Plasma doubles stablecoin deposit limit

• Plasma raises deposit limit for stablecoins to $1 billion
• XPL Token Public Sale to be $50 Million
• Plasma project budget set at US$500 million

Plasma has announced that it has increased its stablecoin deposit limit to $1 billion, after quickly reaching its previous cap of $500 million. The new limit was reached in just 30 minutes, demonstrating the high interest from the community. Deposits are tied to the possibility of future participation in the sale of the platform’s native token, XPL.

Today we raised the deposit cap to $1 billion, which filled within ~30 minutes.

One of our main goals for the XPL sale is broad participation. After the initial deposit period, we heard from community members who had trouble joining and felt that snipers and bots had too much… pic.twitter.com/eMct9d9QlW

— Plasma (@PlasmaFDN) June 12, 2025

According to the company, the expansion of the limit was motivated by the intention to allow more users to have access to the opportunity, especially those who were unable to enter in the previous round. “We heard reports from community members who had difficulty participating and felt that snipers and bots had too much time to prepare,” highlighted the Plasma team in a post on the X platform.

Despite the heavy capital movement, Plasma made it clear that the deposits do not represent a public sale of the token. According to the company, the public sale phase of XPL will still take place, with $50 million worth of tokens offered at a fully diluted valuation (FDV) of $500 million. “All funds will be transferred to the Plasma mainnet beta and will remain fully owned by the depositors,” the team added.

Users who participate in the deposits will be given priority in the public sale, based on the final units held at the time of locking the funds.

Today we raised the deposit cap to $1 billion, which filled within ~30 minutes.

One of our main goals for the XPL sale is broad participation. After the initial deposit period, we heard from community members who had trouble joining and felt that snipers and bots had too much… pic.twitter.com/eMct9d9QlW

— Plasma (@PlasmaFDN) June 12, 2025

Data from Arkham indicates that Plasma’s vault currently holds around $558 million in USDC, $396 million in USDT, $16,6 million in USDS, and approximately $3,4 million in DAI.

The project has gained notoriety after being selected as the first launch of the Sonar ICO platform, created by Echo — the investment arm founded by Jordan Fish (Cobie). Plasma operates as an EVM-compatible Bitcoin sidechain focused on eliminating fees for the use of USDT. The project has already raised $3,5 million in a round with participation from Bitfinex and an additional $20 million in a Series A.