Binance has rolled out a new investment product called the Plasma USDT Locked Product under its Simple Earn On-Chain Yields line. This new offering allows users to earn stable returns on their USDT while also getting access to an airdrop of Plasma’s native token, XPL.
The product was met with immediate high demand, with the initial subscription limit of 250 million USDT being filled quickly after its launch. Binance noted that the campaign is designed to blend on-chain yield strategies with the user-friendliness of a centralized exchange.
A total of 100 million XPL tokens, which represents 1% of Plasma's total supply, have been allocated for the airdrop. These tokens will be distributed to participants after the project’s Token Generation Event (TGE), though a specific date has not yet been announced.
Plasma, a project backed by Bitfinex, is a stablecoin-focused Layer 1 blockchain designed for high transaction volumes and low fees. Its goal is to build a scalable infrastructure for transferring dollar-based digital assets, positioning it to compete with other payment-focused chains.
This new product is part of Binance's broader effort to expand its on-chain yield offerings, providing users with a way to earn stable returns while gaining exposure to new and emerging blockchain projects. The crypto community is now watching to see if Plasma can deliver on its promise of a scalable and cost-efficient network.
August 2025, Cryptoniteuae