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Plasma's vault model allows participants to deposit stablecoins in exchange for the option to purchase XPL tokens in a future sale, with no immediate token issuance and full withdrawal flexibility

Plasma's ICO originally had a $250 million deposit cap, which was doubled to $500 million mid-sale after the initial vault filled within moments

Plasma's vault raise drew over 1,100 participating wallets, with an average stablecoin deposit of approximately $35,000

Plasma, a Layer 1 blockchain for stablecoin backed by Tether, completed a $500 million stablecoin vault raise in under an hour

Plasma’s ICO, conducted on Sonar, the ICO arm of Cobie’s Echo platform, follows a $24 million funding round in February 2025

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