Binance has announced the launch of the Plasma USDT Locked Product through On-Chain Yields, offering daily USDT rewards and a post-Token Generation Event (TGE) XPL airdrop for users who lock their USDT.
According to Binance’s official announcement, the Plasma USDT Locked Product is part of Binance Earn’s On‑Chain Yields. It enables users to earn both daily USDT income and participate in a future XPL airdrop tied to Plasma’s upcoming Token Generation Event. The product employs a snapshot-based calculation—similar to the HODLer Airdrop method—to determine XPL reward allocations based on users’ historical average holdings. This dual-incentive structure is designed to attract stablecoin holders by blending immediate yield with long-term token exposure.
The product launched on August 20, 2025, at 12:00 UTC and included a total subscription cap of 250,000,000 USDT, allocated on a first-come, first-served basis. As cited by Binance, users stand to share in 100,000,000 XPL tokens—which represent 1% of the total XPL supply—based on their contribution to the total locked USDT pool over time. The daily snapshots of user balances ensure that even early redemption does not affect previously recorded snapshot data, preserving users’ share in XPL rewards.
CoinDesk reported that the offering quickly filled its $250 million USDT quota in under an hour, highlighting strong user demand and market appetite for yield-bearing stablecoin products. The speed of uptake reflects both the appeal of dual-reward incentives and Binance’s extensive user base and execution infrastructure.
Binance is recognized as the world’s largest cryptocurrency exchange by trading volume. It operates across more than 180 countries and serves hundreds of millions of users through an expansive ecosystem that includes spot and derivatives trading, wallets, research, education, and passive income products like Binance Earn. According to Plasma’s platform overview, Binance Earn provides seamless on‑chain yield access to its 280+ million‑user network. This enables projects like Plasma’s USD₮ yield product to reach vast audiences without requiring separate wallet or protocol setups. This robust infrastructure supports innovations such as the Plasma USDT Locked Product effectively bridging centralized and decentralized finance.
