The Plasma project raised $373 million in the token sale, exceeding the plan sevenfold
Date: 2025-07-29 Author: Henry Casey Categories: BUSINESS
The Plasma blockchain network, specializing in stable cryptocurrencies, successfully completed the token sale, raising $373 million - this is more than seven times more than the intended goal of $50 million. Oversubscription of $323 million allowed to redistribute part of the unsold XPL tokens in the amount of $209,000. Representatives of the project reported that the token launch will take place within 40 days, and the return of funds invested in excess of the limit will be made in the near future.
The team also announced the launch of the beta version of the Plasma mainnet, in which the total volume of locked stablecoins (TVL) will be $1 billion. This will be the fastest achievement of such a TVL level in the history of the blockchain industry. These funds were raised back in June through user deposits, which in turn provided the right to purchase XPL tokens.
After the mainnet launch, users will have full access to their funds and will be able to use the tokens without restrictions. The exception will be the territory of the United States: there, the tokens will remain frozen for one year in accordance with local regulations.
Plasma is an EVM-compatible sidechain for Bitcoin, designed to provide instant and free transactions in USDT. The project previously received $3.5 million in investments in a round led by Bitfinex, as well as $20 million in Series A, in which the venture fund Founders Fund, founded by Peter Thiel, participated.
Amid the success of Plasma, one can recall the recent token sale of the Pump.fun project, during which $500 million was raised. However, shortly after the completion of the placement, the PUMP token collapsed below its starting price.
Thus, Plasma managed not only to attract the attention of the crypto community, but also to set a new record for the speed of reaching the billion-TVL mark, which indicates a high level of investor confidence and significant interest in solutions in the field of stable digital assets.
