Additionally, it's important to note that once the public sale begins, users must submit a new batch of stablecoins to actually purchase XPL tokens—deposits in the Plasma Vault will not be automatically used for buying XPL. If a user doesn’t use their full allocation, the unused portion will be proportionally redistributed to those who oversubscribed. This means users are encouraged to slightly oversubscribe during the purchase to potentially receive additional XPL.
From a compliance perspective, all participants must complete strict KYC verification on the Sonar platform, including those who already have Echo accounts. U.S. users are required to provide accredited investor documentation, and any XPL they purchase will be locked for an additional 12 months after the sale ends. Users from the UK, China, Russia, Cuba, Iran, Syria, North Korea, and Ukraine are prohibited from participating in this public sale.
The stablecoins deposited will first be converted 1:1 into USDT on Ethereum by whitelisted market makers, then securely bridged to the Plasma network using LayerZero’s cross-chain technology, where they will be stored as USD₮0. Once the mainnet beta is live, users will be able to withdraw their principal and accumulated yield, with a transparent and fast process that typically takes less than 48 hours.
During this period, the deposit receipt tokens serve only as internal proof of deposit. Any transfer of these tokens will be considered an early withdrawal. The team strongly advises against using them in any DeFi activities.