On June 12, the stablecoin project PLA announced that it will reopen the deposit limit of $500 million in 1 hour (9 AM Beijing time), raising the total limit to $1 billion. Deposits earn yields on Aave and Maker through Veda's audited vault contract. All assets will be converted to USDT after the lock-up period ends.
PLA previously received strategic investment from Peter Thiel's Founders Fund and announced in February this year that it had completed $24 million in financing ($20 million in Series A and $4 million in seed round), with Framework Ventures leading the investment. Bitfinex, venture capitalist Peter Thiel, and Tether CEO Paolo Ardoino also participated.





