Plasma attracts $373 million in oversubscribed token sale

PANews reported on July 28 that according to CoinDesk, Plasma, a blockchain project focusing on stablecoins, has completed a public token sale, raising $373 million, more than seven times its $50 million target. According to available data, the sale has resulted in an oversubscription of approximately $320 million, aimed at redeeming unsubscribed XPL worth approximately $209,000. The token is expected to be issued within 40 days, and the refund of oversubscribed funds will also be processed in the near future. Tokens for U.S. investors will face a 12-month lock-up period, but for the rest of the world, XPL will be unlocked at the time of issuance.