宁凡

Fan Fan talks about the on-chain transaction accelerator Fogo

In recent days, the hot topic in the cryptocurrency world is not a new narrative but rather the absurd experience of trading. CreatorPad has shifted attention back to performance, and I see that the idea of @Fogo Official is very clear: rather than being big and comprehensive, it directly refines the chain as a matching engine. The core selling points are three things: SVM compatibility lowers the cost of developer migration, the Firedancer approach maximizes throughput and stability, and multi-region consensus reduces latency to near real-time, which is especially critical for order book DEXs and derivatives. The value capture of $FOGO resembles the standard template for transaction-oriented public chains, used for fees, staking security, and ecological incentives, ultimately relying on the real on-chain transaction volume to recoup narrative premiums. My conclusion is simple: don't treat it as the next universal public chain; it's more like a turbocharger for on-chain finance. Whether it can outperform depends on who brings high-frequency strategies and deep liquidity first. #Fogo

This week, AIBC Dubai and Consensus Hong Kong are both trying to make their presence felt, and Vanar also went to make a splash. I'm not too concerned about who takes the stage; I'm more interested in whether it can turn AI tools into a long-term paid business. There are reports that myNeutron and Kayon subscriptions have already started running, settling with VANRY, which essentially shifts demand from one-time hype to monthly revenue.

The second trump card is cost control. Vanar has made the transaction fee a fixed cost plus tiers, and has also provided a Gas price API and cost management mechanism. This means that no matter how volatile the market is, the business can still calculate every step of the cost. Creating payment flows and high-frequency proxy calls is more valuable than just shouting TPS.

The third trump card is turning data into assets. Neutron compresses 25MB down to 50KB, generating verifiable Seeds; it's not just about storing a hash but allowing data to be directly reused by applications and proxies. Coupled with the upcoming governance proposals, this will enable VANRY holders to participate more directly in AI parameters and incentive directions, tying tools, data, and governance into a cohesive system. Ning Fan believes that the chain should not only keep accounts but also manage costs and the brain.
@Vanarchain $VANRY #Vanar #vanar

Don't ask if Vanar is like the new public chain anymore. If Ningfan were to say, this project is selling cost control rights.

Recently, AI subscriptions have been frequently increasing in price, and everyone has noticed that the most expensive part is not the model, but the uncertainty of usage. On-chain is even more outrageous; during peak periods, gas fees are like a lottery. Vanar takes a different approach by directly incorporating fixed costs into product pricing, allowing you to calculate ROI before jumping in.

Its sharp point lies not in a single fixed cost, but in tiered pricing. The documentation divides transactions into five tiers based on gas ranges, with the smallest tier priced in USD down to 0.0005, suitable for high-frequency small actions. AI agents can call dozens of times per second without being choked by transaction fees.

More akin to an enterprise system is the cost control plane. The protocol will calibrate costs at a fixed rhythm. The documentation mentions using a price API to check and update rates according to block frequency. You can think of it as an on-chain financial department; costs are not shouted out by the frontend but are verifiable real numbers in the protocol.

Looking at the data layer, Neutron does not store files; it compresses content into programmable seeds. The official statement claims it can compress 25MB down to 50KB, and it emphasizes full-chain verifiability. Seeds can also carry the author and timestamp records, making them suitable for proving hard assets like invoices, contracts, and audit materials.

I see Kayon more as a business interface. It focuses on natural language queries and compliance automation, feeding on-chain data together with the enterprise backend to the inference layer. Ningfan's local saying is that it allows non-engineers to query data and issue commands, reducing one layer of middlemen and thereby reducing risk.

Finally, Fanfan talks about how tokens capture value. The subscription of myNeutron will convert into VANRY and trigger a buy-in, entering a burning mechanism. This ties revenue, demand, and deflation to the same report. Whether it can go far depends on the sustained growth of real subscriptions.
@Vanarchain $VANRY #Vanar #vanar

Kayon just flooded the screen, Ning Fan talks about Vanar's execution ability

In the past two days, it has been rumored that Kayon is a decentralized brain, capable of using natural language to query on-chain data, as well as performing compliance automation and intelligent workflows. My first reaction was to see if it could transform the blockchain from a ledger into a decision-making machine.

Vanar's approach is quite peculiar but very practical. It first turns data into knowledge blocks called Seeds, and then adopts a hybrid storage model, which runs fast in normal times but can also pin validation and ownership on-chain during critical moments. Ning Fan understands this as treating data as an asset to manage, rather than saving files as attachments.

More importantly, there is product design on the cost side. The document mentions tiered transaction fees, with ordinary transfers, exchanges, minting, staking, and cross-chain actions at the lowest tier. When converted, this amounts to a very small equivalent of VANRY. This pricing is particularly friendly for high-frequency interactions, ensuring that micro-operations in payments, gaming, and AI agents do not lead to bankruptcy when busy.

Finally, it comes down to how tokens capture value. The paid subscription of myNeutron will convert into VANRY and trigger purchases, which will also enter a long-term burning logic. This aligns income, buying pressure, and deflation into a single line. Ning Fan prefers to see it as an operational business rather than a market lottery ticket.

In simple terms, Vanar's uniqueness is not just being AI-native, but rather how data is stored, queried, inferred, billed, and how tokens participate in cash flow—all written into the same system. Next, it will depend on whether developers dare to entrust this brain with critical business processes.
@Vanarchain $VANRY #Vanar #vanar

One-click cross-chain is becoming standard, Ning Fan talks about how Plasma XPL is seizing the gateway for stablecoin entry.

Fan Fan has noticed that the narrative around cross-chain has changed recently, it's no longer about who has more bridges, but rather who can make transactions one-click. On January 23, Plasma integrated NEAR Intents, directly launching one-click swap features as a chain abstraction entry. The official statement claims it covers over 25 main chains and over 125 types of asset routing pools, which is more like infrastructure for large stablecoin settlements rather than marketing gimmicks.

Fan Fan is more concerned about the second signal: whether exchanges are willing to treat you as a stablecoin channel. Kraken, on December 10, 2025, opened the deposit and withdrawal for USDT0 on Plasma, which means users can move stablecoins directly in and out of the exchange through Plasma, reducing one bridge and minimizing slippage. The platform’s willingness to open this channel indicates that the chain's usability and integration costs are not outrageous.

The third point is the experience threshold. Plasma has made zero-fee stablecoin transfers a protocol-level capability, relying on official relayers and a built-in paymaster to cover gas fees, sponsoring only specific stablecoins for direct transfers, and implementing identity-related restrictions to prevent abuse. In simple terms, this design allows new users to transfer money without having to buy native coins first, while preventing exploitation of the system.

Finally, looking at the integration layer, wallet and hardware support must be in place to shift settlements from exchanges to everyday scenarios. A security team is promoting OneKey’s native support for XPL and hardware integration, emphasizing the use of transaction analysis to reduce blind signing risks. This is crucial for those wanting to engage in payments because a poor security experience will drive users back to centralized accounts.

To summarize, Plasma is not attracting people by merely shouting about price increases; it is seizing two gateways: one is the one-click routing for cross-chain, and the other is the gas-free entry for stablecoins. If these two aspects are continuously deepened, XPL's value will resemble system resources rather than short-term trading chips. Conversely, if the gateways do not materialize, no amount of activities will sustain interest for long.
@Plasma $XPL #plasma #Plasma

Fan Fan takes everyone to see the cash flow of the Plasma chain

Recently, there was a meeting in the United States that hasn't concluded yet, discussing whether stablecoins should pay interest. The core issue is whether stablecoins can actually generate returns. Banks are afraid of deposits being siphoned off, while crypto companies argue that without incentives, there is no growth.

In the same week, there was news that the CFTC expanded the definition of payment stablecoins to include "issued by national trust banks." The regulatory approach is clearly moving towards controllable payment tracks.

Therefore, Ning Fan looks at Plasma not just at the rhetoric; I first look at how it handles incentives and dilution.

The official Tokenomics is straightforward, following the EIP 1559 model, where the base fee is directly burned, with the aim of using usage to hedge long-term inflation.

Validator inflation rewards are also provided with a curve, starting at an annualized rate of 5%, decreasing by 0.5% each year, and finally dropping to 3%. Moreover, it will only start once external validators and delegation are online.

Looking at the pace, its roadmap places "staking and delegation" in the first quarter of 2026, which pushes network security and revenue distribution to the forefront.

This is quite critical because the tighter the scrutiny on stablecoin returns, the more revenue will shift from "explicit distribution" to "network layer incentives" for compliance packaging.

Then I went to check the on-chain operating data, which is quite real.

DeFiLlama shows that the scale of stablecoins on the Plasma chain is about $1.836 billion, but the chain fee in 24 hours is only about $385, indicating that it is more like paving the way now and hasn't reached the stage of collecting rent through transaction fees.

The same page also reported that the DEX 24-hour volume is about $7.69 million, with a 7-day volume of about $146.5 million, and a weekly increase of 21%. This indicates that trading is active, but there is still some distance from "universal settlement."

Fan Fan's conclusion is just one sentence.

Regulators are arguing about returns, while institutions are demanding infrastructure. Plasma's combination of burning, controllable inflation, and the upcoming staking delegation is essentially turning incentives into system components, not marketing giveaways.

What matters next is whether the scale of stablecoins can continue to grow, and whether the chain fees and actual settlement volumes can keep up. Otherwise, no matter how good the model, it can only be considered a "design draft."
@Plasma $XPL #plasma #Plasma

The subscription model has arrived on the chain, Ning Fan will talk about Vanar's fixed cost business

AI tools are starting to charge fees, everyone complains that it's expensive, but renewals cannot be stopped. Vanar is more direct, subscriptions for myNeutron and Kayon have turned into regular consumption of VANRY, which means turning demand into monthly cash flow, not relying on one-time narratives to support valuations.

What I value most is the cost model. Other chains during peak periods are like snatching tickets, while Vanar operates on fixed fees plus first-come, first-served, making budgets controllable and finances easier to manage. In scenarios like PayFi and corporate settlements, stable costs are a competitive advantage; otherwise, how can merchants quote prices to customers?

Then let's talk about the technical foundation. Fan Fan believes it’s not enough to just call it AI-native. Neutron performs semantic compression on large files, with the official claim that 25MB can be compressed to the 50KB level, and it has also created programmable Seeds, meaning data can be used by contracts and agents as production materials, rather than just storing a hash to count as completed.

In Fan Fan’s view, the execution layer of this project is quite realistic. It operates on EVM compatibility and mentions the use of mature execution clients like Geth, which lowers development migration costs and speeds up ecosystem access. Ning Fan's colloquial remark is that only chains that can copy homework run quickly.

Lastly, looking at the token aspect, circulation nearing the upper limit means the dilution story can’t be told anymore, so it has to be picked up by business. Subscriptions come in and are converted into VANRY, triggering buying and long-term burn mechanisms. This is called binding product revenue and token demand to a KPI, and whether it can scale depends on whether real users are willing to pay for memory and reasoning.
@Vanarchain $VANRY
#Vanar #vanar

Stablecoins have already reached Wall Street. Ning Fan looks at Plasma XPL, which resembles a settlement operating system.

Recently, FT called this drama the stablecoin war. Banks are afraid of deposit outflows, and the crypto circle is worried about tightening regulations. Anyway, settlement is no longer a toy for a small circle.

At the same time, Hong Kong also announced that it will issue the first batch of stablecoin licenses in March 2026, focusing on use cases, risk control, and anti-money laundering. The direction is very clear; in the future, what will be competed is efficiency under compliance.

Fan Fan sees that the most powerful point of Plasma is not its slogan but the fact that it completely eliminates user friction.

It allows the use of whitelisted ERC20 as Gas, for example, using USDT to pay fees. You don’t necessarily have to buy XPL first to get started, which is convenient for new users.

Additionally, it promotes a trading form that can be confidential but compliant, not the kind of black box anonymity. This is more like “auditable privacy” aimed at institutions.

The money is also not virtual.

The public sale of XPL raised approximately $373 million, with a target of $50 million being oversubscribed by more than seven times, with nearly 3,000 wallets participating. This is called market voting with feet.

Moreover, the Binance co-branded USDT locked income product with a $250M quota was snapped up in less than an hour, and it was accompanied by 1% of the total amount, which is 100 million XPL as a reward. You can say that demand is strong.

Plasma also clearly states that the scale of stablecoins has exceeded $250 billion. The track is indeed large, and the competition is intense.

XPL is a system asset that must bear security and incentives while being digested by the ecosystem. This requires that subsequent growth is not reliant on activities for survival but depends on daily settlement volume to keep the cycle running smoothly.

Being impressive is not enough; it needs to be practical. People must be willing to use it for daily stablecoin transactions for this strategy to be viable.
@Plasma $XPL #plasma #Plasma

The subscription fee can be repurchased and destroyed on the chain, which is called having cash flow.

Recently, the hot topic in the square is not about the ups and downs, but whether the subscription can utilize the tokens. Vanar has made this quite straightforward: the myNeutron payment will be exchanged for VANRY to trigger purchases, and then follow a long-term burn logic. The money does not go into a black box; it goes into a cycle.

Looking at the market is even more interesting. CMC shows a circulation of about 2.29B, with a cap of 2.4B, basically approaching a full warehouse circulation pace. It's hard to tell a dilution story; it can only rely on real demand to lift supply and demand.

Technically, it resembles an AI memory factory. Neutron compresses data into programmable Seeds. The official statement claims it can compress 25MB down to about 50KB, and emphasizes that it's verifiable across the entire chain. This means that data is not just stored; it is an asset that can be utilized by contracts.

Then there’s Kayon, which leans more towards the business side. The documentation states that most people will use Kayon to interact with Neutron, acting like a natural language assistant to turn data into insights. Ningfan's understanding is that it creates a standard interface for querying and reasoning in the chain, so that each project doesn't have to reinvent the wheel.

Security and governance are not just for show either. Vanar uses DPoS, but there’s a detail that feels very Hong Kong style: the foundation first selects validators to ensure that the underlying system is reliable, and the community then uses VANRY to delegate staking to strengthen the network and also receive rewards. This is like first ensuring supplier access and then doing market allocation.

Therefore, I don’t see Vanar as an emotional ticket; it feels more like an infrastructure that turns AI memory and on-chain data into assets, linking subscription income with token repurchase and burn into one line. Whether it can take off depends on two things: whether developers are willing to treat Seeds as production materials, and whether users are willing to pay for memory.
@Vanarchain $VANRY #Vanar #vanar

Fan Fan is looking at Plasma XPL, this wave of stablecoins is too popular.

Recently, Visa expanded stablecoin settlements to over 50 countries.

This gives Fan Fan the feeling that stability is worth more than hype.

Plasma's validators only cut rewards and not the principal, which is more like corporate SLA thinking.

It also explicitly states that there will be no penalties for short-term disconnections, making operational expectations more stable.

The fee model follows EIP 1559, with base fees burned; XPL will have a continuous recovery logic.

Reward inflation starts at 5%, decreasing by 0.5% each year until it reaches 3%, with the budget curve being set in stone.

Kraken has already integrated USDT0 for deposits and withdrawals on Plasma, indicating that the integration progress is indeed moving forward.

While outside discussions continue on whether stablecoins can generate yields, Plasma has lightened the penalty mechanism and clarified economic incentives, following a practical path.

@Plasma $XPL #plasma #Plasma

During the days when privacy coins were in turmoil, I took a closer look at Dusk.

At the beginning of February, privacy coins collectively retraced, and the market was in extreme panic with a bunch of privacy coins collectively liquidating.

To put it bluntly, pure anonymity is easily choked under strong regulatory pressure, but Dusk incorporates compliance into its protocol logic.

The Zedger it created is not just a pseudonym; it merges UTXO and account models specifically for the lifecycle management of restricted assets.

More importantly, the XSC set of confidential contract standards can turn securities rules into enforceable constraints without exposing sensitive information to the entire network.

The underlying virtual machine follows the WASM route and natively supports ZK-related operations, which greatly enhances the development efficiency for privacy contracts.

Architecturally, it separates into three layers to handle settlement and data availability, then stacks the EVM execution layer and privacy layer, reducing the cost of institutional access.

Recently, the pace of DuskEVM's advancement in the first quarter of 2026 has been repeatedly mentioned, which essentially brings Ethereum developers directly into the fold.

As for network security, don't overthink it; the starting staking threshold is clearly stated, and you can participate with at least 1,000 DUSK.

I am more optimistic about this approach; the transaction layer Phoenix has undergone complete security verification, and then the asset layer Zedger handles compliance gameplay.

So when the market fluctuates, I remain calm; I only care if this chain can serve both privacy and regulation well. This is the long-term strategy for DUSK.
@Dusk #Dusk $DUSK #dusk