In the public token sale of XPL, the platform’s local asset, the plasma successfully raised $500 million in just a few minutes. The highly anticipated launch event was held on June 9 and quickly became one of the biggest public boosts in the cryptocurrency market this year.
According to the plasma chain data and statements, the overwhelming demand for retail and institutional investors in XPL sales is huge. The token product is made through a dispersed launch pad, and the entire allocation is sold out in less than 15 minutes.
Gasoline expenses soared as traders rushed in
The madness of XPL sales around has caused great congestion on the Ethereum network, with some participants reportedly spending more than $100,000 in gas fees to secure their token distribution. Data from Arkham shows that network usage has risen sharply in the sales window, highlighting the strength of demand and highlighting Ethereum’s continued scalability challenges.
Source: Arkham
“This is one of the most competitive sales we’ve ever seen,” commented the core developer of plasma. “We expect interest, but the reality is even beyond our most optimistic predictions.”
The success of XPL sales reflects the growing demand for infrastructure scripts from investors, especially those centered on ZK Technologies. Since privacy and scalability are still two of the biggest bottlenecks in the blockchain industry, platforms such as plasma have attracted people’s interest.
Some analysts compared the breakthrough moments of plasma with those of feature layers and Starkware. Others, however, warn that such a huge pay raise can put a huge pressure on project delivery and maintaining value.
At the time of publication, the secondary market for XPL tokens was not yet open. Community members and investors are now looking closely to see how plasma rolls out its main network roadmap and whether it can sustain momentum with rising expectations.
What is plasma?
Plasma is a next-generation infrastructure project with a focus on scaling zero-knowledge (ZK) applications. The platform provides developer tools and middleware to help build performance modular ZK systems that can be seamlessly integrated across chains. Supported by renowned investors and early partners in the ZK ecosystem, plasma has quickly become the foundational layer for privacy-protected and data-efficient Web3 applications.
XPL tokens are designed to play multiple roles in the plasma ecosystem, including network governance, crediting node security, and incentivizing developers who contribute to open source modules and ZK proofs.
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