Stablecoin-Focused Plasma’s XPL Token Debuts With $2.8B Market Cap
The native token, XPL, of the stablecoin-focused Plasma blockchain launched on major exchanges such as Binance and OKX. Early trading saw prices reach up to $1.54, resulting in a market capitalization exceeding $2.8 billion. Currently, 18% of the 10 billion total supply is in circulation.
Key Highlights:
- Total value locked in stablecoins: Over $2 billion
- EVM-compatible design
- XPL serves multiple roles: gas token, staking asset, reward token
- Plasma enables gasless stablecoin transfers for simple transactions like USDT sends and receives
- Complex transactions require XPL or converted fees
- Launch of Plasma One, a stablecoin-native neobank for digital dollar services
Tokenomics:
- Total supply of XPL: 10 billion tokens
- 40% allocated for ecosystem growth; initial 8% unlocked at launch
- 25% allocated to founders and employees with vesting terms
- 25% allocated to early backers with similar vesting conditions
- Inflationary model with Validator rewards starting at 5%, decreasing to 3%