Plasma (XPL) is a specialized Layer-1 blockchain launched in 2024–2025, purpose-built for high-speed, zero-fee stablecoin payments using a
PlasmaBFT consensus mechanism. It offers <1s transaction finality, EVM compatibility, and anchors to Bitcoin for security. The XPL token is used for staking, governance, and securing the network. Designed as a "stablecoin-first" infrastructure for global payments, allowing users to send USDT with zero fees.
Uses a Paymaster system that allows users to pay gas fees with stablecoins (like USDT) instead of the native token. It is compatible with Ethereum Virtual Machine (EVM) tools.Achieves sub-second finality and utilizes a trust-minimized Bitcoin bridge.
Tokenomics: The native token is XPL, with a total supply of 10 billion tokens and a circulating supply of approximately 1.8 billion as of early 2026.
Founders & Backers: Founded by Paul Faecks and Christian Angermayer, with support from investors like Bitfinex and Founders Fund.
Use Cases: Primarily focuses on instant, low-cost remittances, DeFi, and stablecoin transactions.