The stablecoin project Plasma officially announced that the XPL public sale will begin on July 17th, and deposits and withdrawals will be locked on July 14th (72 hours before the sale). This is the last chance for users to withdraw, and insurance stock deposits cannot be used for this quota sale. All deposits will remain locked for at least 40 days after the sale.

Plasma previously stated that the $1 billion in raised deposits is not the XPL sale itself, the XPL public sale has not yet started, all funds will be bridged to the Plasma mainnet testnet, and will be fully owned by the depositors, who will participate in the sale based on their final unit ownership at the time of locking. The terms of the public sale remain unchanged: $50.00 million worth of XPL tokens will be sold, with a fully diluted valuation of $500.00 million.

Plasma previously received strategic investment from Peter Thiel's Founders Fund, and announced the completion of $24.00 million in financing (a $20.00 million Series A round and a $4.00 million seed round) in February of this year, led by Framework Ventures, with participation from cryptocurrency trading platform Bitfinex, venture capitalist Peter Thiel, and Tether CEO Paolo Ardoino.