Facing challenges like high fees and centralization, Plasma proposes a novel blockchain designed specifically for stablecoins. The project plans to build a Bitcoin sidechain while maintaining full compatibility with the Ethereum Virtual Machine (EVM).
Stablecoins have become the backbone of on-chain payments, asset settlements, and financial services. Yet, existing blockchain infrastructures aren’t optimized for their needs—issues like high transaction costs, performance bottlenecks, and centralization risks persist.
Plasma offers a targeted solution: a high-performance Bitcoin sidechain dedicated to stablecoins, combining EVM compatibility with zero-fee transactions, enhanced security, and scalability.
This vision has captured market attention. In February, Plasma announced a $24 million funding round backed by Framework Ventures, Bitfinex, Founders Fund, Tether CEO Paolo Ardoino, and trader Cobie, among others. Notably, Sonar, the first ICO product on Cobie’s Echo platform, chose Plasma’s token launch as its debut.
ARK Invest’s "BIG IDEAS 2025" report revealed that stablecoin annualized transaction volume hit $15.6 trillion in 2024—surpassing Visa (119%) and Mastercard (200%).
As crypto’s true "killer app," stablecoins power payments, cross-border settlements, DeFi, and trading, drawing both crypto-native projects and traditional enterprises. Plasma aims to cater to this demand by building a high-throughput, scalable blockchain tailored for stablecoins, positioning itself as a global settlement layer for digital dollars.
The team highlights flaws in current stablecoin infrastructures:
Ethereum: High gas fees make it impractical for payments.
Tron: Low fees but overly centralized, with limited nodes controlled by a single entity.
Plasma’s answer? A Bitcoin sidechain with EVM compatibility, leveraging Bitcoin’s security while enabling feeless USDT transfers to unlock the stablecoin market’s trillion-dollar potential.
The project’s vision resonated with investors. Its $24 million raise included lead backers Framework Ventures and Bitfinex, alongside Bybit, Flow Traders, 6th Man Ventures, IMC, Nomura Securities, and angels like Peter Thiel and Cobie.
Founders Fund further doubled down with a strategic investment in May 2025 to accelerate stablecoin adoption in Latin America and the Middle East.
"Bitcoin’s unparalleled security and decentralization make it the ideal foundation for global stablecoin settlements," Plasma’s team asserts.
Key innovations:
PlasmaBFT Consensus: A Rust-based, Fast HotStuff variant optimized for low latency, processing thousands of transactions per second.
Bitcoin-Anchored Security: State roots are anchored to Bitcoin’s blockchain, inheriting its trust-minimized security without single points of failure.
The consensus rollout follows three phases:
Trusted Validators: Initial launch with a select group.
Scalability Testing: Expand validator sets for stress-testing.
Full Decentralization: Open participation for all.
For fee pain points, Plasma introduces a dual-layer architecture:
Priority Lane: Paid, faster transactions.
Free Lane: Feeless but slower, with rate limits and minimum balance requirements to prevent spam.
XPL, Plasma’s native token, powers consensus, EVM execution, and the Bitcoin bridge.
Public Sale Details:
Hosted on Plasma’s官网 with KYC via Echo Sonar.
Deposits open June 9; sale begins weeks later.
10% of XPL supply sold at a $500M FDV.
US participants must be accredited investors, with tokens locked for 12 months post-mainnet launch.
Deposit Phase Mechanics:
Users deposit stablecoins (USDT, USDC, etc.) into Plasma’s Ethereum vault, earning "Units" based on deposit duration.
Funds generate yield via Aave/Maker.
Early $100M cap may expand.
Post-deposit, a 40-day lockup converts all deposits to USDT for bridging to Plasma’s mainnet. At launch, users receive XPL and bridged USDT (US participants unlock XPL after 12 months).
Plasma’s model merges Bitcoin’s security, EVM flexibility, and stablecoin efficiency—a trifecta poised to redefine global payments. With institutional backing and a clear path to decentralization, it could become the backbone for the next era of digital dollar flows.
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Key Graphics from Original Article:
Plasma’s three-phase consensus rollout
XPL public sale structure and timeline
Dual-layer transaction architecture