Binance has added the Plasma token (XPL) to its HODLer Airdrops page and has enabled spot trading. This initiative benefits users who held BNB in Simple Earn products and those who locked USDT. 75 million XPL will be distributed among BNB holders and 100 million for participants with locked USDT.
To qualify for the BNB portion, users had to be subscribed to BNB Simple Earn (Flexible or Locked) or to On-Chain Yields between September 10 and 13, 2025. Each account required completed KYC and residence in an eligible jurisdiction. For the Alpha Points route on Binance Alpha, the historical cutoff was between 170 and 200 APs. The BNB pool contains 75 million XPL, equivalent to 0.75% of the total supply, while the Locked USDT pool contains 100 million XPL. The snapshot for locked USDT was taken from August 20 to September 24, 2025, using the daily average balance held in custody.
Trading began on September 25, 2025 at 13:00 UTC with the pairs USDT, USDC, BNB, FDUSD and TRY. USDT deposits and withdrawals on the Plasma network were enabled on September 24, 2025. The total fixed supply is 10 billion XPL, with 10% sold to the public and 40% reserved for ecosystem growth, both following a published distribution schedule.
Expected impacts and key dates
Plasma is presented as an EVM-compatible Layer-1 that moves stablecoins with low cost and high speed, using a consensus protocol called PlasmaBFT to reduce confirmation times. A Layer-1 is a base chain that processes transactions and executes contracts without external help.
The next checkpoint is the joint launch of trading and the claims portal on September 25, 2025. Product and compliance teams now need full snapshot records, verified KYC files and a liquidity plan ready for sudden price moves.
