ICO by @PlasmaFDN was the hottest ever?
The idea of a Bitcoin sidechain?
🧵: Why $3B FDV launch is imminent.
II. "ICO nowadays?"
Yes, @PlasmaFDN initially raised $500M from over 1,100 wallets (averaging ~$35K per wallet), but then increased the deposit cap to $1B.
"Will there be additional raises?"
There will be no further increases to the deposit cap. Total deposits are now limited to $1 billion.
The goals of the deposit period were clear: enable broad, global participation through a fair process prioritizing real users over bots, and bootstrap day-one stablecoin liquidity for Plasma mainnet beta. We’ve achieved both.
With deposits now closed, the system remains live. You can still withdraw at any time before the lock-up phase, but note that withdrawing or transferring your receipt token will reduce your units.
We’re deeply grateful for your trust and participation. This is only the beginning.
III. No, but for depositors, if @PlasmaFDN launches with a $2-3B FDV, it will earn them a 60-100% APR.
... if not even higher, given how hard $CRCL has been pumping.
IV. So, backed by @bitfinex and @USDT0_to, I believe @PlasmaFDN isn't just another EVM chain, but a specialized infrastructure for global $USDT transfers.
V. @PlasmaFDN is an L1, but acts like a Bitcoin sidechain.
"Why Bitcoin?"
The way I see it, stablecoins are evolving to handle everyday payments, while Bitcoin is becoming the layer of trust and transparency.
Our north star is to build a trustless execution layer on Bitcoin for the entire global financial industry. But to start, we are tackling the payment industry, which annually extracts hundreds of billions of dollars in value from consumers.
Plasma is building zero-fee payment rails for USD₮. With Plasma, you can send USD₮ to anyone, anywhere in the world—nearly instantly and with no transaction fees whatsoever, all on Bitcoin.
VI. What's more is that @PlasmaFDN enables you to pay gas in $USDT or $BTC or has at all, has zero-fee $USDT transfers.
VII. For someone who's watched stablecoins go from niche to critical rails, @PlasmaFDN feels like the infrastructure that's been missing. Not just faster, but smarter.
If stablecoins are the financial layer of crypto, @PlasmaFDN is its native chain.
What do you, bois, think of @PlasmaFDN?
@splinter0n @bullish_bunt @rongplace @0xDefiLeo @satyaki44 @the_smart_ape @PlasmaAfric @0xCheeezzyyyy @DOLAK1NG @lucidxpl @YashasEdu @0xG00gly @0xAndrewMoh @eli5_defi @0xyoshitaka @_SmokinTed @RubiksWeb3hub @kenodnb @lstmaximalist @kay00nee
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