Binance has introduced an on-chain yield product in partnership with the Plasma Foundation, allowing Binance Earn customers to lock USDT and receive daily interest in both USDT and Plasma’s native XPL token. The programme is billed as the first fully on-chain yield offering available through the exchange. To encourage early participation, Binance will distribute 1% of XPL’s total supply to initial depositors alongside the standard yield. Demand was immediate: the first 250 million USDT allocation was fully subscribed within hours of the launch, according to Binance. The tie-up gives Plasma exposure to Binance’s reported 280 million users and more than US$30 billion in USDT balances. Plasma said the yields are generated through the Aave lending protocol, framing the product as a step toward a broader, permissionless financial network.