A Layer1 project has recently made a big move—Plasma, a high-speed blockchain focused on stablecoin payments and settlements, has attracted a lot of attention due to its unique technical design and ecosystem layout.

The core positioning of this project is very clear: to build a global financial infrastructure with zero fees and instant settlement. It sounds ambitious, but it indeed has some real technical strengths. The PlasmaBFT consensus mechanism can achieve over 1000+ TPS, with transaction confirmation speeds soaring, and importantly, it supports USDT zero-fee transfers—this is a major killer for stablecoin use cases, significantly reducing circulation costs. As an EVM-compatible network, dApps on Ethereum can seamlessly migrate over, and it also reuses the security features of Bitcoin sidechains, making the architecture quite interesting.

The ecosystem has already been laid out. Leading DeFi protocols like Aave, Curve, and Pendle are all deployed there, and they’ve also launched Plasma One, a stablecoin digital bank, with plans for RWA asset tokenization. The most impressive data is that on-chain stablecoin lending utilization has reached 97%, and TVL growth is quite rapid. The dual fuel fee mechanism allows users to pay transaction fees with project tokens or USDT, effectively lowering the user entry barrier.

In terms of funding, the project has raised over $400 million, backed by top institutions—Peter Thiel’s Founders Fund, Bitfinex, Framework Ventures, and others. The public fundraising valuation in 2025 is estimated at $500 million, with market subscriptions exceeding the target by 7 times, indicating strong market expectations for this sector. The total supply of project tokens is 10 billion, with 40% allocated for ecosystem incentives, using a decreasing inflation and burn mechanism to balance supply and demand.