<ul><li>Plasma raised $500 million in under an hour through a stablecoin offering on Sonar by allowing users to deposit stablecoins into its vaults in exchange for early rights to purchase the project's native token, XPL.</li><li>The offering started at 9:00 a.m. ET with each participant capped at $50 million per wallet. Plasma met its goal of selling 10% of its total XPL token supply and raised $500 million successfully.</li><li>The vault now holds $345 million in USDC, $146.1 million in USDT, $7.5 million in USDS, and $1.21 million in DAI.</li><li>Plasma's rapid raise highlights the increasing interest in stablecoin-related projects within venture capital firms, institutional players, and tech giants, indicating growing confidence in stablecoin infrastructure in the crypto economy.</li></ul>

Plasma Raises $500 Million in Under an Hour Through Stablecoin Offering on Sonar

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