Binance Sets Final 500 Million USDT Quota For Plasma Yield Product

Binance announced on Tuesday that it will open the last round of subscriptions for its Plasma USDT Locked Product, setting a total limit of 500 million USDT after the first two batches were filled within minutes.

The new batch, launching on August 26 at 7:00 a.m. ET, will mark the final expansion of the offering under Binance’s On-Chain Yields program. The exchange said individual subscriptions will be capped at 10,000 USDT per user, down from earlier thresholds. “Binance may gradually adjust the quota based on the market demand and other reasons,” it said.

Binance added that existing positions from earlier batches remain unaffected. Rewards in USDT and XPL will continue as before, though XPL yields may fluctuate with total allocations, the exchange said. Subscriptions will be available on a first-come, first-served basis. “After this Final Batch 3 Quota, there will be no further opening of new batches nor increases to the Total Subscription Limit,” Binance said.

Tether’s USDT (USDT) is currently the largest dollar-backed stablecoin in the market with a market capitalization of $110 billion, followed by Circle Internet’s (CRCL) USD Coin (USDC), which has a market capitalization of $21 billion. On Stocktwits, retail sentiment around USDT trended lower in ‘bearish’ territory over the past day, while retail sentiment around USD Coin edged marginally higher but also remained in the ‘bearish’ zone.

Under the promotion, users who lock USDT earn on-chain yield and qualify for a share of a 100 million-XPL airdrop, equal to 1% of Plasma’s total supply, to be distributed after its token generation event (TGE). A timeline for the TGE has not yet been disclosed.

Plasma, a stablecoin-focused blockchain project backed by Bitfinex, markets itself as a high-throughput, low-cost network designed for moving dollar-pegged tokens at scale. The network emphasizes zero-fee transactions and fast settlement to support merchant payments, remittances, and on-chain finance, with plans to expand integrations across both centralized and DeFi platforms. For Binance, the USDT locked product is a part of its growing “on-chain yields” catalog.

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