Plasma, a next-generation blockchain purpose-built for stablecoins, is proud to announce its upcoming public sale, which will be conducted using Sonar, the new token sale infrastructure by Echo. Echo, founded by the well-known crypto figure Cobie, has long been a market leader in private investment infrastructure for early-stage projects. With the launch of Sonar, Echo is expanding into public sales, and Plasma will be the very first project to utilize this cutting-edge platform. This partnership reflects Plasma’s commitment to transparency, alignment, and participation from its earliest users, developers, and institutions, ensuring that the network grows in a decentralized and community-driven way.
At its core, Plasma is not just building infrastructure; it is laying the foundation for a global financial system optimized for stablecoins. While robust architecture is critical, what truly defines a successful blockchain is the participation and engagement of its community from day one. The XPL token plays a central role in this system, securing the PlasmaBFT consensus mechanism, powering execution through its Reth-based Ethereum Virtual Machine (EVM), and underpinning a trust-minimized Bitcoin bridge. The upcoming public sale represents the first opportunity for participants to acquire XPL tokens and actively contribute to scaling and shaping the network from its inception.
The structure of the public sale has been carefully designed to reflect Plasma’s vision of equitable participation. A total of 10% of the XPL supply will be offered, priced at a $500 million fully diluted network valuation, consistent with the valuation established during Plasma’s recent equity raise led by Founders Fund. Participation is based on deposits of stablecoins—USDT, USDC, USDS, or DAI—into the Plasma Vault on Ethereum. Allocations are determined by a time-weighted share of total vault deposits, rewarding long-term commitment rather than speed or insider access. Once deposits close, vault positions are locked, and when Mainnet Beta launches, the vault positions are bridged to Plasma, tokens are distributed, and deposits become withdrawable. This system emphasizes contribution, alignment, and community engagement over traditional methods that often prioritize early access or financial leverage.
The public sale will follow a clear, structured process to ensure transparency and security. During the deposit period, participants can deposit stablecoins into the Plasma Vault, which are actively deployed into DeFi protocols like Aave and Maker using Veda’s audited vault contracts, which currently manage over $2.6 billion in total value locked (TVL). Depositors earn units reflecting their time-weighted share of total deposits, which in turn determines their guaranteed allocation in the XPL sale. Withdrawals are allowed during this phase but reduce earned units proportionally, reinforcing the system’s focus on long-term commitment. The deposit cap will initially be set at $100 million and may increase over time, with the deposit period expected to last several weeks.
Following the deposit period, the vault enters a lock-up phase, lasting at least 40 days post-sale, during which all deposits are converted to USDT in preparation for bridging to Plasma Mainnet Beta. This ensures operational simplicity and readiness for token distribution. The public sale itself is executed via the Plasma platform, with Sonar handling compliance measures such as KYC, identity verification, and jurisdictional filtering, while Plasma manages the allocation, token distribution, and fund handling. Participants may purchase their guaranteed allocation or commit additional funds for a chance to acquire unclaimed tokens pro rata. US participants are required to verify their accredited investor status, and any purchased XPL will be locked for 12 months post-sale, reflecting regulatory compliance.
Security and compliance are central to Plasma’s approach. The pre-launch vault infrastructure is built with Veda, audited by Spearbit, and will undergo further audits by Spearbit and Zellic before Mainnet Beta. All final audit reports will be publicly available, ensuring trust and transparency for participants. On the compliance front, Sonar provides jurisdictional screening, KYC verification, accreditation checks, and wallet association validation to meet legal requirements and maintain participant integrity. These measures ensure that the public sale is not only accessible and fair but also legally compliant and secure.
Looking forward, the deposit period is set to open in two weeks, providing ample time for participants to connect their wallets, deposit stablecoins, and start earning units. Plasma will work closely with Sonar, Veda, and its community to clarify mechanics, answer questions, and guide participants through the process. By combining robust technical infrastructure with an innovative, community-focused public sale model, Plasma is redefining how stablecoin-powered networks are launched and distributed. This sale represents not just a funding event but a historic opportunity for early participants to shape the future of a blockchain designed to move money efficiently, securely, and transparently on a global scale.
Plasma’s public sale embodies its mission to build a stable, scalable, and inclusive financial system. Through strong partnerships, rigorous security, and thoughtful community engagement, Plasma is poised to establish a new standard for stablecoin adoption and decentralized finance innovation. With XPL as the backbone of the network, participants have the opportunity to be part of a system that bridges traditional finance with the transparency, efficiency, and reliability of blockchain technology.
