MADNESS for PLASMA! The 'Stablecoin Blockchain' of #bitcoin ROZA reaches $1,000 MILLION in Deposits in 30 MINUTES
The Fever for Bitcoin Liquidity and Zero Gas is unleashed
#Plasma the innovative blockchain focused on stablecoins that seeks to bring the functionality of stablecoins to Bitcoin through an EVM-compatible sidechain has generated a frenzy of activity once again.
Early Thursday, Plasma increased its deposit limit to $1 billion and reached that figure in just 30 minutes, demonstrating massive appetite for its value proposition.
Deposit Limit Shot Up: Plasma raised its deposit limit to $1 billion (double the previous limit of $500 million, which had already been filled in 5 minutes days before).
Not a Token Sale (Yet): Plasma clarified that the current deposits do not constitute the sale of the token #XPL itself; the funds remain the property of the depositors and will be transferred to the beta of the Plasma mainnet.
Right to Participate in XPL Sale: Participants in the deposits gain the right to participate in the upcoming public sale of XPL (valued at $50 million), proportional to their deposits.
Plasma's Vision: The project aims to offer native stablecoin functionality to Bitcoin through an EVM-compatible sidechain, solving issues like high fees and Ethereum congestion, while anchoring to Bitcoin's security model.
Zero Gas and Initial USDT: Plasma promises a 'zero gas' environment for stablecoin transactions, and USDT will be the first supported asset, with others to come.
Massive Appetite for Stablecoin Infrastructure: The speed at which the deposit limits filled indicates enormous market demand for stablecoin infrastructure.
