What Plasma Coin Is
Plasma is the native token (XPL) of the Plasma blockchain — a layer-1 blockchain (its own base network) focused on fast, low-fee stability for stablecoin transactions. The network supports smart contracts and tools from the Ethereum ecosystem, making it easy to build apps for finance and DeFi (decentralized finance).
What the XPL Token (Plasma Coin) Is Used For
The Plasma coin (XPL) has several key roles:
Gas/Fees: Used to pay for transaction and network activity fees (though many stablecoin transfers on Plasma can be subsidized or free).
Network Security: XPL can be staked (locked up) to help secure the network and earn rewards.
Governance & Incentives: It may be used in voting on protocol changes and to incentivize developers and users in the ecosystem.
Price & Market Cap: XPL is actively traded and ranked among cryptocurrencies, with market data available on sites like CoinMarket.
Zero or Low Fees: Plasma focuses on reducing or eliminating fees for stablecoin transfers.
High Performance: It can handle many transactions quickly, making it useful for global payments and remittances.
Cross-Chain Connectivity: Plasma plans features like bridges to Bitcoin so assets can move between networks securely.
Plasma has been listed on exchanges and has had public trading pairs like PLASMA/USDT start trading in 2025.
Partnerships and apps related to stablecoin payments and finance on Plasma are also under development.