$XPL is the main token of Plasma, a blockchain built for stablecoins. It helps secure the network, pay for certain transactions, and take part in decisions. Validators lock XPL to run the network and earn rewards.
Plasma allows some stablecoin transfers with zero fees, making it easy for everyday use. The total supply of XPL started at 10B tokens. Some were released to the public, partners, and early projects, while many are still locked to keep balance in the market.
XPL had a strong start in the market, but future token unlocks can affect price. XPL is also used in other Plasma systems like credit tools. Plasma follows stablecoin rules while growing its network.