Stable coin project Plasma adds $500 million deposit limit, sold out in 30 minutes

According to BlockBeats, on June 12th, the $500 million deposit limit added by stablecoin project Plasma was sold out within 30 minutes, bringing the current total limit to $1 billion. Users can start earning unit shares by depositing their stablecoins into the vault, and the unit shares determine the user's subscription shares in the XPL public sale. Deposits earn profits on Aave and Maker through Veda's audited treasury contracts. After the lock up period ends, all assets will be converted to USDT. On June 9th, a certain address spent 39.15 ETH (worth approximately $100000) Gas to become the first Plasma deposit address and successfully pledged 10.17 million USDC to Plasma. Plasma previously received strategic investment from Peter Thiel's Founders Fund and announced in February of this year that it had raised $24 million ($20 million in Series A funding and $4 million in seed funding), led by Framework Ventures, with participation from cryptocurrency trading platform Bitfinex, venture capitalist Peter Thiel, and Tether CEO Paolo Ardoino.