In its documentation, Plasma is described as a Bitcoin sidechain that will use the network as a settlement layer as it attempts to “meet the unique needs of stablecoins.” The public sale will auction off 10% of the supply of XPL via deposits into an Ethereum vault through the recently debuted Sonar token sale platform. By holding funds in the deposit vault, users earn the option to purchase a share of tokens in the future sale, but are not obligated to do so—and they can withdraw their funds at any time. “The meme coin market we experienced in the last year is the same confluence of hype and retail adoption that we saw in the 2017 ICO boom,” Teixeira told Decrypt.
Author: Ryan Gladwin
Published at: 2025-06-09 20:56:52
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