Layer 1 blockchain Plasma’s public sale just concluded with more than $373 million in commitments to purchase $50 million worth of the upcoming XPL token.
In an X post from Plasma today, the Ethereum Virtual Machine (EVM)-compatible, stablecoin-focused chain said it will launch its mainnet beta with $1 billion in total value locked.
The chain is backed by Tether’s sister-company, Bitfinex, which is responsible for the management and launch of the cross-chain iteration of USDT, USDT0. Once launched, the chain promises fee-free transfers of USDT.
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