Binance announced its 44th project on the HODLer Airdrops portal ahead of listing the project on the exchange – Plasma (XPL) – a platform that promises to redefine how money works and create a stablecoin infrastructure for a new global financial system.
The crypto exchange created the HODLer Airdrops portal to reward users retroactively based on historical snapshots of their BNB holdings.
Binance announced that users who subscribed their BNB to Simple Earn (Flexible and/or Locked) and/or On-Chain Yields products from September 10 at 00:00 (UTC) until September 13 at 23:59 (UTC) are eligible for the airdrop.
What is Plasma (XPL)?
Plasma is a high-performance L1 built for stablecoins that offers:
- Near instant, fee-free payments
- Institutional-grade security
- Over 1,000 TPS
- Under 1-second block times
- Over 15 supported stablecoins
- Over $1 billion in stablecoin deposits
The platform is the 6th network by USDT balance, is available in over 100 countries, offers over 100 currencies, and has more than 200 payment options.
Plasma is backed by important names in the industry like Bitfinex, DRW, Flow Traders, and others. The project has over 50 partners.
The Plasma mainnet will go live with more than $2 billion in liquidity, making it the 8th largest chain by stablecoin supply.
Project Goals
Plasma says that the project’s goals include the following:
- Bringing trillions of dollars onchain
- Unlocking an open and programmable layer for money
What is XPL?
XPL is the native token of the blockchain and the core asset that secures the Plasma system.
XPL has the following uses in the ecosystem:
- Safeguards the integrity of the new infrastructure
- Aligns long-term incentives as stablecoin adoption scales
- Facilitates transactions
- Rewards users who support the network by validating transactions
- It is designed to scale Plasma’s reach beyond crypto audiences and into traditional financial institutions and legacy systems
XPL was built as a foundational asset with opportunities that drive the ecosystem expansion in original ways.
The initial XPL supply will be 10 billion tokens at the mainnet beta launch, with programmatic increases.
The XPL allocation is as follows:
- 10% of the tokens go to the public sale.
- 25% go to investors.
- 40% is set for the ecosystem and the project growth.
- 25% is set aside for the project team.
XPL will go live on September 25, and Binance is among the exchanges that will list the token.
Binance XPL Listing Details
In its official announcement, Binance revealed that it will open trading for XPL on September 25 at 13:00 (UTC) and will open trading for the following pairs:
- XPL/USDC
- XPL/USDT
- XPL/BNB
- XPL/FDUSD
- XPL/TRY
XPL will be listed with Seed Tag, signaling potential volatilty for the project, and ahead of its launch on the main exchange, it will be listed on Binance Alpha – the platform created to highlight early-stage projects that have growth potential in Web3.
Users can already start depositing XPL on September 24 at 10:00 (UTC).
