Plasma (XPL) Launches to Ignite the Market: What is the Appeal of a Stablecoin Dedicated Chain that Raised $500 Million in 40 Minutes?

On September 25, the Beta version of the Plasma Mainnet and its native Token XPL officially launched. This high-performance first-layer Blockchain project designed specifically for stablecoins previously set an astonishing record during its ICO phase by raising $500 million in just 40 minutes, with investors paying exorbitant fees of $100,000 to secure their shares.

With leading CEXs including XPL in the 44th HODLer airdrop plan, distributing 75 million XPL to BNB holders, and exchanges like Gate launching XPL spot trading at the same time, this project has undoubtedly become one of the most noteworthy blockchain infrastructures in the second half of 2025.

###01 Project Positioning: High-performance Blockchain Optimized for stablecoin

Plasma is a high-performance Layer 1 blockchain project focused on the stablecoin ecosystem. Its core objective is to address the key challenges faced by stablecoins on networks such as Ethereum and Tron, including high transaction fees and low efficiency.

Unlike general Blockchain, Plasma is specifically optimized for stablecoin trading experiences. It offers zero-fee USDT transfer functionality, while supporting custom Gas Tokens and convenient cryptocurrency payment features. This characteristic makes it particularly suitable for high-frequency, small-scale daily stablecoin trading scenarios.

Plasma's unique technical architecture uses the Bitcoin Mainnet as the final settlement layer, inheriting the security of the UTXO model, while being fully compatible with the Ethereum Virtual Machine (EVM) at the execution layer, ensuring that smart contracts can be seamlessly migrated. This design allows Plasma to gain both the security of Bitcoin and the ecological compatibility of Ethereum.

###02 Core Features: The Perfect Combination of Zero Fees and Instant Settlement

The most striking feature of Plasma is its zero-fee USDT transfer capability. This function is not directly subsidized by Tether, but is achieved through an innovative economic model.

Plasma categorizes transactions based on complexity and priority. Ordinary USDT transfers, due to their small block space usage, are recognized by the system as "simple transactions" and are exempt from fees. More complex operations, such as contract calls and batch settlements, require payment of fees. This model is similar to a "child free ticket" strategy, which ensures basic needs while ensuring the sustainable operation of the network.

On a technical level, Plasma uses PlasmaFBT technology to achieve sub-second settlement, far exceeding the transaction confirmation speed of traditional blockchains. This feature makes Plasma particularly suitable for payment and business scenarios that require fast settlements.

At the same time, Plasma also has built-in privacy features, allowing users to easily check to hide address and amount information, and selectively disclose it when needed. This privacy protection mechanism provides greater flexibility for commercial applications and individual users.

###03 Flagship Product: Plasma One Reshaping the Digital Banking Experience

To showcase its technological strength, Plasma has launched its flagship product Plasma One - an application that integrates savings, consumption, and stablecoin payment functions.

Plasma One is designed as a new form of digital banking solution where users can manage their stablecoin balances (especially USD₮) and make payments directly from their earning accounts. The application supports physical and virtual cards, offering up to 4% cash back on spending, and has been implemented in over 150 countries and 150 million merchants worldwide.

What is even more striking is that Plasma One allows users to directly use these funds for payments while enjoying an annualized return of over 10%, achieving a seamless integration of savings and consumption. This innovation completely changes the situation in traditional finance where one must choose between liquidity and yield.

The ability for products to go live quickly is also a major highlight. After users complete registration and verification, they can obtain a virtual card in just a few minutes and start using it. This instant access experience greatly reduces the barrier to entry for users.

###04 Market Heat: Strong Performance from ICO to Exchange Listing

Plasma has maintained a high level of market attention from its initial fundraising to its listing on exchanges. During the ICO phase, Plasma completed its fundraising goal of $500 million in just 40 minutes, far exceeding the initial target of $50 million by ten times.

The number of wallets participating in this fundraising exceeds 1,100, with a median investment amount of approximately $35,000. To gain an advantage, some investors even paid a priority fee of $100,000 to ensure that their $10 million deposit would be processed first.

Market enthusiasm continues into the exchange listing phase. Major CEXs have included XPL in their HODLer airdrop program, distributing 75 million XPL (accounting for 0.75% of the total supply) to eligible BNB holders. At the same time, exchanges like Gate have also launched XPL spot trading.

Behind this market enthusiasm is the recognition of the prospects for stablecoin-specific Blockchains by investors. Deutsche Bank analysts predict that by 2030, 17% of payments will be made through stablecoins, and this huge potential market provides ample development space for Plasma.

###05 Economic Model: Value Support and Application Scenarios of XPL Token

XPL, as the native token of the Plasma network, has clear value support and application scenarios. Its initial supply is 10 billion coins, with a circulation of 1.8 billion coins (accounting for 18%).

In the inflation model, XPL adopts a gradually decreasing issuance mechanism, with an inflation rate of 5% in the first year, decreasing by 0.5% each subsequent year until reaching a bottom line of 3%. This design aims to balance the network security needs with the maintenance of Token value.

XPL plays multiple roles in the network. It is both the fee token for network transactions (for complex transactions) and a staking asset, while also serving governance functions. Additionally, XPL holders may also receive a share of the network's revenue, such as enterprise-level "dedicated line" service fees, contract and bulk settlement fees, etc.

Conservative estimates show that Plasma could generate revenue in the billion-dollar range for Tether within a year. This revenue will be partially distributed to network participants, creating value returns for XPL holders.

###06 Ecosystem Outlook: Infrastructure Opportunities in the Exploding Stablecoin Market

The development prospects of Plasma are closely related to the overall expansion of the stablecoin market. Currently, the total supply of stablecoins has exceeded 250 billion USD and is increasingly used for daily financial activities such as payments, remittances, and savings.

Bloomberg Intelligence predicts that by 2030, stablecoin payments could account for 17% of total payment flows, and in a bull market scenario, the penetration rate of stablecoins in cross-border business-to-business transactions could even reach 40%. This presents a significant opportunity for infrastructure projects focused on stablecoins, such as Plasma.

The clarification of the regulatory environment has also created favorable conditions for Plasma. The U.S. "GENIUS Act" establishes a federal regulatory framework for stablecoins, requiring 100% reserve backing and setting clear auditing and anti-money laundering compliance requirements. This regulatory clarity helps the healthy development of the stablecoin market.

As mainstream institutions like Deutsche Bank, OpenAI, and Visa enter the blockchain space through projects like Tempo, the competition for stablecoin infrastructure will become more intense, but the market space will also expand simultaneously.

###Conclusion

The official launch of Plasma marks a significant advancement in the infrastructure development dedicated to stablecoins. By organically combining zero-fee transfers, sub-second settlement, and user-friendly products, Plasma is expected to occupy an important position in the explosive growth of the stablecoin market.

With the support of mainstream exchanges like Gate and the gradual promotion of the Plasma One product, whether XPL can become an important bridge connecting traditional finance and the crypto world is worth the market's continued attention. As stablecoins become the mainstream choice for payments, Plasma, which specializes in optimizing the stablecoin experience, may open a new chapter in the segmentation of blockchain services.