@Plasma is defying the odds. Stablecoin supply is still over $2B despite rewards tanking 98% in value.

This happened even as rewards dropped significantly. $XPL emissions are down 80% from the peak. In dollar terms, that is a 98% decrease.

The network no longer has to pay for liquidity. Protocols on Plasma are growing without heavy incentives. Aave utilization on the chain is now the highest in the industry. Profitable traders are keeping the ecosystem active.

The era of high sell pressure from liquidity mining is over. The focus now shifts to bringing in new income sources. More activity and fee generation will drive value back to the network.

The Pivot to Profit

#Plasma is moving from an incentive-based model to a value-driven one. The capital is staying put because the ecosystem works.

Key Stats

* 2bn+ Stablecoin supply.

* 74% USDT concentration.

* 98% drop in emission value.

* Industry-leading Aave utilization.