filling a $500 million initial coin offering (ICO) deposit vault in a matter of minutes. The token sale was initially capped at $250 million, but after the vault filled instantly, the cap was doubled to $500 million, which filled as soon as market participants realized the cap had been increased. The raise is being managed in collaboration with Sonar, which is the ICO arm of Cobie’s public fundraising platform, Echo. Plasma is a ‘stablechain,’ or a Layer 1 (L1) blockchain optimized for stablecoin transactions, backed by Tether, the issuer of DeFi’s leading stablecoin, USDT. It’s offering 10% of its XPL token supply at a $500 million fully diluted valuation (FDV) through this sale. The sale attracted significant whale activity, with just over 1,110 wallets filling the vault for a median deposit of $35,000. The largest contributor to the presale sent the maximum allocation of $50 million, taking up 10% of the total presale. 38% of the raise is held by the top 10 depositors, and 50% belongs to the top 17. Despite some pushback due to the concentration of top holders, some analysts consider the raise a success. “All things considered, insanely good distribution of holders for @PlasmaFDN at $500m total size of deposit. Seeing a ton of folks with smaller amounts on here and only one entity with $50m in a wallet. Well done,” said Zaheer Ebtikar, the founder and Chief Investment Officer at Split Capital. It appears that Plasma may raise the deposit cap again, based on a Discord message from a team member, Nathan Lenga. It is unclear if any additional deposits would be offered XPL at the same valuation as the initial $500 million.
What you are saying is that we are all still very early and there are a lot of opportunities for us to be ahead of 99.9996% of the population
Just saw this now. Trying to figure out what the heck this token will do. I'm honestly not that big of a fan right now of "new" stuff in crypto. I don't see anything shooting up like it did in 2020/2021. What will this XPL token do for me? To be honest, I don't even really want to invest in anything because I think it will go up. I just want something that I need in my life. Bitcoin, obviously, for saving, and since I think it will be the world reserve asset. But I don't know what all these other projects will do. I can maybe see stuff like stocks one day traded on a blockchain, but we already have enough chains for that.
XPL will be the gas token of the Plasma blockchain similar to Eth for the Ethereum blockchain or Sol for the Solana blockchain or Bnb for the Binance Smart chain I saw Eth when it was less than $20... we all saw Sol when it was less than $10 during the bear market of 2022-2023, and Bnb I saw at less than $1 a long time ago Bitcoin is enough, no need to put money into other things... Bitcoin will be worth $1M within 5 years, $5M within 10 years, and $10M within 20 years