Overview of stablecoin project Plasma information and tokenomics

On August 22, today's CEX Plasma USDT periodic product's second round of 250 million USDT was sold out in 3 minutes, attracting market attention. On June 9, a certain address spent 39.15 ETH (worth about 100,000 USD) in high Gas fees to become the first address for Plasma deposits, successfully staking 10.17 million USDC to Plasma. The investor lineup for Plasma is strong; it is a Layer 1 Blockchain designed specifically for stablecoins, aiming to optimize stablecoin payments and settlements while providing efficient, low-cost, and secure trading experiences. Previously, it received strategic investment from Peter Thiel's Founders Fund and announced the completion of a $24 million funding round earlier this year (including $20 million in Series A funding and $4 million in seed funding), led by Framework Ventures, with participation from cryptocurrency trading platform CEX, venture capitalist Peter Thiel, and Tether CEO Paolo Ardoino. On July 17, Plasma announced the launch of its token XPL public sale, with subscription amounts exceeding $373 million, oversubscribed by more than 7 times. Additionally, the project's mainnet Beta version will officially launch with a total lock-up value (TVL) of $1 billion in stablecoins, setting a record for the fastest achievement of this TVL scale in blockchain history. The native token XPL's economic model has also been announced, with a total supply of 10 billion tokens, and the specific distribution plan is as follows: 10% for public sale distribution, XPL for non-U.S. buyers will be fully unlocked when the Plasma public mainnet test version launches; XPL for U.S. buyers must be locked for 12 months and will be fully unlocked on July 28, 2026; 40% for ecosystem and growth distribution, of which 8% will be immediately unlocked when the mainnet test version launches, and 32% will be unlocked proportionally each month over three years after the mainnet test version launch; 25% for team distribution, of which 1/3 will be unlocked one year after the public launch of the mainnet test version, and the remaining 2/3 will be unlocked proportionally each month over the following two years; 25% for investor distribution, with the unlock schedule the same as the team's.