Many people think that Plasma is just a 'transfer public chain', but after using it, they find that its ecosystem is rapidly expanding, transforming from a simple payment tool into the infrastructure for stablecoin finance—this is all thanks to its EVM compatibility and cost-effectiveness.
There are already DeFi applications on Plasma such as stablecoin lending, liquidity mining, and cross-chain exchanges. I deposited $10,000 USDT on Plasma to participate in liquidity mining, and the annualized return can reach 8%. Moreover, due to low transaction fees, frequent operations do not incur significant costs. Compared to similar projects on Ethereum, the returns are about the same, but the fees are over 95% lower, allowing for considerable extra earnings in the long run.
The more practical feature is the cross-chain exchange function. Previously, I wanted to transfer USDC on Ethereum to the BNB chain, which required 3 steps and cost $5 in fees, taking half an hour. Now, through Plasma's cross-chain bridge, I can exchange it directly with one click, with a fee of $0.08, completed in 5 seconds, and it supports almost all mainstream stablecoins, so I no longer have to worry about the troubles of cross-chain transactions.
Plasma is also collaborating with offline merchants to promote stablecoin payment implementation. Last month, while traveling in Bangkok, I found several convenience stores that already support payment with Plasma using USDT; scanning the QR code is as convenient as using Alipay, with the fees covered by the merchants, so consumers don't have to spend extra money. According to the staff, because Plasma has low fees, merchants are willing to accept this payment method, which can also attract foreign tourists.
The most anticipated is Plasma's enterprise-level solutions. Several payment institutions have already partnered with Plasma to launch stablecoin collection tools aimed at small and medium-sized enterprises, supporting bulk transfers, automatic reconciliation, compliance report generation, and more. For businesses, it not only saves payment costs but also solves the compliance challenges of cross-border payments, which offers more imaginative space than simple personal payment scenarios.
Plasma's ambition clearly extends beyond just 'transfers'; it is using low-cost and high-speed payment capabilities to connect various aspects of stablecoin finance, from personal payments to corporate services, from online DeFi to offline consumption, a complete stablecoin ecosystem is forming.
