What is XPL Coin (Plasma)? Plasma Ecosystem and XPL Token Guide

Question

Source: BTCHaberOriginal Title: XPL coin (Plasma) what is it?Original Link: ## Plasma Ecosystem and XPL CoinXPL coin is the cryptocurrency of the Plasma ecosystem. Plasma is an EVM-compatible layer 1 blockchain developed for global stablecoin transfers. The focus is to meet the scalability, speed, and reliability needs required by stablecoins.A layer 1 blockchain like Plasma operates on its own blockchain. This blockchain has been designed with a focus on high volume and low fees. With EVM (Ethereum Virtual Machine) compatibility, developers can leverage known languages such as Solidity, while also benefitting from other EVM-compatible tools.### Plasma FounderPlasma was founded in 2024 by Paul Faecks and Christian Angermayer.### How to Use Plasma?To use Plasma, you first need to connect your cryptocurrency wallet to the Plasma network. Since it is EVM compatible, it has a very simple process for those who are accustomed to using other EVM compatible chains.The main feature of the network is the provision of free USDT transfers. The network operates on a special transfer management system that automatically covers gas fees. This aims to make your stablecoin transfers more efficient, faster, and free of charge whenever possible, using your existing digital wallet.### What is XPL Coin?XPL coin is the cryptocurrency of Plasma. It is responsible for securing the network. It also has an important role in fundamental economic and operational processes. Transaction fees, transfers required for the deployment of smart contracts and computation operations are facilitated by XPL.The PlasmaBFT consensus is used to ensure the security of the network. Users who want to contribute to this consensus must perform validator staking using XPL. In return for staking XPL, they earn various rewards.### XPL Token DistributionThe distribution of the cryptocurrency with a total supply of 10 billion XPL is as follows:- Ecosystem and development: 40%- Team: %25- Investors: %25- Public sale: %10### Purchase XPL CoinTo buy XPL coin, you first need to create an account on a cryptocurrency exchange. You should also complete the identity verification process for the account you created. During the purchasing process, you must have a balance in your wallet. If you do not have a balance, you can choose payment methods such as bank transfer or credit card.After updating your balance, you can purchase the desired amount of assets. In the purchase process:1. You can click on "Buy/Sell" or "Markets" option on the main page of the exchange.You can transition to purchasing by typing XPL in the search section.3. You can start your transaction by clicking the "Buy" button.You can continue the transaction by entering the amount in Turkish lira.5. After checking the balance, you can confirm the transaction.6. In the final step, you can complete your transaction by clicking the "Buy" button.Your cryptocurrency purchase will be processed immediately, and the cryptocurrencies you purchased will be transferred to your account shortly.**Disclaimer:** This article does not contain investment advice or recommendations. Every investment and trading action carries risks, and readers should conduct their own research when making decisions.

MevTears · Accepted Answer

The stablecoin sector is about to heat up again. Whether Plasma's approach is reliable still depends on what happens next.

RektRecovery · Answer

another "stablecoin optimization" layer... yeah, i've seen this movie before. layer 1 for stablecoins specifically? that's just asking for concentrated liquidity risk, ngl. gimme six months.

WhaleWatcher · Answer

Another stablecoin has arrived, it&#39;s really hard to keep up...

NFT_Therapy · Answer

The stablecoin is back, this time aiming at global remittances? Is it real, or just another Layer 1 dream?

ChainChef · Answer

ngl the stablecoin thing sounds half-baked unless they're actually solving liquidity depth issues... what's the raw alpha here tho, layer 1 for stablecoins feels like reheating yesterday's leftovers when we already got solana doing this cheaper

StablecoinArbitrageur · Answer

actually, if you're building a stablecoin-focused L1, you really need to stress-test the liquidity fragmentation across CEX vs DEX pairs. the basis points matter here more than anyone thinks.

Hash_Bandit · Answer

ngl, layer 1 stablecoin chains are kinda the play rn... seen too many mainnet launches tank though. xpl's got the evm compat going for it at least, but that's table stakes now innit

NFTArtisanHQ · Answer

stablecoin layer 1s are just remixing the same old infrastructure narrative tbh... where's the actual aesthetic rupture in this design space? plasma's tackling the mechanics, sure, but the meta-narrative around it feels derivative

PretendingSerious · Answer

Plasma is another new concept; the stablecoin ecosystem indeed needs this kind of chain, but why does it feel like there are more and more of these L1s...