Saina_S

Plasma (XPL): Analysis of Token Economic Model and Value Support Dimensions

I write about XPL because I believe that the token economy of XPL is built around ecological utility value, undertaking core functions such as gas fees, node staking, on-chain governance, and ecological incentives. Its value is closely tied to stablecoin payments and the BTC-Fi ecosystem, and it is designed to fit the practical logic of public chains. This is a core highlight that I recognize. The project adjusts supply and demand through mechanisms like transaction fee burning and staking lockup, attempting to build long-term value support, which also shows me the planning of its token model.

However, I gradually perceive that XPL's current value support is still too weak. I find that the token price is highly dependent on market sentiment and short-term subsidies, with actual demand usage and long-term staking being relatively low. The deflationary and lockup mechanisms have not formed an effective bottom line, which makes me very concerned about its value stability.

But in my view, the token economic framework of XPL has fundamental potential but lacks the support of real ecological traffic. I still believe that only by allowing token demand to completely rely on essential scenarios such as cross-border payments, merchant settlements, and BTC interactions, and breaking free from speculation and subsidy dependence, can we solidify the value base and achieve long-term positive development of the token and ecology.

#plasma $XPL @Plasma

I think the core highlight of Plasma (XPL) lies in its solid ecological landing and commercialization layout. By collaborating with Visa to launch a payment card, it connects global offline consumption scenarios, covering over 150 countries' merchants, deeply integrating on-chain stablecoin payments with real-world consumption. At the same time, its rapid access to leading DeFi protocols like Aave has built a complete on-chain financial ecosystem, attracting a large influx of users and funds.

From the perspective of XPL's commercialization process, there are still challenges for the project team, as current user growth and ecological activity heavily rely on subsidies such as cashback and zero fees. A sustainable profit model has yet to fully take shape; the expansion speed of B-end merchants and enterprise-level collaborations is also lagging behind market expectations. I still believe that XPL's ability to implement scenarios is its core advantage. Only by breaking free from subsidy dependence and establishing a self-sustaining business loop can it achieve long-term steady development in the stablecoin payment track!
#plasma $XPL @Plasma

Chatty, the price of $BTC has dropped below 70,000 and has returned to July 2024 levels. Currently, there seems to be no bottom because many institutions have not yet started to sell. It has now fallen below the cost price of institutions by 6,000 points, and those institutions hold very large positions, like MicroStrategy with hundreds of thousands of coins. If there is no capital entering the market and institutions start to sell off, it may go down further. The risks ahead are still quite significant. Spot needs to be entered in batches, and don't enter too much into Ether for now; the risk is even greater than Bitcoin $BTC

Today, I restructured the technical design of Plasma ($XPL ) to precisely target stablecoin payment scenarios. The self-developed PlasmaBFT consensus achieves sub-second transaction confirmations and high throughput, adapting to essential needs like cross-border payments and high-frequency trading. EVM compatibility reduces migration costs for developers, quickly accommodating existing ecological resources. Its trust-minimized Bitcoin bridge technology not only connects BTC ecological traffic but also ensures asset cross-chain security, balancing performance and compatibility in the technical architecture.
There are some challenges at the technical level worth optimizing for @Plasma : facing high concurrency scenarios in extreme market conditions, network stability needs long-term validation; compared to high-performance public chains like Solana, the differentiated technical advantages can still be further enhanced. I believe that the technical adaptability of XPL is the foundation of its development. If it can continue to iterate and optimize, solidifying its technical moat, #Plasma will have a stronger voice in determining XPL's long-term competitiveness in the stablecoin payment track!

#plasma $XPL From the core competitiveness of Plasma (XPL), the advantage of the XPL project lies in its native stablecoin ecosystem deeply tied to Tether and the "storage-value-consumption" closed loop. As a dedicated public chain for stablecoins backed by Tether, its on-chain native USDT scale exceeds 5 billion USD, with no cross-chain bridge risks, and paired with the Paymaster mechanism to achieve zero Gas fee transfers, completely removing usage barriers. Plasma One digital bank offers over 10% stable returns and 4% cash back on consumption, with physical cards covering global merchants, creating unique value-added scenarios.
However, I believe the overall challenge for XPL is that this project relies heavily on high returns from ecological subsidies, making long-term sustainable development quite challenging; traditional financial products' interest rate competition will also divert users. I think the key to breaking through homogenized competition is whether it can convert the trust advantage of native stablecoins into long-term user retention, replacing subsidy incentives with scenario stickiness. @Plasma

Brothers, the newly launched $ZAMA spot trading competition
Trading volume greater than 500U has a guarantee, and there are about 15000 spots available
To get 400, you probably need a trading volume of over 5000, with a 500 trading volume likely yielding 50 low guarantees (the reward is estimated to be around 1u)
The rewards are 50 to 400 Zama token vouchers, but the rewards in this market are indeed somewhat lacking ah

#plasma $XPL I look at it from the user demand perspective of Plasma (XPL). For ordinary users and cross-border traders, the core needs are low-cost, fast transaction, and easy-to-use stablecoin payment services, which is also the core focus of Plasma (XPL). It addresses the pain points of expensive transfers and slow arrival with zero Gas fees and sub-second settlements, with stablecoins directly paying for Gas to eliminate the need for currency exchange operations, and then paired with Visa payment cards to adapt to daily consumption, completely aligning with the habits of the general public. However, the project currently relies too much on cashback subsidies, with relatively few native practical scenarios, and there is still a lack of guidance for non-crypto users. I still believe that if XPL wants to precisely meet users' essential needs, it must break free from subsidy dependence and refine the basic experience to turn traffic into long-term loyal users! @Plasma

In the morning, I was still thinking that I had already gone numb. The probability of Ethereum testing 2100 is still a bit high, and there is quite a bit of selling pressure at 2600 above. Let's see if we can recover by tomorrow night. If it's really bearish, I wouldn't dare to look at Ethereum if Bitcoin hits 60,000 😣😣. Those holding spot should hold their bullets tight and slowly buy the dip.

I still remember the epic airdrop of #Plasma , it was truly the most generous airdrop in the 25-year history of the industry!! No one else!!!

Back then, the threshold for participating in the pre-sale was extremely low, with 1 dollar or several dozen dollars in deposits being enough to get in, and the TGE directly unlocked a value of 10,000 dollars for the $XPL project, an unprecedented level of cash distribution. Alpha and financial users were also all basking in the sun with 100 U, with minimal score requirements (70 points). It’s just a pity that after a round of bull and bear markets, the coin price plummeted by 90%, and the once huge benefits shrank significantly. From extreme surprise to today’s sighs, it perfectly verifies the law of the crypto circle: most wealth creation myths are made by the times.

But I still have faith in the @Plasma project; they are in a hot track, with outstanding technology, and the 26-year payment public chain xpl will gradually warm up, and the project's vision is very ambitious.

Do you all hope that there will be one such project every year?

75000 Here BTC has strong support, but if panic selling breaks this area, I will think of that old man from MicroStrategy whose holding cost for 700,000 BTC is around $76,000. Breaking this could trigger a chain of risk control-related sell-offs, and below are the cost prices for institutions (American institutions have to execute the data from their risk control systems). I really can't see the bottom with one risk control sell-off after another. The wave around 48888 in July 24 may not be reached, but BTC around 70,000 is already considered a winter for the crypto circle. Altcoins are even harder to watch; if they don't go to zero, we should thank the heavens.

The counterfeit leader ETH has collapsed, the liquidity in the cryptocurrency circle has truly bottomed out, and the capital enthusiasm is not as good as it was at the beginning of 2024-2025. This year's 🗑️ market, apart from exchanges and those making easy profits, it's hard to imagine any traders making money from $ETH

#plasma $XPL From the perspective of user experience with Plasma (XPL), I will briefly analyze its core competitiveness, which is reflected in its extreme friendliness to ordinary users. It eliminates complex on-chain operation logic, supports stablecoin direct payment of Gas, allowing users to complete transfers and consumption without holding or exchanging XPL, significantly lowering the entry barrier. Coupled with the Visa payment card to bridge offline scenarios, it makes on-chain payments closer to daily usage habits. However, the project's education and retention of new users still rely on subsidies, raising doubts about long-term natural growth. I still believe that the usability advantage of XPL is the key to breaking into new markets. If it can weaken reliance on incentives and deepen the practical applicability of scenarios, it can truly move from the crypto circle to the mass payment market. @Plasma

The second round of the WLFI spot trading competition has started. I didn't trade much, over ten thousand, about 40 is relatively normal, around 7 dollars, brothers remember to activate and use.

#Plasma （$XPL ）is a dedicated EVM-compatible Layer 1 public chain designed for high throughput and low-latency stablecoin payments, focusing on USDT native settlement layer. It is also the first stablecoin public chain project to complete TGE in its track, experiencing rapid growth after the mainnet test version goes live in September 2025. Technically, it achieves zero Gas transfers for USDT, with a self-developed architecture suited for high-frequency payment scenarios. The flagship product, Plasma One, integrates stablecoin interest generation, 4% cashback on consumption, and collaborates with Visa to cover over 150 countries and 150 million offline merchants. In terms of ecosystem, it is currently the second-largest market for Aave globally, with over 75,000 registered users on-chain. In 2026, it will further expand zero-fee payments to third-party applications and introduce a trust-minimized Bitcoin bridge to bring in native BTC liquidity. XPL, as the native token of the ecosystem, has a total supply of 1 billion, with 40% allocated for ecosystem incentives. In 2026, a creator reward program will be launched, and the project will gradually decentralize and expand support for multiple stablecoins, focusing on the essential needs of cross-border payments in emerging markets, reducing development thresholds with a unified API, and aiming to become the core infrastructure for global stablecoin payments. @Plasma

Brothers, the newly launched USD1 trading points event
If the trading volume is greater than 500U, there is a guarantee, and there are about 70000 slots available
Get a total of 72 WLFI worth 12U, the trading volume reward is 1 point for every 1000 trading volume, and the accumulated points will be shared (I don't see any difference from before)
The reward is a token coupon reward of 12 WLFI to 72 WLFI, limited to the first 75000 users, choose BNB/BTC to exchange for USD1 with less volatility