24h Change-6.62%
All Time HighSep 28, 2025$1.68
All Time LowJun 10, 2026$0.06
Market Cap$252.87m
Fully Diluted Valuation$972.56m
Circ. Supply2.6b XPL
Outstanding FDV$972.56m
CEX Volume$31.82m
DEX Volume$8.38m
Funding Round · Oct 18, 2024$3.5m
Feb 13, 2025$24m
Public token sale · Jul 17, 2025$50m
How much debt can be issued against XPL as collateral across lending protocols.
Maximum possible exposure to XPL
$8.1m
$8.1m (max additional borrows against XPL) + $4,933 (bad debt if XPL was hacked now)
Fluid
$8.1m at-risk exposure = $4,933 bad debt if hacked + $8.1m additional borrowable against XPL
Showing collateral exposure for XPL on Plasma. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
Each row is one protocol-chain exposure for XPL as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
XPL0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee | $8.1m | $4,933 |
Risk-management actions published about XPL by tracked risk managers and governance contributors, newest first.
XPL was initially approved for onboarding during Plasma instance deployment but paused due to service provider reservations. With sufficient liquidity now achieved, it's being reconsidered for collateral use with highly conservative parameters like 0.05% LTV to limit exposure.
XPL is used to faciliate transactions, validator staking & rewards, and eventually governance participation. Simple USD₮ transfers are gasless, sponsored by a protocol paymaster. XPL pays fees for non-gasless transactions.
Plasma validators run by the Plasma team participate in consensus. At this time, XPL holders cannot delegate stake to validators. Plasma plans to implement staked delegation in the future.
Base fees are burned; remaining fees go to validators.
Supply is elastic. Validator-reward inflation begins at 5% annually, tapering 0.5% per year to a 3% baseline, but only activates once external validators and delegation go live (not yet active). The EIP-1559 base-fee burn offsets emissions. Net direction depends on usage and is inflationary by design once rewards activate.
Investors hold 25% of XPL. XPL confers no documented entitlement to protocol revenue. Plasma has not published an explicit equity-vs-token disclosure.
Fees for non-gasless transactions are paid in XPL: the base component is burned (EIP-1559) and the remainder goes to validators (currently the Plasma team). Simple USD₮ transfers are gasless, sponsored by a protocol paymaster. No protocol revenue accrues to a treasury or to XPL holders.
No buyback mechanism is currently active
Once staking/delegation is live, stakers and delegators will earn validator-reward emissions (newly minted XPL), not a share of protocol revenue.
Base fees are permanently burned.
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Tracking 4 pools, average APY 459.68%
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWXPL | $2.05m | 0% | 0% | 0% | |||||
| open in new tabXPL-USDT0.3% | $266,437 | 460% | 460% | 307% | |||||
| open in new tabWXPL-USDT0 | $15,056 | 0% | 0% | 0% | |||||
| open in new tabXPL | $13,615 | 0% | 0% | 0% |
Tracking 4 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWXPL ➞ USDE | $132.28m | 0% | 0% | -2.59% | 0.05% | $2.05m | $0 | ||
| open in new tabWXPL ➞ USDT0 | $125.84m | 0% | 0% | -3.69% | 0.05% | $2.05m | $0 | ||
| open in new tabWXPL ➞ GHO | $10.53m | 0% | 0% | -3.21% | 0.05% | $2.05m | $0 | ||
| open in new tabWXPL ➞ WETH | $980,571 | 0% | 0% | -1.24% | 0.05% | $2.05m | $0 |
