Plasma backed by Bitfinex announced a strategic association with Etherfi on August 29, positioning Stablecoin centered as a first day launch partner for the Blockchain Beta Mainnet.
Etherfi will transfer more than $ 500 million from its Ethereum vault (ETH) to the plasma platform, providing liquidity for performance strategies backed by Stablecoin.
Integra Etherfi collaboration in the Plasma Defi ecosystem, providing users with additional guarantee options for loans and loans while offering access to performance products backed by ETH.
The Plasma announcement emphasized how the association complements the objectives of both platforms in the Stablecoin infrastructure space. The protocol declared:
“Stablecoins gives everyone, everywhere access without permission to the financial service to save money safely and reliable.”
Etherfi is the sixth largest protocol, with a total blocked value of more than $ 11 billion as of August 29. The protocol reached a historical maximum of almost $ 12.6 billion on August 14.
Infrastructure centered on the stablecoin
Plasma functions as a side chain of Bitcoin with complete compatibility of Ethereum Virtual Machine (EVM), specifically designed for stablecoin payments and cross -border transactions.
The platform offers zero rate USDT transfers through a double validator architecture that processes transactions without gas.
The recent market activity demonstrates a significant institutional interest in the plasma approach. The platform raised $ 1 billion in deposits within 30 minutes during its June expansion, with 70% of the concentrated funds among the 100 main wallets according to the Sealaunch analysis firm.
Initial deposits in June totaled $ 500 million, with more than 1,100 participating wallets.
In addition, plasma is backed by high profile names. The Round of Protocol Funds $ 24 million attracted the support of Framework Ventures, Bitfinex, the founders of Peter Thiel and the CEO of Tether, Paolo Ardoino.
Defi ecosystem integration
The Etherfi association extends beyond the simple vault migration. Plasma users will be able to take advantage of Etherfi liquid stable tokens as a guarantee while accessing the stablecoin characteristics, including personalized gas tokens and confidential transactions.
In addition, the Association positions both platforms to capture the growing demand for stablecoin infrastructure as the sector exceeds a total offer of $ 280 billion.
The former Bitmex CEO, Arthur Hayes, recently said that Etherfi is one of the three protocols that could capture a significant value of the expansion of the stable of the American dollar stable.
Etherfi’s commitment to move $ 500 million in ETH assets represents confidence in technical architecture and plasma market positioning within the expanding stablecoin ecosystem.
