Plasma is a Layer 1 blockchain purpose-built for high-volume, low-cost stablecoin transfers and payments. Its architecture supports zero-fee transfers of USDT (and potentially other stablecoins), built with full EVM compatibility so developers can deploy Ethereum-style smart contracts and dApps. The native token XPL functions as the gas token, a staking/consensus token (via its PlasmaBFT consensus mechanism), and incentivises network security and validator operations.
By focusing explicitly on the stablecoin use-case rather than a general smart-contract platform, Plasma targets the “digital dollar” economy and attempts to reduce friction (for example, users may pay gas in stablecoins instead of needing to hold a native token) which might lower barriers to adoption for payments and remittances. Its roll-out included mainnet launch with significant stablecoin TVL, and integrations with major exchange and infrastructure players, positioning the chain to potentially compete as a settlement layer for stablecoins globally.