Echo, an investment platform founded by renowned cryptocurrency trader Cobie, officially launched its ICO platform Sonar today, with its first online project being the stablecoin blockchain project Plasma. Plasma will sell 1 billion XPL tokens to the public through Sonar, accounting for 10% of the total supply, with a target fundraising of $50 million and a corresponding valuation of $500 million. The token is priced at $0.05 and will be sold for two weeks. Plasma is currently in the private testing phase, and the main network is planned to be launched in late summer. Previously, the project had received a total investment of $24 million from investors such as Peter Thiel, Cobie, and Tether CEO. Founders Fund has also recently participated in the investment in the form of equity and token rights. （The Block） https://www. (wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=43078