Plasma is an EVM L1 blockchain purpose-built for stablecoins that launched in September 2025.
To power its launch, Plasma chose Veda as its preferred vault provider. Veda bridged over $1B in assets without user intervention.
Today, Plasma has over $7B in total stablecoin deposits, and supports 25+ different stablecoins. It’s become the fourth-largest blockchain by USD₮ balance.
“We focus on finding the best teams and going deep. Partnering with Veda on our GTM has been a great example of how working with the best teams always pays off.”
@LucidXPL COO, Plasma
The CHALLENGE
New chains face a cold start problem: Apps need liquidity to get started, but LPs need clear incentives to bridge.
Plasma needed to attract significant liquidity before its mainnet launch in a simple way that ensures:
Flexibility
Accept deposits in multiple stablecoins while earning yield.
Transparency
Funds are held transparently onchain and only allowed to earn on Aave.
Simplicity
Users get 1-click onboarding to earn yield, while Veda handles bridging.
The Solution
Plasma Pre-Deposits, Powered by Veda
Veda provides Plasma with the infrastructure to collect deposits and generate yield.
Veda can convert funds to any stablecoin before bridging.
Veda integrates with industry-leading bridging solutions and migrates funds for users.
Future-proof, by design
New blockchains, strategies, and assets can be added or removed over time, ensuring PlasmaUSD remains a competitive and lasting solution.
RESULT 1
Launching with $1B+ in liquidity
Veda seamlessly bridged $1 billion without requiring action from users. As a result, Plasma launched with deep, day-one liquidity to jumpstart the new chain’s ecosystem, achieving: - $500M in liquidity in <1 minute - $1B in TVL in 30 minutes - $3B all-time high in AUM
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