Investors Snap Up Plasma’s $250 Million USDT Yield Deal on Binance Within 60 Minutes

Plasma’s USDT Yield Program on Binance Hits $250M Cap in Under One Hour

Plasma’s latest on-chain yield offering with Binance reached its $250 million cap in under an hour on Wednesday, underscoring surging investor demand for stablecoin yield opportunities and early access to the project’s native token, XPL.

The initiative—launched via Binance Earn at 12:00 UTC—allowed users to lock USDT in exchange for daily USDT rewards and a share of 100 million XPL tokens, which represent 1% of the upcoming token’s total supply. These tokens will be distributed following Plasma’s token generation event.

The high demand highlights rising interest in Plasma, a stablecoin-focused blockchain offering zero-fee USDT transfers. Binance will use daily snapshots of user balances to allocate both yield and XPL token rewards. The program operated on a first-come, first-served basis, and Plasma hinted that the $250 million limit could be raised to accommodate continued demand.

Backed by high-profile investors such as Peter Thiel, Tether CEO Paolo Ardoino, and Framework Ventures, Plasma previously raised $373 million through an oversubscribed public sale. In June, it attracted over $1 billion in USDT deposits.

The swift uptake of the yield program demonstrates growing investor confidence in Plasma’s ecosystem and the early traction of its native token.