Plasma, a new blockchain built specifically for stableecoins, is set to turn the contact on his long -awaited Mainnet Beta next week, introducing the chain and its original token, XPL, on September 25.
According to a blog post from the team, the network will debut with more than $ 2 billion in stablecoin liquidity from over a hundred partners on the first day-a aggressive attempt to place plasma not as just another general chain, but as the backbone of stablecoin transfers.
It won’t be an easy feat. Ethereum and Solana are already dominating stableecoin volumes, while newer chains continue to optimize for similar currents. Plasma’s efforts are that its architecture, called Plasmabft, will give it an edge. The system is designed for fast, composed stableecoin transactions, as the team said, and from the launch users will be able to move USDT with zero fees through Plasma’s dashboard -a feature that the team hopes will stand out in a crowded Defi landscape.
Token distribution is also aimed at broad accessibility. Before launching, 10% of XPL was sold in a public offer. At the launch, 25 million tokens are awarded to the community with an additional 2.5 million reserved for members of the so-called stablecoin collective.
Support of the project is heavy weights from Crypto and Venture Worlds: The $ 24 million in seeds and Serie A Financing was led by Frame Ventures, with the participation of BitFinex, Peter Thiel and Tether CEO Paolo Ardoino, among others.
“Plasma’s mission is to become the basis of global money movement. Mainnet Beta is the next step in making this vision real,” the team wrote.
Read more: Peter Thiel-Supported Plasma Travel $ 20M to develop Bitcoin-based networks for stablecoins
