Today, Binance announced a new investment product under its Simple Earn On-Chain Yields line. The new product, named Plasma USDT Locked Product, offers users daily returns in USDT and an opportunity for the XPL token airdrop.
Overview of the New Product
Plasma USDT Locked Product allows users to earn returns by locking their USDT holdings. This product attracted significant interest immediately after its launch.
Participation Conditions and Token Distribution
By participating, users can receive a share of the airdrop of 100 million XPL tokens, equivalent to 1% of the total supply. These tokens will be distributed following Plasma's token generation event (TGE), for which a specific date has not yet been set. The initial subscription quota of 250 million USDT was fully filled shortly after launch.
Features of the Plasma Project
Plasma is a Bitfinex-backed Layer 1 blockchain project focused on stablecoins. It is designed to handle high transaction volumes with low costs, providing infrastructure for the scalable transfer of dollar-denominated digital assets.
With the launch of this new product, Binance continues to expand its offerings in the realm of decentralized investments, attracting users looking to earn yields and participate in new token initiatives.
