#Plasma Sets July 17 #Token Sale After Attracting $1 Billion Deposits


$BTC stablecoin network Plasma has scheduled its $XPL token sale for July 17 following a massive deposit surge.


The $BTC sidechain attracted $1 billion worth of #crypto deposits, doubling from the initial $500 million target.


Token allocations are calculated pro rata based on deposit amounts and duration for the 10% supply offering.


Deposited tokens lock on July 14 and remain frozen for a minimum of 40 days after sale completion.


U.S. participants face a 12-month lock-up period to maintain regulatory compliance standards.


Mainnet launch is targeted for late summer, with the earliest possible date being Aug. 26.


Several unreleased stablecoins will debut alongside the network's mainnet activation.


The EVM-compatible chain optimizes for gasless stablecoin transactions using the $BTC settlement layer.

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July 11, 2025 at 2:56 PM
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