I just finished reviewing Plume's mainnet data, and this so-called 'full-stack RWA engine' L2 does have something to it—it's not only tokenizing $4.5 billion in assets but also allowing users to invest in real estate and luxury goods using NFT fragments. But what surprised me the most is not the technology, but its 'compliance breakthrough': by embedding KYC through the ERC-3643 standard, institutional-grade assets can be pieced together on-chain like DeFi Legos. For example, Ondo's treasury bond tokens directly become collateral for loans on Plume, with yields 3-5% higher than traditional fixed income.
However, the challenges of Plume are as hardcore as its ambitions: of the initial circulation of 26.5% of tokens, nearly half comes from airdrop pressure, and the price has fallen over 60% from its peak. But in the long run, its team background (former Scale VP, veteran of Binance ecosystem) and modular architecture (Arbitrum Nitro+Celestia DA) may become a moat, especially when institutions like BlackRock and Hamilton Lane begin testing on-chain asset issuance. If Plume can stabilize ecological growth (currently 180 protocols onboard), it may indeed be able to leverage the trillion-dollar RWA market.
Short-term focus on on-chain TVL data after the mainnet upgrade in October, long-term gamble on whether it can become a 'compliance bridge' for TradFi assets on-chain. Do you think the RWA narrative can withstand the cycle?
#Plume #Modular Chain @Plume - RWA Chain $PLUME
