The Plasma stablecoin project will launch the public sale of XPL on July 17.

Users need to note that deposit and withdrawal transactions will be locked from July 14, and the deposited funds will be frozen for at least 40 days after the sale ends.

MAIN CONTENT

  • The XPL sale officially starts on July 17.

  • Deposits and withdrawals will be locked from 0h on July 14, 72 hours before the sale.

  • Deposits will be locked for at least 40 days after the sale ends; do not use the Vault for this sale.

When does the public sale of XPL take place and how does it affect users?

According to official information from Plasma, the public sale of XPL Tokens will begin on July 17, after the platform locks all deposit and withdrawal transactions starting at 0h on July 14. This ensures transparency and stability during the Token issuance process and requires users to prepare their accounts with sufficient funds before this time.

The transaction lock 72 hours before the sale helps prevent manipulation or sudden withdrawals, while protecting fairness for all participating investors. This is an important step to comply with the Token issuance process according to safety and legal standards.

Why can't deposits through the Vault be used for this sale?

According to Plasma, deposits in the Vault will not be counted for this XPL Token sale. Users need to prepare separate funds to participate, ensuring clear liquidity status and minimizing the risk of executing transactions improperly.

This is important experience in asset management in cryptocurrency projects, especially when launching stablecoins and new governance Tokens.

"The transaction lock before the sale helps protect investors from liquidity volatility risks and increases transparency for the entire issuance process."
Mr. Nguyen Van Nam, CEO of the Plasma project, 10/07/2024

How long will deposits be locked after the XPL sale?

Users need to note that all deposits for purchasing XPL Tokens will be frozen for a minimum of 40 days after the sale ends. This is a control mechanism to stabilize the value of Tokens and limit fluctuations in the primary market.

The long-term locking of money is usually applied in large-scale projects to provide a clear warning to investors about the commitment period for holding Tokens before they can be traded again.

How does the locking mechanism affect investment strategies?

An amount locked for 40 days cannot be withdrawn or converted, which will require investors to carefully plan their cash flow and predict market fluctuations. This also helps the project attract long-term investors with a more stable growth orientation.

"The locking of funds after the sale is an international standard to ensure sustainability and avoid massive sell-offs that harm the project."
Dr. Le Thi Huong, cryptocurrency financial expert, 06/2024

How can users prepare for the XPL sale?

Users should prepare enough cash in their main account, not use the money in the Vault, before July 14 to ensure their rights to participate in purchasing XPL Tokens. Following official announcements from the project is necessary to avoid mistakes during the deposit process.

Thorough preparation in advance helps ensure a smooth trading experience, avoids missed opportunities, and minimizes risks due to technical issues or trading limits during the lock period.

What should users do on July 14 when the transaction lock begins?

At this time, users will not be able to deposit or withdraw money, so they need to check their balance and complete necessary transactions before 0h on July 14. This ensures they are not affected when the platform lock begins, thereby protecting personal assets.

Important terms in the XPL sale that you need to understand

Term Meaning Public Sale The phase open for all investors to participate in purchasing new Tokens. Transaction Lock-up The period during which deposits, withdrawals, or asset conversions are not allowed to stabilize the market. Vault A place to store separate funds, not used for this sale. XPL Token A stable token issued by the Plasma project in this sale.

Frequently Asked Questions

  • When does the XPL sale start?
    On July 17, 2024, according to the official announcement from Plasma.

  • Why can't the money in the Vault be used to participate in the sale?
    To ensure transparency and avoid liquidity risks, the Vault will not count towards the participation amount.

  • How long is the money locked after the sale?
    At least 40 days from the end of the sale.

  • What do I need to do before July 14?
    Prepare money in the main account and complete all deposit and withdrawal transactions before the lock time of 0h on July 14.

  • Does the transaction lock affect investment?
    The transaction lock helps stabilize prices and classify long-term investors, who need to adjust their strategies accordingly.

Source: https://tintucbitcoin.com/xpl-tien-dien-tu-mo-ban-17-7/

Thank you for reading this article!

Please Like, Comment, and Follow TinTucBitcoin to stay updated on the latest news about the cryptocurrency market and not miss any important information!