Plasma Debuts XPL at Massive Multiple of ICO Price—And Hands Out Millions in Free Tokens

Plasma launched its mainnet beta, debuting the XPL token and distributing millions of dollars worth of free tokens to participants from their ICO earlier this year. Investors who participated in the ICO saw a significant increase in their investments, with XPL peaking at $1.54 before settling at approximately $0.91. This translates to a valuation of $8.6 billion for XPL, reflecting a 17.3x increase from its initial $500 million valuation during the ICO. Plasma also allocated $25.5 million worth of XPL tokens to ICO depositors, distributing 25 million tokens equally among participants regardless of their deposit amounts. CEO Paul Faecks emphasized that the launch marks just the beginning of Plasma's plans, which include optimizing their blockchain for stablecoin payments and launching additional financial products, such as a neobank that will operate on their platform.

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