Pro
Plasma Launch
We view Plasma as operating two distinct businesses:
- A generalized chain for stablecoin DeFi
- A remittance and payments business
Stablecoin DeFi
The current circulating supply of XPL is just under 18%, giving it a circulating market cap of $2.2B. About 8% of this supply comes from the ecosystem growth fund, used to incentivize lending, borrowing, and other DeFi activity. The remaining ~10% comes from the public sale. US participants received about 13M XPL tokens from that sale, which are locked for 12 months.
At current prices, the 8% ecosystem growth fund represents $800M in incentives. The chain is therefore heavily incentivized, as shown on rewards.plasma.to.
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