Stablecoin-oriented blockchain-startup Plasma’s new on-chain return program with crypto exchange binance attracted $ 250 million to deposits on Wednesday and reached the limit of the facility in less than an hour.
Crypto investors flowed to the offer to get hold of the native token XPL of the Hyped-up chain.
The offer, called the Plasma USDT, was opened on Wednesday at 12:00 UTC on Binance Earn, allowing users to deposit USDT to get daily USDT rewards. In addition to the proceeds, participants will share in a 100 million XPL -Token AirDrop, equal to 1% of the total delivery, after the tokentameration event of the protocol.
The facility was closed at $ 250 million USDT and works on the basis of who comes first, first grinds. Binance said it will follow user balances through daily snapshots to distribute USDT rewards and XPL allocations.
The cap can be raised, Plasma said in an X post.
Plasma is one of the Hyped-Stablecoin-oriented chains and offers cost-free USDT transfers. The project is supported by investors, including Peter Thiel, Tether CEO Paolo Ardoino, Framework Ventures, and has collected $ 373 million in an overs described public token sale. It also attracted $ 1 billion to USDT deposits in June.
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