Plasma, a Layer 1 stablecoin payment project backed by Bitfinex, launched its mainnet Beta on September 25, 2025. The launch integrates over 100 DeFi protocols, including Aave, Ethena, Fluid, and Euler. The project attracted significant attention by offering a $8,390 XPL airdrop for a mere $0.1 deposit, distributing 25 million XPL tokens to pre-deposit users. Each participant received the same reward, irrespective of deposit size. Plasma also introduced Plasma One, a stablecoin-based banking product aimed at emerging markets, featuring fee-free USDT transfers and cashback rewards. The ecosystem has seen rapid growth, with total value locked (TVL) reaching $40 billion within 24 hours and stablecoin supply surpassing $70 billion in two days. The XPL token has a total supply of 10 billion, with 18% currently in circulation.