#plasma $XPL Binance and Plasma: Opening the 'Zero-Fee Lightning' Era of Stablecoin Payments
The partnership between crypto giant Binance and the high-performance blockchain Plasma is ushering stablecoin payments into a new era of instant, zero-cost transactions. Plasma, a Layer 1 network built specifically for stablecoin settlements, allows Binance users to transfer USDT as easily as sending a text message, without incurring any network fees.
Imagine a specific scenario: a traveler holding USDT on Binance makes a purchase at an overseas store by scanning the merchant's Plasma network payment code. A payment of $100 worth of USDT is completed in 0.3 seconds, with a settlement cost of zero. Compared to the approximately 3% fee and 1-3 days of settlement time for traditional credit card cross-border payments, this is undoubtedly revolutionary. It is this sub-second finality and zero Gas fee model that has attracted widespread attention from ordinary consumers to payment service providers.
In Binance's trading market, Plasma's token $XPL has been active. Specific data shows that its market capitalization has entered the top 300, with a 24-hour trading volume consistently maintaining at tens of millions of dollars, and a circulating supply of 1.8 billion (accounting for 18% of total supply), providing ample liquidity to the market. The technical core of Plasma lies in its EVM equivalence, allowing developers to easily deploy existing applications using familiar Solidity language and tools like MetaMask. For example, a DEX running on Ethereum can migrate to Plasma within a few hours, leveraging its high-speed and low-cost features to provide Binance Web3 wallet users with an almost centralized exchange trading experience.
The integration of Binance Earn and Plasma creates a simple and reliable way to earn interest. The USD₮ deposited by users is directly deployed in decentralized financial protocols on the Plasma chain, used for providing liquidity or collateralized lending, with earnings settled daily. This stands in stark contrast to the less than 1% interest rate on savings accounts at banks. @Plasma's Twitter (with over 220,000 followers) recently highlighted the growth brought about by the collaboration with Binance: the open interest in $XPL futures contracts increased by over 150% within a week, demonstrating strong market interest. Analyst @cexscan cited Binance data indicating a significant improvement in the liquidity depth of the $XPL/BTC trading pair, with tighter bid-ask spreads, facilitating large transactions.