What is XPL coin (Plasma)?

Question

Source: BTCHaberOriginal Title: What is XPL coin (Plasma)?Original Link: ## XPL Coin and the Plasma EcosystemXPL coin is the cryptocurrency of the Plasma ecosystem. Plasma is an EVM-compatible layer 1 blockchain developed for global stablecoin transfers. Its focus is to meet the scalability, speed, and reliability needs required by stablecoins.As a layer 1 blockchain, Plasma operates on its own blockchain. This blockchain has been developed with a focus on high volume and low fees. With EVM (Ethereum Virtual Machine) compatibility, developers can benefit from well-known languages like Solidity and also leverage other EVM-compatible tools.## Plasma FoundersPlasma 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, the process is quite simple for those accustomed to using other EVM-compatible chains.It is also aimed to provide free USDT transfers for eligible transactions. The network operates on a special transfer manager system that automatically covers gas fees. Thus, the goal is to make your stablecoin transfers more efficient, faster, and if possible, free, using your existing digital wallet.## XPL Coin FunctionXPL coin is the cryptocurrency of Plasma and is tasked with securing the network. It also plays an important role in core economic and operational processes. Transaction fees, smart contract deployment, and transfers required for computation operations are facilitated with XPL.To ensure network security, PlasmaBFT consensus is used. Users who wish to contribute to this consensus must stake as validators using XPL. In return for staking XPL, they earn various rewards.## XPL Token DistributionThe total supply of the cryptocurrency is 10 billion XPL, distributed as follows:- **Ecosystem and development:** 40%- **Team:** 25%- **Investors:** 25%- **Public sale:** 10%## Important NoteThis article does not contain investment advice or recommendations. Every investment and trading action involves risk, and readers should do their own research when making decisions.

GasOptimizer · Accepted Answer

Another layer 1? Has the gas fee model data been released? Can it beat Arbitrum's gas costs? Just talking about the stablecoin ecosystem is useless; we need to look at the real on-chain activity fee structure. That's the KPI that determines life or death.

TokenomicsTrapper · Answer

lol another "stablecoin focused layer 1" — actually if you read the tokenomics, vesting unlocks in q3 and classic exit pump pattern incoming fr

down_only_larry · Answer

What is this new coin plasma? These days there are so many layer1s, it's overwhelming. Let's talk when they actually deliver something.

SingleForYears · Answer

Is Plasma here to fleece retail investors again? The stablecoin ecosystem is really too murky.

SelfSovereignSteve · Answer

Is Plasma up to something new again? Is there any solid stuff in the stablecoin layer...

BetterLuckyThanSmart · Answer

Plasma sounds pretty impressive, but can it actually run in practice?

SignatureVerifier · Answer

ngl, "layer 1 for stablecoins" is just layer 2 with extra steps... show me the actual settlement guarantees before i take this seriously. technically speaking, insufficient validation on their security model tbh

DaisyUnicorn · Answer

Another stablecoin solution—there sure are a lot of variations. Wait, an EVM-compatible L1 specifically for stablecoins? That feels a bit odd...