Predictable fees encourage consistent engagement.

@Plasma $XPL #Plasma
Stablecoins are quietly moving more money than most people think. In 2025 alone, payment volumes have already topped $19.4 billion. But here’s what actually matters: the chains that win aren’t the ones with the biggest price pumps—they’re the ones settling real, daily transfers. Plasma’s been making this case all along. Built from scratch as a Layer 1 for stablecoins, it’s finally showing numbers that tell a different story than the splashy headlines from its launch days.
Think back to the mainnet beta on September 25th: $2 billion in stablecoin liquidity right out of the gate, total value locked peaked above $5.5 billion that first week, and XPL shot up to $1.67. Then came the crash—down 85% to where it sits now, about $0.176. But the network never slowed down. Now, total stablecoin deposits have crossed $7 billion, supplies hold steady around $1.6 billion (with USDT making up more than 80%), and people are still sending tens of thousands of transactions every day. DEX volumes in 24 hours? Around $5 million. Chain fees? Just $400. That’s a sign of real, organic use—not just people farming for yield.
Plasma’s always been about making stablecoins simple to use—not chasing whatever crypto hype is hot. Security comes from a Bitcoin bridge that anchors state roots straight to Bitcoin blocks, so every transfer gets Bitcoin-grade censorship resistance. Developers can drop in Solidity contracts with tools like Foundry or Hardhat, no changes needed, because Plasma is fully EVM-compatible. That’s why more than 100 DeFi protocols launched on day one. Lending? Aave rules the roost with nearly 69% of the market. There are over 25 stablecoins live, connected to 200+ payment methods in 100 countries. This isn’t just another chain—it’s a real global settlement layer.
The gas model is where Plasma really stands out. A protocol-managed paymaster, funded by the Foundation’s XPL stash, completely covers the fees for basic USDT transfers. You pay nothing to send stablecoins. EIP-4337 account abstraction, zkEmail verification, and rate limits keep things fair, so nobody can abuse it. You never need to touch XPL just to move money. For more complex stuff, custom gas tokens like USDT or bridged BTC pay the fees behind the scenes using oracles—users don’t even notice. It feels like digital cash: a freelancer in Manila gets paid by a client in Berlin, instantly, with zero fees or delays.
And the performance? It holds up. PlasmaBFT uses a fast, Rust-based version of HotStuff to push more than 1,000 transactions per second. Blocks clear in under a second, and finality is nearly instant. The November upgrades let block proposals overlap, so the chain keeps moving even when traffic spikes. The Reth execution client brings full EVM compatibility with the speed of Rust, making Plasma ready for big institutional flows that bog down other chains.
Proof of Stake is now live with delegation, creating a flywheel that rewards real activity. Validators stake XPL and earn a starting 5% yield, which drops half a percent each year down to a 3% floor. EIP-1559 burns base fees, so more transactions mean tighter supply. Penalties only cut into future rewards, not the original stake, so more validators keep joining. Delegation lets anyone stake passively, spreading security across the network. The total XPL supply is capped at 10 billion, and 40% is set aside for ecosystem grants—already funding things like Dfns wallets and Nexo’s USDT bridge. On December 25th, another 88.89 million XPL unlocks, and most of it’s heading straight for staking and grants, tying long-term holders even closer to Plasma’s health.
If you want proof that this isn’t just theory, look at Plasma One—the stablecoin-native neobank app that launched in October. Users are earning over 10% on savings, spending with 4% cashback cards, and sending money worldwide for free. The next private beta is adding MiCA-compliant rails from its Italy VASP license and Amsterdam office, cutting out middlemen for European payments and making it easier for regulated institutions to settle on-chain.
In short, Plasma’s story is shifting. Price isn’t the headline anymore.