Plasma: The XPL public sale will start on July 17, with deposits and withdrawals being locked on July 14.

By: theblockbeats.news|2025/07/10 23:54:01

BlockBeats News, July 10th, the stablecoin project Plasma officially announced that the XPL public sale will start on July 17th, and deposits and withdrawals will be locked on July 14th (72 hours before the sale). This is the final withdrawal opportunity for users, and the reserve deposits cannot be used for this round of sale. After the sale ends, all deposits will remain locked for at least 40 days.

The stablecoin project Plasma previously stated that the $1 billion raised in deposits is not for the XPL sale itself, and the public sale of XPL has not yet begun. All funds will be bridged to the Plasma mainnet testnet and fully owned by depositors. Depositors will participate in the sale based on the final unit ownership at the time of the lock. The public sale terms remain unchanged: 50 million XPL tokens will be sold, with a fully diluted valuation of $5 billion.

Plasma previously received a strategic investment from Founders Fund under Peter Thiel and announced in February of this year that it had completed a $24 million funding round ($20 million Series A and $4 million seed round), led by Framework Ventures, with participation from the cryptocurrency exchange Bitfinex, venture capitalist Peter Thiel, and Tether CEO Paolo Ardoino.

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