Plasma blockchain is advancing towards its mainnet launch scheduled for late summer, buoyed by significant deposit inflows and plans for an XPL token sale. Deposits secured by the project have surged to $1 billion, doubling its initial target of $500 million, signaling strong market confidence ahead of its network debut.
As part of the launch strategy, Plasma has scheduled its XPL initial coin offering (ICO) for July 17. The ICO will offer 10% of the total XPL token supply. Notably, participants from the United States will be subject to a 12-month lock-up period preventing immediate token sales.
Designed specifically for stablecoin efficiency, Plasma blends elements of Bitcoin’s security with Ethereum’s programmability, achieved through Ethereum Virtual Machine (EVM) compatibility. This positions it to engage actively with the substantial stablecoin market, which analysts value at approximately $255.9 billion.
The project also anticipates potential benefits from evolving regulatory landscapes, including discussions surrounding stablecoin proposals like the GENIUS Act.
While details remain pending finalization, sources indicate Plasma’s mainnet launch timeframe extends no earlier than August 26. The project’s primary objective is establishing itself as a blockchain optimized for scalability and security within the rapidly growing stablecoin sector.