Plasma allows gasless transfer of stablecoins for end-users. In other words, it allows zero-fee transfers only for simple USDT sends and receives.
However, more complex transactions, such as deploying contracts or decentralized applications, require XPL to be paid as gas, or a portion of stablecoins to be converted to XPL as fees, according to Delphi Digital's explainer.
Early this week, Plasma launched Plasma One, a stablecoin-native neobank with the aim of providing users with permissionless access to spending, earning, and saving digital dollars.
Tokenomics
XPL is the native token of the Plasma blockchain, analogous to ETH on Ethereum and SOL on Solana. XPL serves as the gas token for transactions & smart contract execution, the staking asset securing the network, and the reward token for validators.
The XPL token has a fixed total supply of 10 billion tokens. Of this, 40%—equaling 4 billion tokens—is allocated for ecosystem and growth initiatives. At launch, 8% of the total supply (800 million tokens) will be unlocked from this ecosystem allocation to support initial activities such as liquidity provision and partn.
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