2 hours ago
Stablecoin-focused blockchain startup Plasma's caller on-chain output programme with crypto speech Binance attracted $250 cardinal successful deposits connected Wednesday, reaching the facility's bounds successful little than an hour.
Crypto investors flocked to the offering to get their hands connected the hyped-up chain's autochthonal token XPL being offered arsenic rewards.
The offering, called the Plasma USDT Locked Product, was opened connected Wednesday astatine 12:00 UTC connected Binance Earn, allowing users to deposit USDT to get regular USDT rewards. Alongside the yield, participants volition stock successful a 100 cardinal XPL token airdrop, equivalent to 1% of full supply, aft the protocol’s token procreation event.
The installation was capped astatine $250 cardinal USDT and operates connected a first-come, first-served basis. Binance said it volition way idiosyncratic balances done regular snapshots to administer USDT rewards and XPL allocations.
The headdress whitethorn beryllium raised, Plasma said successful an X post.
Plasma is 1 of the hyped stablecoin-focused chains, offering fee-free USDT transfers. The task is backed by investors including Peter Thiel, Tether CEO Paolo Ardoino, Framework Ventures, and raised $373 million successful an oversubscribed nationalist token sale. It besides attracted $1 cardinal successful USDT deposits successful June.
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