Plasma is building a Bitcoin sidechain for stablecoins, starting with USDT, backed by $24M from @Framework, @Bitfinex, @PeterThiel, and @paoloardoino (CEO of @Tether_to). Key features:

Bitcoin-level security with PlasmaBFT consensus (Fast HotStuff) for high scalability.

Zero fees for USDT transfers.

EVM compatibility for seamless DeFi integration.

Plasma tackles stablecoin issues: high fees, centralization, and slow transactions. With USDT dominating 70% of the $220B+ stablecoin market, Plasma is set to drive mass adoption.

Plans:

Testnet & mainnet launches soon.

Expansion into DeFi, payments, & remittances, leading Bitcoin-based DeFi (BTCFi).

Founded by @PaulFaecks & @C_Angermayer, with advisors like @paoloardoino & @PeterThiel, Plasma is revolutionizing stablecoins and Bitcoin DeFi. 🚀