Plasma employees promise to launch a blockchain for the Plasma stablecoin on September 25, 2025.
The network's beta version will go live next Thursday at 1:00 PM Moscow time. The value of stablecoins issued on this blockchain will immediately reach $2 billion, making Plasma the eighth-largest cryptocurrency network by stablecoin liquidity.
If all goes according to plan, the Plasma blockchain will boast high performance. The network will be able to process over 1,000 transactions per second, with block addition times of less than 1 second. By comparison, the Ethereum blockchain can process 50-100 transactions per second, with blocks added every 12 seconds.
Users of the new network will be able to send Tether (USDT) coins to it fee-free via a bridge available in the Plasma app. Stablecoins and other digital assets will be transferable to over 100 active DeFi platforms, such as lending services.
Plasma's main advantage lies in its favorable terms for stablecoin use. Specifically, the blockchain will boast the lowest interest rates on USDT loans, and Tether coins will be allowed to be sent commission-free. The network's native token will be Plasma (XPL), with a limited supply of 10 billion. 1 billion digital assets were sold to early investors, and an additional 25 million tokens will be distributed to them to celebrate the mainnet beta launch. Additionally, members of the Stablecoin Collective will be gifted 2.5 million XPL.