XPL is the native cryptocurrency of the Plasma blockchain — a new Layer-1 network built to enable high-volume, low-cost stablecoin transactions and decentralized finance (DeFi) functions. It’s similar to how ETH is used on Ethereum: it powers the blockchain’s core economic and security systems.
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Key Uses of XPL
1. Transaction Fees (Gas):
XPL is used to pay for transactions and smart contract execution on the Plasma network (like gas on Ethereum).
2. Network Security & Staking:
XPL supports the blockchain’s proof-of-stake consensus. Validators stake XPL to secure the network and earn rewar
In many systems like Plasma, holders may eventually use XPL to vote on changes or upgrades.
📊 Token Details
Blockchain: Plasma (Layer-1) — EVM-compatible and optimized for stablecoins.
Total Supply: 10 billion XPL tokens at launch.
Circulating Supply: Around 1.8 billion at mainnet launch (September 2025).
Distribution: Public sale, ecosystem growth pool, team & investors with vesting schedules.
Plasma is a blockchain designed to make stablecoin transfers cheap and fast, combining features such as:
✔ Zero-fee transfers for stablecoins like USDT via a “protocol paymaster” mechanism.
✔ EVM compatibility — so Ethereum-style apps and tools work on Plasma.
✔ Scalable throughput and Bitcoin security via sidechain design (according to some reports).
📉 Recent Market Dynamics
After it launched on major exchanges like Binance and OKX, XPL saw high initial interest and a market cap above $2 billion. However, due to lower network usage and fading hype, the price dropped significantly after its debut.