Plasma four-stage lockdrop and public sale mechanics
Quote212 words
Bullish call$XPL−94%since listing, moved against the callHow it played out ↓Walks through Plasma's deposit, lock-up, public sale and mainnet distribution stages with caps and KYC rules. Sees FDV potential of $5B-$10B but flags competition for the $250M cap, Sonar load and gas wars.
Key claims
Cap of $250M total, $50M per person
Lock-up lasts at least 40 days post-sale
Author sees $5B-$10B FDV potential
Less than one hour left until @PlasmaFDN opens deposits. Are you ready anon?
TL;DR on how Plasma's four-stage lockdrop/sale process works exactly:
➀ Deposit Period:
- Deposit stablecoins on Ethereum mainnet
- Earn units based on deposit amount & duration.
- Withdrawals allowed (units reduced accordingly).
- Cap: $250M total, max $50M per person.
➁ Lock-Up Phase:
- Deposits/withdrawals paused
- Stablecoins converted to $USDT
- All $USDT bridged to Plasma
- Lock-up lasts at least 40 days post-sale
➂ Public Sale:
- Guaranteed allocation based on units earned
- Option to commit extra funds for unclaimed tokens from guaranteed allocations (pro rata)
- Requires KYC (Sonar), US investors must be accredited, $XPL locked 12 months
➃ Mainnet Beta & Distribution:
- XPL tokens distributed
- Deposited USDT bridged & withdrawable on Plasma.
I'm very bullish on this launch, could easily see this go to $5B-$10B FDV, and will also try to make it in this first deposit period.
However, the sale that kicks off comes with a few issues that will probs make it hard for us to meaningfully participate:
- High competition for $250M cap
- Sonar's ability to handle peak load
- Gas wars rekting ppl
So unfortunately, hopes are not too high.
@PlasmaFDN Linking this here too:
x.com/zerokn0wledge_/status/1932049209332560062
1 image on X
How the call played out · since 09 Jun 2025
Prices as of 23 Oct 2026This piece takes a view on $XPL, so that move is read against the call.
Very bullish on the Plasma launch and sees XPL reaching $5B-$10B FDV, aiming to deposit in the first period.
−94%
Moved against the call · since it listed on 26 Sep 2025, 4 months after this piece
- At listing
- $1.28
- Now
- $0.0778
- vs BTC
- −92%
- After 1 month
- −69%
- After 3 months
- −90%
- After 1 year
- −91%
- High since
- +27% 28 Sep 2025
- Low since
- −95% 11 Jun 2026
Since then
Zero has written 1 more piece on Plasma and $XPL since this one.
Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish call in a thesis or market take is tracked; explainers, lists, maps and mentions are neutral context. Not financial advice.