Blockchain project Plasma is set to launch its mainnet and XPL token on September 25, 2025, with an initial Total Value Locked (TVL) of $2 billion. The platform's TVL will be distributed across over 100 DeFi protocols, including Aave, Ethena, Fluid, and Euler. Plasma aims to become the eighth largest blockchain by stablecoin liquidity, offering fee-free USDT transfers through its network interface. The project raised $373 million in a public sale of XPL, surpassing its $50 million target. Plasma, an EVM-compatible Bitcoin sidechain, has attracted $3.5 million in investments led by Bitfinex and $20 million in a Series A round with Founders Fund. The launch occurs amid growing competition in the stablecoin payment network sector, with companies like Stripe and Circle also developing similar initiatives.