Speaking of Plasma, my first reaction is still that: finally there is a chain specifically born for stablecoins.
The official website and documentation explain the idea very straightforwardly — most blockchains treat stablecoins as second-class citizens, while Plasma reverses that by implementing zero-fee USDT transfers, customizable gas tokens, and confidential payments directly at the protocol layer. The result is: transfers really have zero fees, gas can be paid directly in USDT, and both the amount and the recipient can be selectively hidden (but compliance disclosure can be opened at any time), making it particularly suitable for scenarios like payroll and cross-border remittances.
The technical foundation is PlasmaBFT (pipeline version of Fast HotStuff), which processes proposals, voting, and submission in parallel, achieving 1000+ TPS with final confirmation in a few seconds, and block time <12 seconds. The execution layer uses a modified Reth, fully EVM compatible — Solidity contracts can be moved directly, and MetaMask works seamlessly.
The Bitcoin bridge is also hardcore: a trust-minimized verifier network (independent institutions running full BTC nodes) mints 1:1 pBTC (LayerZero OFT) after deposits, which can be directly used as collateral in EVM, issue BTC stablecoins, and engage in cross-asset DeFi. Withdrawals use MPC threshold signatures to release BTC, eliminating custody risk. Once the mainnet goes live, it brings ~2 billion USDT liquidity, and now the TVL is nearly 2.8 billion, with a stablecoin market value of 1.8 billion, starting off ahead of many general-purpose chains.
The total supply of XPL tokens is 10 billion, with 10% for public sale, 40% for ecosystem (8% unlocked at launch, releasing monthly over 3 years), and 25% each for the team and investors (1 year cliff + 2 years linear). Inflation starts at 5% and gradually decreases to 3%, with base fees burned, overall leaning towards conservatism. Validator rewards will only be scaled up later, so as not to dilute all at once.
In summary: Plasma is not here to compete in the general computing space; it simply aims to be the "highway" for stablecoin payments. If stablecoins are truly to move towards mainstream payments (trillions in global monthly transactions), this path is likely unavoidable.
These two versions include specific mechanisms, real data, scenario examples, and vivid metaphors, making it read more like a friend sharing project observations with you, rather than a dry documentation recount. If you need to adjust the tone, add a certain angle, or change the length, just let me know! @Plasma $XPL #plasma
