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Echo, an investment platform founded by well-known crypto trader Cobie, today officially launched its ICO platform Sonar, and the first project to be launched is Plasma, a stablecoin blockchain project. Plasma will sell 1 billion XPL tokens to the public through Sonar, representing 10% of the total supply, with a goal of raising $50 million, corresponding to a valuation of $500 million. The token is priced at $0.05 and the sale lasts for two weeks. Plasma is currently in private beta and the mainnet is scheduled to go live in late summer. Previously, the project has received a total of $24 million in investment from investors such as Peter Thiel, Cobie, and the CEO of Tether, and Founders Fund has recently participated in the form of equity plus token rights. （The Block）