I have been studying the @PlasmaFDN for a long time, and this time I am ready to stud it. 1. What is Plasma? Plasma is a new blockchain explicitly built for stablecoins. It aims to solve the problems of high fees, slow speeds, and poor user experience that Ethereum and Tron experience when transferring stable assets such as $USDT. The world has been suffering for a long time. 2. Background of Plasma The $3.5M seed round in October 2024 included investors such as Peter Thiel, Paolo Ardoino (CEO of Tether), and Cobie The Series A funding round ($20.5M) was led by Framework Ventures and Bitfinex, including Bybit, 6th Man Ventures, Flow Traders, and Laser Digital The summary is that Bitfinex and USDT are strongly supported 3. Project prospects I'll just say a few keywords, the U.S. Stablecoin Act passed, and Americans can participate in the project, but it needs to be locked for 12 months. Circle. If Plasma can deliver on its promise and capture a small slice of the stablecoin settlement market, it would be easy to spot FDV in the $2.5B–$5B range after launch 4. Public sale information The public offering will be conducted through Sonar by Echo, providing a 10% supply of $XPL at $500M FDV – the same valuation as its latest private placement round. The deposit period starts at 13:00 UTC on June 9, the deposit is capped at $250M, funds can be withdrawn at any time during the deposit period, and all funds will be locked for at least 40 days after the deposit window closes. These funds will be available for withdrawal on Plasma. Allocate how many $XPL can be purchased based on the amount of deposit and the time of purchase Complete KYC at Echo (cannot be participated in by the mainland) 5. Risks I don't think it's possible to break The deposit is withdrawn on plasma, and I don't know if there will be slippage With a two-month time window, the cost of capital occupation is relatively large.