ICO Plasma by Tether

How does the sale work?

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How much can you return from a $1,000 investment?

Why this ICO could be an opportunity for investors

Who invested earlier?

Community support isn’t just talk

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Plasma’s $250M XPL Token Sale

Minimalist digital illustration of a futuristic balance scale in teal light, set against a dark, clean background.

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Downsides of the Decision

Potential Upsides

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Conclusion

Tether

USDS

Tether coin glowing above a launchpad with radial lines and a silhouetted figure on a dark teal background.

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Plasma is launching a major public token sale for XPL via Sonar, Echo’s new platform. With backing from Tether and Cobie, and a fair, transparent structure, it’s a rare shot at early access without insider ties.

Cobie

echo

Framework Ventures

Founders Fund

Bitfinex

Peter Thiel

Coinbase Ventures

XPL Token Sale Launches June 9 on Sonar

United Kingdom

Moonrock Capital is a Blockchain Advisory and Investment Partnership based in London and Hamburg.

Moonrock Capital

DCF GOD

Devmons GG

Adam Cochran

Beezie

United States of America

Pantera Capital is a blockchain and cryptocurrency-focused investment firm and hedge fund. It was founded in 2013 by Dan Morehead, who is a former Wall Street executive and chief financial officer (CFO) at Tiger Management. Pantera Capital is known for being one of the earliest institutional investors in the cryptocurrency space and has been actively involved in supporting the growth and development of blockchain technology and digital assets.

Pantera Capital

Hong Kong

HashKey Capital is a blockchain and cryptocurrency-focused venture capital and investment firm based in Hong Kong. They specialize in funding and supporting early-stage blockchain and cryptocurrency projects, startups, and companies.

HashKey Capital

Primitive Ventures is an international venture investment firm that invests on blockchain and cryptocurrency technologies.

Primitive Ventures

Ambush Capital is an angel fund in New York that helps entrepreneurs through the early stages of building a company.

Ambush Capital

IMC Financial Markets

Gate Labs

aPriori

Malta

YZi Labs is an investment firm formerly known as Binance Labs that invests in all stages of development in the fields of Web3, artificial intelligence (AI), and biotechnology.

YZi Labs (prev Binance Labs)

Arrington Capital is a thesis-focused digital asset and Web3 investing firm. Since 2017, Arrington Capital has invested in over 200 early-stage companies in the crypto ecosystem. Arrington Capital's crypto-native team of seasoned entrepreneurs, founders, and executives is committed to doubling down on efforts to ensure our partners' success.

Arrington Capital

South Korea

Empowering mass adoption of the decentralized future 
through network building of the protocol economy.

Hashed

gumi Cryptos Capital is a blockchain and cryptographic asset fund that invests in the crypto native stack from L1 to the application layer, as well as in traditional businesses supporting the ecosystem.

gumi Cryptos Capital

CMS Holdings may also invest in early-stage blockchain and cryptocurrency projects through private investments and strategic partnerships. They provide capital and support to innovative startups in the crypto space.

CMS Holdings

OKX Ventures is a fund focused on exploring high-quality and promising projects, with an initial capital of $100 million.

OKX Ventures

Switzerland

ConsenSys develops enterprise applications, invests in startups, builds developer tools, and offers blockchain education.

ConsenSys

Chorus One is building validation and staking infrastructure for Proof-of-Stake networks.

Chorus One

Spencer Noon is a General Partner/ Investor at Variant. He attended Amherst College.

Spencer Noon

Flow Traders

Germany

Staking Facilities Venture is a venture capital investment firm based in Munich, Germany. The firm employs an early-stage and seed-stage investment strategy and invests across the blockchain, financial services and information technology sectors.

Staking Facilities Ventures

ABCDE Capital

Everstake Capital invests in early-stage blockchain startups and shares its profound technological expertise with them.

Everstake Capital

Laser Digital is a crypto business redefining the frontier of digital finance for institutional investors.

Laser Digital

TN Lee

CoinFund is a blockchain-focused investment firm and cryptocurrency research company that specializes in supporting and investing in early-stage blockchain and crypto projects. Founded by Jake Brukhman and Alex Felix in 2015, CoinFund has been active in the cryptocurrency and blockchain space for several years

CoinFund

Hypersphere is a crypto-native investment platform designed to partner with early-stage and public blockchain networks.

Hypersphere Ventures

Breed VC is an early stage crypto venture fund dedicated to helping the top founders build the decentralized future

Breed

WAGMI Ventures

Tykhe Ventures

Varrock

Irys

Framework Ventures is a cutting-edge venture capital firm deeply immersed in the world of decentralized finance (DeFi) and blockchain technology. Founded by Michael Anderson and Vance Spencer, Framework Ventures stands out as a key player in the rapidly evolving landscape of digital assets and blockchain-based financial innovations.

Lemniscap is an investment firm specializing in investments in emerging cryptoassets and blockchain companies

Lemniscap

Chase Chapman

Annika Lewis

Sriram Krishnan

Permanent Ventures

Protocol Specialist at Bison Trails (acquired by Coinbase). Tweetsman. Actually helpful angel, specializing in protocols: layer 1, 2, interop, bridges, and defi

Viktor Bunin

Race Capital

Double Down is a venture fund for ambitious equity efficient start-ups

Double Down Fund

Arweave

David Phelps

OpenSea Ventures

KYVE

Andrew Hong

Native Crypto

Fluent

Polychain Capital is a cryptocurrency-focused investment management firm and hedge fund. It was founded in 2016 by Olaf Carlson-Wee, who was the first employee at Coinbase and is known for being one of the earliest advocates of cryptocurrencies and blockchain technology. Polychain Capital is headquartered in San Francisco, California, and is considered one of the prominent players in the cryptocurrency investment space.

Polychain Capital

Balaji S. Srinivasan is the CTO of Coinbase and cofounder of Counsyl, Earn, Teleport, and Coin Center. He was previously CEO at Earn.com, which was recently sold to Coinbase. Prior to taking the CEO role at Earn.com, Dr. Srinivasan was a General Partner at Andreessen Horowitz. Prior to joining a16z, he was the cofounder and CTO of FoundersFund-backed Counsyl, where he won the Wall Street Journal Innovation Award for Medicine and was named to the MIT TR35. Dr. Srinivasan holds a BS, MS, and PhD in Electrical Engineering and an MS in Chemical Engineering from Stanford University. He also teaches the occasional class at Stanford, including an online MOOC in 2013 which reached 250,000+ students worldwide.

Balaji Srinivasan

Santiago Roel Santos is the Partner at ParaFi Capital

Santiago Roel Santos

Scott Moore

Will Price

Cristian Manea

dao5

Mustafa Al-Bassam

Builder Capital

Symbolic Capital is a crypto-native fund founded by web3 founders.

Symbolic Capital

coinflipcanada

Nomad Capital

Anurag Arjun

dingaling

Jason Yanowitz

chainyoda.eth

Public Works

Charles Lu

Alpen Capital (Prev. Comfy Capital)

The Rollup Ventures

Amber Group is a one-stop crypto finance service provider that provides liquidity provision, trading and asset management services 24/7.

Amber Group

Singapore

NGC Ventures is one of the largest institutional investors of blockchain technologies, and has been a key contributor to a number of leading projects.

NGC Ventures

Traditional VC investor into digital assets. We invest globally into outstanding founders building next generation of financial services.

RockawayX

Hivemind Capital Partners

Protagonist is a crypto fund and incubation lab supporting foundational protocols in emerging blockchain ecosystems.

Protagonist

No Limit Holdings

Paul Taylor

Silhouette

Outlier Ventures Lights the Way for Visionary Web3 Founders and Provides an Innovative Platform to Bring Their Big Ideas to Life.

Outlier Ventures

Web3.com Ventures

Moonhill Capital

Google for Startups

Assisterr

Lucid Drakes Ventures

Zephyrus Capital

Decasonic

X Ventures is a brand-new German Venture Studio Fund focused on Web3. We aim to become the leading blockchain venture studio fund globally.

X Ventures

Wise3 Ventures

Contango

Nader Dabit

Michael Heinrich

Mark Rydon

Ethan Francis

GFI Ventures

Selini is a global trading firm focused on systematic trading, liquidity provision, efficient execution, and venture investing—all within the digital assets space.

Selini Capital

Robot Ventures primarily invests in projects and companies related to decentralized finance (DeFi), blockchain technology, cryptocurrencies, and the broader Web 3.0 ecosystem. They seek to identify promising early-stage projects that are building innovative solutions in these areas.

Robot Ventures

Norbert Bodziony

Mo Shaikh

Mirage Protocol

Stake Capital

MH Ventures is a world-class community-backed venture capital investing in top blockchain projects of the future.

MH Ventures

Russia

HASH CIB (HASH#CIB)

Contango Digital Assets

Re7 Capital

ID Theory apply a principled and innovative investment strategy within decentralised networks.

ID Theory

Encode Club

A global group of crypto natives, founders, builders, and investors.

SpaceshipDAO

Base is a secure, low-cost, builder-friendly Ethereum L2 built to bring the next billion users onchain.

Base Ecosystem Fund

zeroDAO

Good Partners

GIZA

France

Dr Rand Hindi is an entrepreneur and investor in AI and Privacy. He is the CEO at Zama. Rand started coding at the age of 10, founded a Social Network at 14 and a web agency at 15 before getting into Machine Learning at 18 and starting a PhD at 21. He then created Snips, the first edge-based, private by design voice assistant, which was acquired bySonos.
He has been elected as a TR35 by the MIT Technology Review, as a “30 under 30” by Forbes, is a lecturer at Sciences Po in Paris and an advisor to multiple companies. He was previously a member of the French Digital Council where he focused on AI and Privacy issues.

He holds a BSc in Computer Science and a PhD in Bioinformatics from University College London (UCL), as well as two graduate degrees from Singularity University in Silicon Valley and THNK in Amsterdam.

Rand Hindi

CEO of StakeDAO, a core member at Curve Finance, and the inventor of flash loans

Julien Bouteloup

Israel

StarkWare Industries develops a full-proof stack in generating and verifying proofs of computational integrity in the blockchain.

StarkWare Industries

LambdaClass is a venture studio that works on difficult problems related to distributed systems, ML, compilers and cryptography.

			Stage	Investors
Beezie	--	--	Strategic Round	+2		NFT	Sep 15, 2025
APR aPriori	$20.00 M	~$200.00 M	Strategic Round	+4		DeFi	Aug 28, 2025
Irys	$10.00 M	~$100.00 M	Strategic Round	+4		Infrastructure	Aug 21, 2025
Fluent	$2.20 M	~$22.00 M	Funding Round	+2		Layer-2	Jul 17, 2025
Silhouette	$3.00 M	~$30.00 M	Pre-seed	+5		DEX	Jun 10, 2025
Assisterr	$2.80 M	$75.00 M	Funding Round	+2	--	Infrastructure	May 30, 2025
Mirage Protocol	$1.60 M	~$16.00 M	Funding Round	+4		DeFi	May 23, 2025
GIZA GIZA	$5.20 M	~$52.00 M	Funding Round	+13		Blockchain Service	May 15, 2025
GATA Gata	$4.00 M	~$40.00 M	Seed Round	+10		Artificial Intelligence (AI)	Apr 30, 2025
CAPX Capx AI	$3.14 M	~$31.40 M	Seed Round	+16		Blockchain	Mar 26, 2025
Hibachi	$5.00 M	~$50.00 M	Seed Round			DeFi	Mar 19, 2025
Opinion Labs	$5.00 M	~$50.00 M	Seed Round	+2		Social	Mar 18, 2025
Shaga	$4.00 M	~$40.00 M	Seed Round	+14		Gaming	Feb 26, 2025
Ranger	$1.90 M	~$19.00 M	Funding Round	+15		DEX	Jan 23, 2025
USUAL Usual	$10.00 M	~$100.00 M	Series A	+17		Stablecoin Issuer	Dec 23, 2024
Sphere	$5.00 M	~$50.00 M	Strategic Round	+26		Blockchain Service	Dec 11, 2024
Spicenet	$3.40 M	~$34.00 M	Seed Round	+16		Layer-2	Dec 11, 2024
USUAL Usual	$1.50 M	~$15.00 M	Funding Round			Stablecoin Issuer	Nov 6, 2024
Citrea	$14.00 M	~$140.00 M	Series A	+14		Infrastructure	Oct 31, 2024
Axal	$2.50 M	~$25.00 M	Pre-seed	+9		Blockchain Service	Oct 31, 2024

echo

About echo

Investments Allocation

Fundraising Rounds