Plasma Mainnet Beta Launches Sept 25, Debuts XPL Token & $2B USDT
Plasma mainnet beta is set to launch on Sept 25, debuting its native XPL token. Backed by Tether and Founders Fund, the network completed a $1 billion USDT deposit campaign and an oversubscribed $50 million XPL public sale. Binance seeded early liquidity with a pre-market XPL/USDT perpetual contract around $0.55 and added momentum via a $1 billion on-chain product cap on Binance Earn.
At launch, Plasma will distribute $2 billion in USDT liquidity across more than 100 DeFi platforms, including Aave, Euler, Fluid, and Ethena. The new PlasmaBFT consensus layer powers instant, authorization-based transfers, with zero-fee USDT transfers and unlimited zero-cost vault deposits and withdrawals during the beta.
Governance and validator rewards will be issued in XPL, with 25 million tokens for early participants and 2.5 million for the Stablecoin Collective. U.S. holders face a one-year lockup due to regulations. Plasma aims to drive real-world stablecoin utility in payments, FX, and on/off-ramps, positioning digital dollars as mainstream money.
Bullish
The launch of Plasma mainnet beta, backed by Tether and major partners, with significant USDT liquidity and zero-fee transfers, is likely to boost demand for the XPL token. Strategic DeFi integrations across 100+ platforms and Binance’s pre-market listings increase its utility and visibility, driving positive sentiment and trading volume. The one-year lockup for U.S. investors may moderate immediate sell pressure, supporting price stability. Overall, the news sets a bullish tone for XPL in both short-term momentum and long-term adoption as stablecoin finance expands.