If you understand XPL as a chain, you are underestimating it.
I am increasingly convinced that:
XPL is more like the 'operating system for stablecoins (Stablecoin OS)'.
You won't think about 'how many TPS Android runs' on your phone,
You will only care about:
Stable or not
No lag
Is the experience good
Is the access unified
Is the cost controllable
This is OS.
XPL is building the OS for the stablecoin world.
① Stablecoins are not assets, but rather 'application layer infrastructure'
How to use stablecoins?
Wallet
Payment
Top-up
Cross-border
Merchant
Platform settlement
B2B cash flow
None of this happens on-chain,
They occur at the 'application layer'.
The role of XPL is:
Help the application layer achieve stable, efficient, low-risk underlying settlement.
This is the OS.
② XPL's 'Unified Payment Path' is like the kernel of an operating system
Traditional public chains have:
Multi-path execution
Variable Gas
Multiple contract calls
Complex on-chain logic
These are a disaster for payments.
Usage of XPL:
Single-path settlement
Fixed, stable execution logic
Lightweight nodes
No jitter confirmation structure
It's like the kernel of an operating system:
There is only one correct path, no randomness.
Payment systems fear randomness the most.
XPL directly removes randomness from the structure.
③ XPL is not designed for users, but for the 'backend architecture' of payment companies
The future will be like this:
Payment company → Calls XPL → Completes settlement
E-commerce platform → Calls XPL → Completes settlement
Wallet → Calls XPL → Completes on-chain execution
Ordinary users will not see XPL at all,
but all payment needs will make use of it.
This is the OS.
④ The value capture of XPL will come from 'system-level dependencies'
A payment company integrating with XPL = an entire link depends on it.
An e-commerce platform integrating with XPL = all transactions depend on it.
This is the value model of the OS:
Not TVL,
Not the number of DApps,
It's the degree of system dependency.
Once dependencies are formed, they are hard to replace.
What do you think should be the core of a stablecoin operating system? Speed? Stability? Regulation? Compatibility?
