In most major crypto markets, XPL refers to the native token of the Plasma blockchain — a Layer 1 network designed for stablecoins and fast, low-cost transactions, with additional support for smart contracts.
Plasma aims to be a stablecoin-centric blockchain that combines:
High throughput and near-zero fees for stablecoin transfers.
Proof-of-stake consensus with validators securing the network via staking.
EVM compatibility, making it friendly for developers familiar with Ethereum-style smart contracts.
In this ecosystem, $XPL is the key crypto asset, much like:
ETH on Ethereum,
SOL on Solana,
BTC on Bitcoin’s network.
2. XploraDEX’s XPL — A Different Token on the XRP Ledger
There’s also another XPL token associated with XploraDEX, a decentralized exchange (DEX) built on the XRP Ledger (XRPL) and integrated with AI trading tools.
This version of XPL is marketed as a utility and governance token within the XploraDEX ecosystem, offering:
Access to AI-powered trading tools,
Staking rewards,
Liquidity incentives,
Governance voting rights.
Key Functions & Utility of Plasma’s XPL
For Plasma’s version of XPL, the token has several core purposes:
🔹 Gas & Network Fees
All non-stablecoin operations — like smart contract interactions — require XPL as gas to process transactions.
🔹 Validator Staking & Security
Validators must stake XPL to help secure the network. In return, they earn inflation rewards and transaction fees for maintaining consensus.
🔹 Rewards & Incentives
The token is used to incentivize participation and liquidity in the ecosystem — including future staking and delegation mechanisms.
Supply & Tokenomics (Plasma’s $XPL)
According to available information:
Total supply: 10 billion XPL tokens.
Allocation examples: Ecosystem incentives, developer allocations, staking rewards, and validator incentives are structured to support long-term growth.
Circulating supply: A portion (around ~18%) was in circulation at launch.
Unlock schedules and vesting periods help manage token inflation over years following launch.
