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Binance has announced that it will quadruple the total subscription limit for its Plasma USDT Locked Product to 1 billion USDT. This decision follows the initial cap selling out within an hour, as detailed in a press release from the company.
The Plasma USDT Locked Product is part of Binance Earn’s On-Chain Yields initiative. It offers users the opportunity to lock their USDT for fixed-term returns, along with an airdrop of XPL tokens after the Token Generation Event. According to Binance's official announcement, the platform simplifies on-chain operations, making participation more accessible for users. The product aims to combine stable daily USDT income with potential benefits from the Plasma protocol's token rewards.
Binance initially set the subscription cap at 250 million USDT, which was fully subscribed within one hour. This strong demand led to what Binance described as an "overwhelming response," prompting a reassessment of its allocation strategy to enable broader participation.
