Plasma’s sub-second BFT finality won’t be the settlement finality big stablecoin flows price in: desks will wait for Bitcoin-anchored checkpoints, because only checkpoints turn reorg risk into a fixed, auditable cadence outsiders can underwrite. So “instant” receipts get wrapped by checkpoint batchers and credit desks that net and front liquidity, quietly concentrating ordering. Implication: track the wait-for-anchor premium and who runs batching. @Plasma $XPL #Plasma