{"id":31476,"date":"2025-06-12T07:31:51","date_gmt":"2025-06-12T07:31:51","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=31476"},"modified":"2025-06-12T07:31:51","modified_gmt":"2025-06-12T07:31:51","slug":"bitcoin-based-stablecoin-network-plasma-raises-deposit-cap-to-1b-gets-filled-in-30-minutes","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=31476","title":{"rendered":"Bitcoin-Based Stablecoin Network Plasma Raises Deposit Cap to $1B, Gets Filled in 30 Minutes"},"content":{"rendered":"<div>\n<p>Stablecoin-focused blockchain Plasma raised its deposit cap to $1 billion early Thursday \u2014 and hit that limit within 30 minutes.<\/p>\n<p>The new cap marks a doubling from the prior $500 million ceiling, which had itself been raised just days earlier following a community-driven outcry over bot activity and rapid sellout times. <\/p>\n<p>Plasma said the short-notice announcement was designed to give real users, such as those active in its Discord, a fairer shot at joining. But it\u2019s not a token sale just yet.<\/p>\n<p>\u201cDeposits are not the sale itself,\u201d Plasma clarified in a post. \u201cAll funds remain fully owned by depositors and will be bridged to Plasma mainnet beta.\u201d <\/p>\n<p>Participants earn the right to buy into the eventual $50 million XPL public sale based on how many units they\u2019ve locked up by the cutoff. The sale is valued at $500 million on a fully diluted basis.<\/p>\n<p>Earlier this week, the project \u2014 which aims to bring native stablecoin functionality to Bitcoin through an EVM-compatible sidechain \u2014 <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/06\/09\/plasmas-xpl-token-sale-attracts-500m-as-investors-chase-stablecoin-plays\">saw its initial $500 million cap fill in just five minutes<\/a>, according to Arkham data.<\/p>\n<p>That figure was ten times what Plasma initially planned, indicative of massive investor appetite for stablecoin infrastructure.<\/p>\n<p>The team behind Plasma has positioned its chain as a way to sidestep Ethereum\u2019s high fees and congestion by building a zero-gas environment for stablecoin transactions while being anchored to Bitcoin\u2019s security model.<\/p>\n<p>USDT will be the first supported asset, with more expected to follow.<\/p>\n<p><strong><em>Read more:<a href=\"https:\/\/www.coindesk.com\/markets\/2025\/06\/09\/plasmas-xpl-token-sale-attracts-500m-as-investors-chase-stablecoin-plays\"> Plasma\u2019s XPL Token Sale Attracts $500M as Investors Chase Stablecoin Plays<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Stablecoin-focused blockchain Plasma raised its deposit cap to $1 billion early Thursday \u2014 and hit that limit within 30 minutes. The new cap marks a doubling from the prior $500 million ceiling, which had itself been raised just days earlier following a community-driven outcry over bot activity and rapid sellout times. Plasma said the short-notice [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-31476","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/31476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31476"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/31476\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}