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Plasma is an EVM-compatible L1 network designed specifically for stablecoins. Built as a Bitcoin sidechain, it delivers scalability, decentralization, and enhanced security while enhancing the user's on-chain experience by introducing zero-fee $USDT transactions.
$XPL is a native token of the platform, used for powering the security of its Bitcoin bridge and blockchain network.
On June 9th, 2025, it is set to launch a $XPL IDO round on Sonar launchpad - a new platform introduced recently by the Echo launchpad team.
CoinLaunch Score:
Last update:
Medium
06 Jun 2025
Plasma Blockchain - IDO on Sonar Launchpad Overview
start date:
09 Jun 2025
end date:
25 Sep 2026
price:
N/A
tokens for sale:
N/A
Raise:
$50,000,000
Min. Buy:
N/A
Max. Buy:
N/A
Industry:
Stablecoin
Sonar Crypto Launchpad
How to join Plasma Blockchain - IDO on Sonar Launchpad?
According to the recent Plasma sale announcement, the $XPL IDO on Sonar is set to occur in four main phases:
- Deposit period
Starting from June 9th, 2025, you have to acquire $USDT, $USDC, $USDS, or $DAI on the Ethereum mainnet, and deposit those coins into the Plasma Vault on the Veda protocol (link isn’t available yet). The pool is designed with the initial hardcap of $100M and will increase over time.
This way, you will earn “units” per stablecoin held in the pool. Units will play a major role in determining your potential allocation for the $XPL sale, which means the more stablecoins you deposit and the longer you hold them in the vault, the larger your allocation will be. However, if you deposit funds and then decide to withdraw them, the amount of points will be decreased proportionally.
Currently, the exact deadlines for farming points aren’t set.
2. Lock-up phase
After the deposit phase, the Plasma’s vault will be locked up for any deposits or withdrawals for a minimum of 40 days, preparing to be converted into $USDT and bridged to the Plasma Mainnet Beta.
3. Public sale
Once the bridge of funds ends, the public sale takes its place. There, you have to visit the Sonar launchpad page (link isn’t available yet) and complete KYC verification. Your allocation will determine the share of units you managed to farm during the deposit period.
However, you can also oversubscribe to the sale pool to potentially receive allocation from those users who got an allocation but didn’t deposit stablecoins in time.
4. Distribution phase
In this phase, you will receive $XPL tokens and will be able to withdraw unused $USDT from the Plasma chain. The US investors will receive their allocations 12 months after the public sale concludes.
Good Luck! 🍀
Step-by-step Guide
Get $USDT, $USDC, $USDS, or $DAI on the Ethereum mainnet in your wallet;
Explore four stages of the sale in the “How to participate” block;
Deposit funds into the Plasma vault on the Veda protocol to farm units;
Wait for the start of stage 3 - public sale and subscribe to the $XPL sale on the Sonar launchpad;
Get your $XPL tokens and stablecoins on the Plasma chain.
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