Plasma запускает токен XPL и готовится стать восьмым крупнейшим блокчейном по ликвидности стейблкоинов Translation: Plasma Launches XPL Token and Prepares to Become the Eighth Largest Stablecoin Liquidity Blockchain

On September 25th, the blockchain Plasma, focused on stablecoins, will launch its mainnet and the XPL token.

At the outset, the platform’s Total Value Locked (TVL) will amount to $2 billion. The funds will be allocated across over 100 DeFi protocols, including Aave, Ethena, Fluid, and Euler. According to the team, Plasma is set to become the eighth largest blockchain by stablecoin liquidity right from the start.

Users will have the ability to transfer USDT through the network’s interface without incurring any fees.

“We will focus on markets with limited access to dollars and high demand for stable currency, where the advantages of its use are most pronounced. Our aim is to simplify the storage, transfer, and application of digital dollars,” noted Plasma’s founder, Paul Fex, in a comment to DL News.

Months of preparation preceded the launch. In July, the project raised $373 million during a public sale of XPL, exceeding its target of $50 million by more than seven times.

Plasma is an EVM-compatible sidechain of Bitcoin designed for free USDT transactions. The network secured $3.5 million in investment from a round led by Bitfinex and $20 million in a Series A round involving Peter Thiel’s Founders Fund.

In recent months, an increasing number of companies have entered the race to develop payment networks for stablecoins. Earlier, payment giant Stripe and venture firm Paradigm began working on a blockchain called Tempo.

The company behind USDC, Circle, also announced plans to launch a blockchain named Arc aimed at processing transactions in stablecoins.

Currently, TRON and Ethereum are the market leaders. Over the last 24 hours, they have processed transactions amounting to $151 billion and $77 billion, respectively.

Previously, the TRON community supported an initiative to reduce fees by 60% to safeguard the blockchain’s position. Meanwhile, the volume of stablecoins on Ethereum reached a record $166 billion, with half of that attributed to USDT.

“Reducing fees on TRON makes sense considering its position as the second-largest network by stablecoin liquidity. However, in the long run, fees alone won’t ensure adoption,” Fex stated in a conversation with The Block.

According to him, Plasma will emerge as a significant competitor in the sector due to zero fees for USDT transfers and its expansion into new markets.

It’s worth noting that Tether has introduced a stablecoin for the US market.