Overview

• Plasma announced on Aug. 29 that EtherFi will integrate more than $500 million from its ETH staking vault as a day-one partner for the network’s mainnet beta.
• The integration enables EtherFi’s liquid-staked ETH to be used as collateral for lending and borrowing and opens access to ETH-backed yield products across Plasma’s DeFi stack.
• Plasma operates as a Bitcoin sidechain with full EVM compatibility and supports zero-fee USDT transfers through a dual-validator, gasless architecture.
• EtherFi is reported to have over $11 billion in total value locked, while Plasma cites rapid early traction with $1 billion in deposits in June and a $24 million raise from backers including Framework Ventures, Bitfinex, Founders Fund, and Tether’s leadership.
• The companies position the partnership to serve demand in the stablecoin sector, which reporting places at more than $280 billion in combined supply.