Plasma, a stablecoins startup, has officially completed one of the largest token sales of the year, securing $500 million in under an hour.
The public presale of its native token, XPL, reached full capacity in just 40 minutes, underscoring immense interest from a global pool of crypto participants.
Although initially targeting $50 million, Plasma raised its cap twice due to overwhelming demand, eventually settling on a $500 million ceiling.
The final figure represents a tenfold increase from the original goal and reflects strong investor appetite for stablecoin-focused blockchain solutions.
This aggressive scaling was driven by demand from more than 1,100 wallets, each contributing a median deposit of roughly $35,000.
This confirms not only a strong base of participants but also high average commitment per buyer, signaling investor confidence in the project’s long-term vision.
Innovative token allocation attracted strategic buyers
Unlike most public token launches that rely on a first-come, first-served model, Plasma introduced a time-weighted deposit mechanism to ensure fairness.
This system rewarded users who deposited early and held their funds longer, allowing them to receive a proportionally higher allocation of XPL tokens.
As a result, the presale avoided the gas wars and technical congestion that often plague Ethereum-based sales, while also incentivizing stability and loyalty from its earliest backers.
Furthermore, the entire token allocation process was handled by smart contracts audited by Veda, a respected blockchain infrastructure company.
At the time of the sale, Veda’s audited smart contracts collectively managed over $2.6 billion in total value locked, lending an additional layer of credibility and security to the event.
XPL’s valuation matches equity round backing
The $500 million token raise represented 10% of Plasma’s total token supply, implying a fully diluted valuation of $5 billion.
This figure aligns with the valuation Plasma secured during a prior equity round led by Founders Fund, suggesting that the public and institutional markets are aligned in their confidence.
Backers of Plasma also include Framework Ventures and Bitfinex, with earlier rounds raising $3.5 million in seed funding and $20 million in Series A capital.
These high-profile endorsements helped boost trust and recognition, further fueling the token sale’s momentum.
Plasma aims to redefine stablecoin infrastructure
Plasma is building a Bitcoin sidechain that supports the Ethereum Virtual Machine, allowing it to operate seamlessly with DeFi applications while benefiting from Bitcoin’s unmatched security.
The network is tailored specifically for stablecoin transactions and plans to introduce zero-fee USDT transfers to optimize for speed, efficiency, and low-cost remittances.
With stablecoin regulation gaining traction globally, including new frameworks in the US and Europe, Plasma is positioning itself as a next-generation settlement layer.
As the world turns its focus toward regulated and secure digital payment rails, Plasma is betting big on a future dominated by scalable, fee-free stablecoin infrastructure.
The XPL presale may have ended in just 40 minutes, but its impact on the stablecoin landscape could resonate for years to come.