Plasma Mainnet Beta Release Imminent, On-Chain Markets to Begin First Stress Test

PANews reported on September 23rd that with the imminent launch of the Plasma mainnet beta, its on-chain market will undergo its first stress test, involving a large injection of liquidity in a short period of time. The primary priority is to steadily attract capital to support the long-term development of the DeFi ecosystem. The plan is as follows: First, USDT will be migrated from Veda's deposit vault to Aave in phases over five days to manage fund utilization and risk. Second, high XPL incentives will be provided to the vault during this period. Third, in the first few days of the mainnet beta launch, user withdrawals will be subject to a 48-hour cooldown period, which will be shortened to 24 hours after market stability. Fourth, depositors who withdraw will forfeit all rewards during the cooldown period.

Deposits will utilize Veda's vault to deploy stablecoins to Aave. During the mainnet beta phase, $1 billion in USDT will be bridged from the Ethereum mainnet to Plasma, with liquidity gradually introduced. USDT will be provided from Veda to Aave in a controlled sequence to maintain the health of the DeFi ecosystem. Supply caps will be adjusted with risk managers, and some liquidity will be reserved to match borrowing demand. Depositors will also receive additional XPL rewards.

Earlier news, last week, Plasma announced that its stablecoin blockchain will enter the "mainnet testing phase" on September 25 .