Plasma Joins Chainlink Scale with $6.5B in Stablecoin Assets
Plasma, a new high-performance Layer-1 blockchain focused on stablecoin applications, has joined the Chainlink Scale program. This partnership grants Plasma developers access to Chainlink's oracle services for building advanced decentralized finance (DeFi) applications. The collaboration is expected to foster rapid growth in Plasma's ecosystem, which already holds over $6.5 billion in stablecoin assets shortly after its launch.
- Plasma raised $74 million, with $24 million from private rounds by Bitfinex and Framework Ventures, and $50 million from a public sale.
- The native Plasma token achieved a $2.5 billion market cap upon exchange debut but saw a price drop of nearly 50% soon after.
- Market reactions are mixed, with some praising technical capabilities, while others express concerns about potential "pump and dump" schemes.
- Plasma continues to innovate, launching Plasma One, a stablecoin-native neobank, and planning future features like "Zero Fee USDT Transfers."
The integration with Chainlink enhances Plasma's technical foundation, offering secure off-chain data. The challenge remains to convert initial funding into a sustainable financial ecosystem amid varied market sentiments.