According to Plasma’s official announcement, the Tether-supported blockchain will launch its TGE and mainnet with over $2 billion in stablecoin value locked and integrations across 100+ DeFi protocols.
Plasma officially announced that its Token Generation Event (TGE) for the native XPL token will take place on September 25 at 8 PM UTC+8, coinciding with the mainnet launch. Backed by Tether, the blockchain will debut with more than $2 billion in stablecoin value locked and support for over 100 DeFi protocols including Aave and Ethena. Plasma enables zero-fee USDT transfers and runs on the PlasmaBFT consensus mechanism. The newly generated XPL tokens will be distributed to community members and the Stablecoin Collective.