Plasma 

XPL Price

What is the Plasma (XPL) blockchain?

Plasma is an EVM-compatible Layer 1 blockchain purpose-built for stablecoin payments, best known for zero-fee USDT transfers. The network runs PlasmaBFT, a Proof-of-Stake consensus in which validators stake the native XPL token, and supports custom gas tokens and confidential transactions. Mainnet launched with TGE on September 25, 2025. The foundation also ships Plasma One, a consumer stablecoin app for card spending, yield and cross-border transfers. Target users span stablecoin holders, remittance fintechs and DeFi builders.

Is XPL a Plasma coin or a token?

XPL is the native coin of the Plasma blockchain. The asset pays gas and secures the chain's own consensus, so Plasma sits in the Layer 1 coin group rather than the token group — DropsTab classifies Plasma under Blockchain. A wrapped XPL representation also exists on Binance Smart Chain, extending the asset to BSC-based venues. The native asset lives on the Plasma chain, where its own block explorer tracks supply and transactions.

What is the Plasma XPL token used for?

XPL serves two core functions on the Plasma network. Validators stake XPL to secure PlasmaBFT, the chain's Proof-of-Stake consensus. XPL also pays gas for network transactions, and Plasma additionally lets applications configure custom gas tokens instead of paying fees in XPL. Staking and gas therefore tie token demand to network usage — a utility profile that depends on stablecoin-payment activity actually migrating to the chain.

How do Plasma XPL tokenomics split the total supply?

XPL has a total supply of 10,000,000,000 tokens and no fixed maximum — scheduled emissions define the supply ceiling over time. Allocation breaks down as 40% Ecosystem & Growth, 25% Team, 25% Investors, 10% Public Sale and 1% Airdrop, with the public sale priced at $0.05 per XPL. Team and Investors together control 50% of total supply — a concentration level that creates a structural overhang even with vesting in place.

What does the XPL token unlock schedule mean for investors?

Per DropsTab vesting data, the XPL unlock schedule lists 88 events running into 2028. TGE on September 25, 2025 released 19% of supply on day one — 10% Public Sale, 8% Ecosystem & Growth and the 1% Airdrop. From October 25, 2025, the Ecosystem & Growth pool unlocks 0.88889% of total supply monthly. The structure creates persistent sell pressure: once the Team and Investors schedules run alongside it, recurring monthly unlocks add roughly 2.3% of total supply combined.

How large was the XPL Team and Investors cliff unlock?

Plasma's Team and Investors allocations carried a 12-month vesting cliff that expired on September 25, 2026. On that date, each allocation released 832,500,000 XPL (8.325% of total supply), putting a combined 1,665,000,000 XPL — 16.65% of total supply — into circulation in a single day. From October 25, 2026, Team and Investors each unlock 69,479,166.67 XPL monthly through September 2028. This cliff stands as the largest single-day supply event in XPL's schedule.

Who backed Plasma?

Plasma raised $3.5 million in a seed round on October 18, 2024, led by Bitfinex. A February 13, 2025 round followed, led by Framework Ventures and Bitfinex, with participation from Peter Thiel, Paolo Ardoino, Bybit, DRW Venture Capital, Flow Traders, IMC, Laser Digital and Cobie. Founders Fund joined a strategic round on May 22, 2025; its size was not publicly disclosed. The roster combines Tether-affiliated capital, exchange backers and institutional market makers — unusually deep backing for a new L1.

How did Plasma distribute XPL to the public?

The XPL public sale ran July 17–28, 2025 on Sonar by Echo, raising $50 million at $0.05 per XPL — 1 billion tokens, 10% of supply. Impossible Finance ran IDIA and USDT staking pools on June 6–9, 2025 that granted public-sale allocation. Galxe hosted educational quests from March 10, 2025. A 100 million XPL airdrop allocation (1% of supply) released at TGE, and a Merkl-powered rewards program for users and liquidity started September 25, 2025.

Where and how is XPL traded?

XPL trades across tier-1 centralized exchanges. Binance anchors spot liquidity with the XPL/USDT pair, alongside Bybit, OKX, Kraken, KuCoin and Bitget, with Korean fiat pairs on Upbit and Bithumb. Derivatives venues add Binance Futures, OKX swaps and Hyperliquid perpetuals, so a large share of XPL's trading activity runs through derivatives rather than spot — headline depth overstates spot-only liquidity. A wrapped XPL representation on Binance Smart Chain extends trading to BSC venues, though Binance and OKX concentration creates venue-dependency risk.