Plasma, a new block chain built specifically for Stablcoins, is configured to turn the switch on its long -awaited main beta next week, introducing the chain and its native token, XPL, on September 25.
According to a team blog post, the Network will debut with more than $ 2 billion in liquidity of more than one hundred members on the first day, an aggressive attempt to place the plasma not as another general purpose chain, but as the backbone for stamping transfers.
That will not be an easy task. Ethereum and Solana already dominate the stable volumes, while the newest chains continue to optimize for similar flows. The Plasma bet is that its architecture, called Plasmabft, will give it an advantage. The system is designed for rapid transactions and stablecoin composed that the team said, and from the launch, users can move the USDT with zero rates through the plasma board, a feature that the equipment expects to stand out in a defi landscape full of people.
Token distribution is also aimed at wide accessibility. Before launch, 10% of XPL was sold in a public offer. At the launch, 25 million tokens will be assigned to the community, with another 2.5 million reserved for members of the Stablecoin collective call.
The support of the project are heavyweights of the cryptographic and risk worlds: the $ 24 million in seeds and series A were directed by Framework Ventures, with the participation of Bitfinex, Peter Thiel and the CEO of Tether, Paolo Ardoino, among others.
“The plasma mission is to become the basis of the global money movement. Mainnet Beta is the next step to make that vision real,” the team wrote.
Read more: Peter Thiel-Pipal Plasma Collects $ 20 million to develop a Bitcoin-based network for Stablecoins
