Tether-backed Plasma mainnet beta launches Sept 25

Plasma, a stablecoin-focused blockchain, has revealed plans to launch its mainnet beta and native token, XPL, on September 25. If the launch becomes successful, the blockchain network will be positioned as the eighth biggest crypto network for stablecoin liquidity. The announcement came after the network shared a blog entry highlighting that its mainnet beta and the XPL token will be launched next week. The network also mentioned that it will have $2 billion in stablecoins ready for the launch. Interestingly, Plasma has already secured a strong support system from Tether, the largest stablecoin issuer in the crypto market, and Peter Thiel’s Founders Fund. Plasma intends to upgrade its system to enhance its users’ experience The Plasma stablecoin blockchain has made public its intentions to invest significantly in more than 100 DeFi partners. This includes top DeFi protocols such as Aave, Euler, Fluid, and Ethena. With this investment, the team seeks to provide instant benefits, create savings that maintain value, develop deep USDT markets, and offer the lowest borrowing rates, particularly for USDT, in the industry. In the meantime, it is anticipated that Plasma users will be able to access vault deposits and withdraw USDT from the account when the mainnet beta is launched. Concerning this, the team stated that the event will indicate the end of their final launch phase and grant all its users the privilege to enjoy zero-fee USDT transfers. The network has also vowed to introduce PlasmaBFT, a high-throughput consensus layer responsible for overseeing stablecoin transactions as part of its mainnet beta launch. With this tremendous objective, its users can easily move USDT without being subjected to any fees through authorization-based transfers. Plasma aims at solidifying its position as a leading blockchain network in digital dollars Concerning its mainnet beta and native token, XPL’s launch, Plasma has alerted its users that it will restrict zero-fee transfers to its products. Notably, this will apply during the launch and testing phase. This will, however, not apply to other services. The announcement came after the team said it plans to gradually permit zero-cost transfers for other services. To solidify its position as a leading network for digital dollars, Plasma intends to link with real-life peer-to-peer cash systems to enable digital dollars to extend their reach to more businesses. Meanwhile, it is worth noting that Binance, the world’s leading cryptocurrency exchange, had earlier offered a pre-market perpetual contract for XPL, which supports the Plasma stablecoin blockchain, with prices mounting to about $0.55. Following its launch, the network’s team has stated that at the beginning of the mainnet beta, they will give out an additional 25 million XPL tokens as a reward to its users, particularly those who finished Sonar verification and actively participated in the sale. In addition, they will put aside 2.5 million XPL for current and future members of the Stablecoin Collective. In the case of XPL token distribution, Plasma stated that investors in the US will receive their tokens from July 28, 2026, following legal requirements. Those in other countries who joined the public sale will receive theirs when the mainnet beta is launched. Join Bybit now and claim a $50 bonus in minutes