0:00
0:00
Subscribe to Bankless or sign in
Plasma conducted its TGE and launched mainnet beta on Thursday, debuting the XPL token and handing every single pre-deposit ICO participant a surprise ~$10k worth of tokens, even those who never actually bought in.
What’s the Scoop?
- The Launch: Plasma’s mainnet beta went live alongside the XPL token. CEO Paul Faecks called it “just the beginning” of the team’s vision for a stablecoin-first blockchain.
- The Valuation: XPL briefly peaked at $1.54 before settling around $1. That puts its fully diluted valuation at $1oB, a massive jump from the prior $500M valuation that makes XPL the 73rd largest crypto asset by market cap.
- The Bonus: Plasma confirmed it allocated 25M tokens to be split evenly among all pre-depositors, equating to 9,304 XPL. That means whether someone deposited $1 or $10,000, they got the same $10k gift.
- The Investors: Backers include
Tether CEO 
Paolo Ardoino and 
PayPal co-founder Peter Thiel, who are also advising the project.
Even if you deposited $1 into the @PlasmaFDN Pre-Sale you received an additional 9,304 $XPL tokens
— ₿🧞♂️ (@BR4ted) September 25, 2025
The team at Plasma is making sure their small supporters eat
Imagine investing $10 & getting $9,000 in return as a reward for trusting the team
We need more launches like this🫡 pic.twitter.com/nX6odhTzUK
