XPL

XPL is the native token of Plasma, a layer-1 blockchain designed as a zero-fee settlement layer optimized for stablecoin transfers and global payments. The network aims to eliminate transaction fees for end users on standard transfers, using staking and protocol-level mechanisms rather than per-transaction gas charges to sustain network operations. Plasma launched on mainnet in late 2025 with listings on major centralized exchanges and backing from notable investors. The token is used for staking to secure the network, validator incentives, and governance over protocol parameters. The project's thesis centers on the idea that stablecoins need a dedicated, low-friction settlement layer rather than competing for block space on general-purpose chains. For traders, XPL offers exposure to the stablecoin infrastructure thesis and the competitive landscape among purpose-built payment blockchains targeting real-world transaction volume.

Traders can access up to 10x leverage using USDe as margin collateral. This market supports cross margin under Unified Account or Portfolio Margin mode.

Tracks

Plasma