{"id":39152,"date":"2025-07-28T14:47:04","date_gmt":"2025-07-28T14:47:04","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=39152"},"modified":"2025-07-28T14:47:04","modified_gmt":"2025-07-28T14:47:04","slug":"stablecoin-focused-bitcoin-sidechain-plasma-draws-373m-in-oversubscribed-token-sale","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=39152","title":{"rendered":"Stablecoin-Focused Bitcoin Sidechain Plasma Draws $373M in Oversubscribed Token Sale"},"content":{"rendered":"<div>\n<p>Stablecoin-focused blockchain Plasma has closed its public token sale with $373 million in commitments, more than seven times the <a href=\"https:\/\/www.coindesk.com\/business\/2025\/07\/17\/plasma-looks-to-raise-usd50m-from-token-sale-with-valuation-of-usd500m-for-evm-compatible-sidechain\">$50 million it was targeting.<\/a><\/p>\n<p>The sale, according to available data, has led to an oversubscription of around $320 million looking to get around $209,000 worth of XPL that weren\u2019t purchased. The token\u2019s launch is <a href=\"https:\/\/x.com\/OlimpioCrypto\/status\/1949828735340786027\">expected<\/a> to occur within 40 days, while refunds for overcommitted funds will be processed in the near future.<\/p>\n<p>At launch, the Plasma network will<a href=\"https:\/\/www.coindesk.com\/markets\/2025\/06\/12\/bitcoin-based-stablecoin-network-plasma-raises-deposit-cap-to-1b-gets-filled-in-30-minutes\"> hold $1 billion in stablecoins, <\/a>becoming the fastest blockchain to reach that figure, according <a href=\"https:\/\/x.com\/PlasmaFDN\/status\/1949826471238783140\">to the project<\/a>.<\/p>\n<p>Plasma, an Ethereum Virtual Machine (EVM)-compatible Bitcoin sidechain, aims to provide fee-free stablecoin transfers, starting with Tether\u2019s USDT.<\/p>\n<p>Plasma enters a competitive market dominated by Tron and Ethereum, which settles billions in stablecoin transfers daily and has seen Tether itself <a href=\"https:\/\/www.coindesk.com\/web3\/2025\/07\/12\/tether-to-halt-usdt-on-omni-bch-kusama-eos-algorand-as-focus-shifts-to-layer-2s\">shift its focus to Layer 2s.<\/a> It has secured funding from notable investors including Peter Thiel\u2019s Founders Fund, Framework Ventures, and Bitfinex.<\/p>\n<p>U.S. investors face a 12-month lock on their tokens, but for the rest of the world, XPL will be unlocked at launch.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Stablecoin-focused blockchain Plasma has closed its public token sale with $373 million in commitments, more than seven times the $50 million it was targeting. The sale, according to available data, has led to an oversubscription of around $320 million looking to get around $209,000 worth of XPL that weren\u2019t purchased. The token\u2019s launch is expected [&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-39152","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\/39152","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=39152"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/39152\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}