This Thursday, September 25, Plasma’s highly anticipated mainnet beta is going live alongside the launch of its native token, XPL! In parallel, Plasma is rolling out an ambitious liquidity program, powered by Merkl, designed to kickstart activity on the new chain.
Starting today, users can interact with leading DeFi protocols deployed on Plasma and earn liquid XPL in return.
Plasma: a layer 1 for global stablecoin payments
Plasma is a next-generation Layer 1 blockchain purpose-built for stablecoin payments. Designed to make money movement faster, cheaper, and simpler, Plasma is the ideal foundation for stablecoin-driven applications, from everyday payments to advanced DeFi use cases.
To accelerate onboarding liquidity from day one, Plasma is launching an ambitious rewards program, powered by Merkl. The program’s goal is to grow TVL, and it will be heavily incentivizing liquidity over the next six months to achieve this.
At launch, Aave — Plasma’s key ecosystem partner — alongside other key protocols Uniswap, Balancer, Curve, Euler, Fluid, Gearbox, Maple, Term, and Veda will be allocated rewards.
With more than 30 reward opportunities available from day one — spanning lending, borrowing, liquidity provision, and even token holding — there’s a way for every DeFi user to get involved.
This liquidity program has already started, with multiple Tier 1 funds, CEXs, family offices, liquid funds, yield farmer collectives and whales now benefiting from these opportunities.
Merkl behind Plasma’s liquidity program
Plasma chose Merkl for its robust, scalable infrastructure, and extensive protocol coverage, making it the ideal partner for running an incentive program of this scale.
When a user interacts with a participating protocol on Plasma (e.g. depositing into a vault, supplying liquidity, or holding a token), the Merkl Engine detects this activity onchain and calculates XPL rewards based on factors such as deposit size, duration, and pool TVL. Rewards are then automatically distributed to users and can be claimed through on a dedicated dashboard.
Merkl’s contribution doesn’t stop at the back-end engine. We’ve also built a dedicated Plasma App — a customized version of the Merkl App with Plasma branding and filters focused solely on Plasma reward opportunities.
This app offers:
- An overview of all participating protocols and available earning opportunities
- Easy access to each opportunity with key data such as APR, daily rewards, and TVL
- A streamlined rewards dashboard for a smooth and intuitive token claim experience
With this, every user can easily participate, track, and claim their XPL rewards.
How to start earning XPL
Getting started with Plasma’s rewards program is simple:
1. Bridge funds to Plasma (you can use Stargate)
2. Browse reward opportunities on the dedicated Plasma app powered by Merkl, and take action — lend, borrow, supply liquidity, or hold eligible tokens
3. Track your positions on the dashboard and claim your XPL rewards as they accumulate
With the launch of Plasma’s mainnet, the XPL token, and this ambitious liquidity program, a new chapter begins for stablecoin payments and DeFi adoption. And with Merkl behind the scenes, users can count on a seamless, fair, and transparent reward experience from day one.