Plasma will reopen a US$500 million deposit line, raising the total cap to US$1 billion
On June 12, the stablecoin project Plasma announced that it would reopen the deposit limit of US$500 million again one hour later (9 a.m. Beijing time), raising the total limit to US$1 billion. Deposits earn income on Aave and Maker through Veda's audited treasury contracts. All assets will be converted to USDT after the lock-up period ends. Plasma has previously received strategic investment from Peter Thiel's Founders Fund, and announced in February this year that it has completed US$24 million in financing (US$20 million Series A financing and US$4 million seed financing). Framework Ventures led the investment, with cryptocurrency trading platform Bitfinex, venture capitalist Peter Thiel and Tether CEO Paolo Ardoino participating.
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