 | Plasma (XPL) |
Impossible FinancePlasma is a high-throughput, zero-fee payment platform built on Bitcoin. It enables USD₮ transfers without fees and supports over 1,000 transactions per second, leveraging Bitcoin’s security.
Series A Round: $20.5M
Funding Round: $3.5M
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Impossible Finance
BitcoinWhat is Plasma
Plasma is a high-performance, scalable, and secure blockchain purpose-built for stablecoins. Traditional blockchains were designed long before stablecoins existed or gained traction. Today, stablecoins have over $225 billion in supply and see trillions of dollars transferred monthly, making them one of crypto’s most critical use cases. However, current blockchains face significant obstacles for stablecoins, such as high transaction fees, centralization issues, high transaction failure rates, and a lack of specialized features required to support stablecoins from first principles.
With backing from Bitfinex/USDT0, Plasma is engineered from the ground up to meet the unique needs of stablecoins. Our team brings together expertise in software engineering at Apple and Microsoft, high-frequency trading at Goldman Sachs, distributed systems research at Imperial College London and Los Alamos National Lab, and hands-on experience building some of the largest stablecoins and blockchains.
Plasma Roadmap
For the initial launch, Plasma will deploy its core components: the PlasmaBFT Consensus Protocol, rigorously optimized for high throughput and low latency, and a fully EVM-compatible execution layer that supports existing smart contracts. This phase establishes a stable foundation for early integration with stablecoin issuers, onramp providers, liquidity providers, banking-as-a-service platforms, fintechs, and other key partners.
Following the mainnet beta, we will implement the Plasma native, trust-minimized Bitcoin Bridge and settlement mechanism. This phase will deploy a bridge that anchors Plasma state differences to Bitcoin, ensuring seamless access to Bitcoin liquidity and robust interoperability between Plasma and Bitcoin.
Once the fundamental components are stable, our focus will shift to shipping Plasma’s core stablecoin features—including custom gas tokens, zero-fee USDT transfers, and confidential transactions—while optimizing performance, usability, and network efficiency. This phase will address the technical challenges of stablecoin payments, such as throughput, latency, and specialized feature development.
Next, we will build and release native developer tooling and infrastructure specifically for stablecoins. This phase will deliver comprehensive APIs, SDKs, and management tools that facilitate seamless wallet and onramp integration, empowering developers and financial institutions to fully utilize Plasma’s stablecoin-first architecture.
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