Stablecoin Holders Now Earn Rewards Plus a Shot at XPL Gains

Binance has launched a new investment product called the Plasma USDT Locked Product, aimed at users seeking returns through stablecoins while also offering participation in an airdrop for the XPL token. The product is part of Binance's On-Chain Yields lineup, and it enables users to lock USDT for a limited period, earning daily rewards in the same currency and a proportional share of a 100-million XPL token pool. This airdrop represents 1% of Plasma’s total token supply and will be distributed after the Token Generation Event [2].

The Plasma USDT Locked Product was met with strong demand, as the initial subscription cap of 250 million USDT filled quickly. The distribution of XPL rewards is calculated through multiple daily snapshots, ensuring that users who hold larger or more consistent subscriptions receive a proportional share. This mechanism allows users to retain their reward entitlements even if they choose to redeem their locked USDT early [2].

Plasma, a blockchain platform backed by Bitfinex, is designed to facilitate fast and low-cost stablecoin transactions. It is focused on payments, remittances, and on-chain finance, prioritizing efficiency in large-scale dollar token movements. Plasma has launched products like Plasma-USDT across various platforms to enhance liquidity and integration with both centralized and decentralized finance systems. Earlier this year, the project raised $373 million through a token sale, which will be used to expand the network and develop its applications [2].

The new Binance product allows users to access the Plasma USDT Locked Product via the platform’s website and mobile app. To participate, users select the amount of USDT they wish to lock and confirm their subscription to begin earning rewards. Binance has clarified that the inclusion of XPL in this product does not imply a future listing on the platform’s markets or any direct endorsement of other Plasma-related launches or integrations [2].

This initiative reflects the growing trend among stablecoin issuers and blockchain platforms to offer value-added services to users. As stablecoins continue to play an increasingly significant role in the broader crypto economy, platforms like Binance are leveraging them to create innovative financial products that blend yield generation with token utility. These developments are part of a broader shift in the market, where stablecoins are being positioned not just as mediums of exchange, but also as tools for earning and governance [2].

Users who subscribe to the Plasma USDT Locked Product are participating in a first-come, first-served model with minimum and maximum limits that can affect the annual percentage rate (APR) they receive. Those who choose to redeem their locked USDT early will still retain the rights to any rewards already accrued. The product is structured to balance the stability of USDT with the potential upside of an XPL airdrop, offering investors a dual opportunity for yield and token appreciation [2].

Source:

[1] Why Circle and Stripe (And Many Others) Are Launching Their ... (https://finance.yahoo.com/news/why-circle-stripe-many-others-143000174.html)

[2] Binance Introduces Plasma USDT Locked Product With ... (https://crypto-economy.com/binance-introduces-plasma-usdt-locked-product-with-onchain-yield-incentives/)