Is Plume the Alpha Key to Capturing a Trillion-Dollar Epic Narrative?

Author: Web3 farmer Frank Source: mirror

From the data dimension alone, the RWA narrative is definitely the clearest Alpha direction of "blockchain +" in the next 10 years.

According to statistics from the RWA research platform rwa.xyz, the current total market size of RWA exceeds 15 billion US dollars. Fidelity predicts that this figure will double to 30 billion US dollars in 2025, while BlackRock is more optimistic, predicting that the market value of tokenized assets will reach 10 trillion US dollars by 2030.

In other words, in the next 7 years, the potential growth space of the RWA narrative may be as high as 700 times or more! However, there is actually a core question behind this: Who will really capture the incremental value of this epic narrative?

Source:rwa.xyz

This should also be the next $100 billion question for the entire RWA track, and the answer may be hidden in the infrastructure around the RWAfi public chain.

RWAfi, the historic shuttle of RWA

In essence, moving real-world assets (RWA) to the chain is actually just the first step in tokenization, which is far from enough to unleash its true potential - To further realize the release of on-chain value, more efficient technical underlying architecture, open infrastructure tool sets and perfect ecosystem collaboration are needed.

To put it bluntly, the on-chainization of RWA requires not only technological breakthroughs, but also a complete set of service frameworks around the entire life cycle of RWA assets, especially the safe and low-threshold introduction of RWA assets into diversified on-chain DeFi scenarios, and the thorough transformation of the stock dividends of traditional assets into incremental value on the chain.

This is exactly what RWAfi means. Under the framework of tokenization, RWA not only greatly improves its own liquidity, but also can obtain DeFi income through operations such as lending and staking, introduces real income asset support for DeFi, and enhances the value foundation of the Crypto market.

Vitalik Buterin once proposed an interesting metaphor, that is, each blockchain network has a unique "soul", for example, some networks are deeply involved in a certain segment of DeFi, some focus on NFT, DAO ecology, and some are committed to incubating ZK applications, etc.

But when we turn our attention to the RWA ecosystem, we will find an intriguing situation: Although RWA is popular, there are very few RWAfi public chains that specialize in real-world asset management and on-chain circulation - Even Ethereum, Avalanche, etc., which have deep layouts in the RWA direction, are not originally designed to carry trillions of dollars of real-world assets.

The reason is simple. The core mission of RWAfi is to allow real-world assets to flow freely on the chain. Therefore, compared with on-chain applications such as DeFi, in addition to dealing with the complexity of traditional on-chain applications such as DeFi, the more challenging thing is how to make RWA truly "active" on the chain:

• On the one hand, putting real-world assets on the chain involves complex asset tokenization processes and multi-party collaboration, which requires solving issues such as security compliance, liquidity, cross-chain interoperability, and a developer-friendly technical environment, so as to achieve efficient liquidity and transparency of on-chain assets;

• On the other hand, it is not enough to complete tokenization alone. After "on-chain", there is also "empowerment", that is, the real value of RWA is reflected in how to build a transparent, efficient and liquid on-chain financial market through blockchain technology, so in-depth DeFi needs to be realized in the future Protocol integration, revenue distribution, and risk management give RWA liquidity, composability, and interoperability similar to crypto assets;

Take real estate as an example. After tokenization and on-chain, it is no longer a "static" asset in the traditional sense. It can participate in a variety of DeFi scenarios, such as transparent distribution of rental income through smart contracts, or use it as collateral for on-chain financing. This "empowerment" puts forward higher technical and ecological requirements, and also breaks the inherent limitations of RWA as a real asset, injecting it with higher-dimensional composability and application potential.

Therefore, perhaps many people do not realize that RWAfi is not just a technical solution, it essentially creates a new asset class with native real income attributes-by introducing real-world assets, capital, and cash flows, injecting native "real income attributes" into the blockchain ecosystem.

In this context, although many blockchain networks have begun to explore the RWA field, most of them remain on the surface and lack full-chain technical support and ecological layout. After all, RWAfi's success lies not only in its completion of asset tokenization, but also in its ability to provide a full set of solutions from development to operation:

Developers and users need a more user-friendly development resource environment, a more efficient and scalable infrastructure, and a more secure and compliant underlying environment. Therefore, the core demand of the future RWA incremental market of hundreds of billions or even trillions of dollars is obvious-dedicated RWA public chain.

It can meet the diverse needs of institutional users and crypto-native users at the same time. In this vision, the RWAfi public chain not only empowers RWA assets, but is more likely to become the core capturer of the incremental value of the RWA ecosystem. By becoming a hub for liquidity and value settlement, all DeFi operations around RWA tokenized assets (such as Farm and mortgage interactions) can gather value through the RWAfi public chain, further promoting the incremental expansion of the RWA track.

In short, the RWA-specific L1 public chain is only a means, not an end. The players who can truly capture the incremental value of the RWA track are likely to be those solution providers who can cover the entire chain from on-chain infrastructure to ecological empowerment. They can make the full-chain RWA process from "on-chain" to "empowerment" run smoothly and efficiently.

Therefore, from this perspective, the golden age of RWA-specific chains has arrived.

A new interpretation of "one-stop RWA dedicated chain" from Plume

For RWAfi, there is also a natural advantage of sitting on the Diaoyutai:

No matter which track or product under the RWA narrative finally comes out, as long as the entire market scale continues to grow, the RWAfi public chain platform, which directly provides the most basic support in the form of infrastructure, can cut into the future market of up to hundreds of billions or even trillions of dollars and capture the incremental value behind it.

After all, RWA has gradually become the main driving factor for the increase of digital assets on the chain, allowing Web3 to effectively reach the huge asset pool of traditional markets-such as the global bond market (US$133 trillion) and the gold market (US$13.5 trillion).

You should know that since Compound ignited the DeFi summer in 2020, the size of digital assets in the entire on-chain world has ushered in considerable development. Even though it is still facing a sharp pullback compared to US$180 billion in November 2021, as of January 13, 2025, the TVL on the chain is still as much as US$113.5 billion.

Source: DeFiLlama

However, compared to the trillions of dollars of tokenizable RWA assets (bonds, gold, stocks, real estate, etc.), this volume is still insignificant. Therefore, RWA tokenization will undoubtedly bring a new incremental momentum to the on-chain world and expand unprecedented incremental market space for the chain.

Currently, there are very few L1 public chains that focus on RWAfi. Plume, which recently completed a new round of financing of US$20 million, is almost the only RWAfi public chain in the strict sense. This can also be regarded as a benchmark financing event in the field of RWAfi so far.

The notable feature of Plume is its modular design. It systematically solves the tokenization, compliance, liquidity and interoperability issues of RWA through a one-stop solution, providing developers and institutions with a complete solution covering the entire life cycle of RWA tokenization.

This systematic model is worthy of attention. After all, for a public chain, it doesn’t matter how “high-end” the technology is. Whether it can attract developers and users to choose you and settle down is the core competitiveness, especially for RWA, a product that involves high complexity on and off the chain. If you only provide fragmented services in a certain link, developers and institutional users will not pay for it.

Plume's advantage lies in its integration of multiple modular key tools to build a complete RWA asset on-chain solution for developers. This toolset not only lowers the technical threshold, but also directly incorporates compliant suppliers into the platform's upstream supply chain system in a "Compliance as a Service" model, ensuring that tokenized assets meet regulatory requirements from the source:

• Arc - Tokenization Engine: Arc simplifies the tokenization process by integrating compliance workflows and reducing barriers for asset issuers, providing an effective way to introduce RWA to the chain;

• Passport - Smart Wallet:Passport allows users to store contract code directly in their externally owned accounts (EOA). This native feature supports RWAfi composability, yield management, and advanced account abstraction capabilities;

• Nexus - Data Highway:Nexus uses cutting-edge technologies such as zkTLS to securely integrate real-world data into the blockchain, which not only improves the security and transparency of on-chain assets, but also unlocks new opportunities.

Through these modular tools, Plume not only empowers developers, but also greatly reduces the threshold for traditional financial institutions to enter Web3 - developers can quickly deploy complex RWA solutions by lowering the technical threshold through modular tools; the "Compliance as a Service" model can also help traditional institutions solve compliance pain points while providing efficient technical support.

This means that Web2 giants such as UBS and Blackstone Group who want to enter Web3 can directly embed RWA tokenization services into existing products through the one-stop RWA asset tokenization service provided by Plume, and quickly achieve product iteration and market expansion.

This not only allows institutions to easily tokenize assets and introduce them into the blockchain ecosystem, but also retains the smooth user experience of Web2, giving users asset autonomy and Web3 attributes.

From a more macro perspective, in the Web2 world where private domain traffic is king, whoever can run horses and gather enough private domain traffic can get the maximum benefit, which has led to the formation of a situation of fat applications and thin protocols in Web2. Super APPs such as WeChat, Alipay, and Meituan are becoming more and more huge, locking users through a closed ecosystem.

In Web3, the product logic has obviously flipped - products in the form of underlying components or middleware are becoming more and more popular, and can be inserted in the form of "building blocks" or used as underlying infrastructure to obtain the maximum aggregate benefits. Plume's modular infrastructure perfectly fits this Web3 product logic. It provides lightweight RWA integration tools for traditional financial institutions and Web2 giants, enabling them to quickly achieve Web3ization.

This is where Plume's appeal lies. For the RWAfi track, future competition is not just a contest of technical capabilities, but whether it can design an efficient and friendly ecological support system around developers and users. This model that connects on-chain innovation with off-chain assets will become a real watershed in the development of the RWA track.

RWAfi's only way: two-way links between institutions and DeFi "circle of friends"

For Web3, "increment" is an eternal theme - whether it is the injection of incremental funds or the expansion of incremental users.

The core charm of RWAfi lies precisely in its natural "two-way connection" attribute: on the one hand, it links new and old players in Web3, and on the other hand, it connects to the huge amount of deposited assets in traditional finance. This can not only provide new asset categories and income opportunities for crypto-native users, but also open up a path for traditional financial giants to deeply integrate with the on-chain DeFi world, thereby achieving the superposition effect of "1+1>2".

Still taking Plume as an example, it is currently building a "two-pronged" ecological network with institutional partners as the core and DeFi partners as the extension:

• Institutional partners: responsible for providing compliance, trust foundation and high-quality assets, and are the trusted core of its RWAfi ecosystem;

• DeFi partners: provide on-chain users with a flexible and high-yield asset participation method, further enhancing the liquidity and composability of RWA;

If you look closely, you will find that Plume's institutional circle of friends mainly focuses on the tokenization, compliance and asset management of traditional assets, so that RWA can obtain higher liquidity and transparency through Plume's on-chain infrastructure, and provide a platform for traditional financial giants and RWAfi paving the way for deep integration, for example:

• Anchorage Digital Bank: Provide compliant custody services for Plume on-chain assets, allowing institutional clients to directly access RWA income on the chain;

• DeFiMaseer: An institutional partner focusing on the tokenization of the carbon market, putting $200 million in carbon emission quotas on the chain to optimize the efficiency and accessibility of the regulatory market;

• DigiFT + UBS: Co-launch uMint to promote the tokenization of on-chain financial assets;

• Dinari Global + Blackstone: Put Blackstone's ETF on the chain Introducing on-chain to provide higher liquidity for institutional assets;

• Elixir + Blackstone Group: Support Elixir to build more asset circulation infrastructure on the chain;

• NestCredit + MountainUSDM + m0 Foundation + Anemoy Capital/Centrifuge: Build a multi-party cooperation network to promote the sustainable development of diversified assets on the chain.

• Pistachiofi:Introducing on-chain real yield services to Latin America (LATAM) and Asia-Pacific (APAC) to expand regional market coverage;

• Busha:Provide on-chain real yield for the African market and broaden the boundaries of global financial services;

• Cultured RWA:Explore the on-chain potential of the RWA speculative ecosystem;

• Google Cloud:Use AI to provide RWA pricing services to make on-chain asset pricing smarter and more efficient;

The DeFi protocols that have reached deep integration or cooperation with Plume are mainly through Plume Convert the stock dividends of traditional assets into incremental value on the chain, for example, through liquidity support, yield optimization and new scenario exploration, to provide diversified participation opportunities for on-chain users:

• Ondo finance：The leading protocol for tokenized U.S. Treasury bonds (USDY), injecting trusted asset liquidity into Plume's RWA ecosystem;

• Anzen finance：Supports USDz's on-chain stable asset innovation and optimizes the tokenization experience of U.S. dollar-related assets;

• Royco (Berachain):Provides a transparent yield liquidity market built specifically for DApps, and expands to the RWAfi ecosystem through cooperation with Plume;

• Bouncebit：As a CeDeFi Portal partner, helping users access reliable institutional-grade yield products through its platform and strengthening RWAfi's influence in the CeDeFi field; Midas: A DeFi project focusing on high-yield, institutional-grade assets, providing Plume users with more on-chain yield options; PinLink: A DeFi infrastructure provider, working with Plume to introduce fragmented DePIN assets and yield opportunities to enhance ecological liquidity; Avalon finance: Plume's BTCfi liquidity layer partner, focusing on the lending and circulation of BTC in the RWAfi environment, further expanding the application scenarios of on-chain assets; Plume's CeDeFi partner, focusing on the lending and circulation of BTC in the RWAfi environment, further expanding the application scenarios of on-chain assets; Midas: A DeFi project focusing on high-yield, institutional-grade assets, providing Plume users with more on-chain yield options; PinLink: A DeFi infrastructure provider, working with Plume to introduce fragmented DePIN assets and yield opportunities to enhance ecological liquidity; Avalon finance: Avalon finance: Plume's BTCfi liquidity layer partner, focusing on the lending and circulation of BTC in the RWAfi environment, further expanding the application scenarios of on-chain assets; src="https://img.jinse.cn/7343883_watermarknone.png">

  Objectively speaking, the Plume team has a "technology + market" gene - members include Degen players from Web3 giants such as Coinbase, BNB Chain, and Galaxy Digital, as well as veterans from traditional finance and technology industries such as Robinhood, JPMorgan Chase, and Google, enabling them to better start from the complex needs of the traditional financial market and combine the unique advantages of blockchain technology to create a modular, compliance-friendly infrastructure.

  Overall, Plume has already built two huge and expanding ecosystems of new and old Web3 participants (covering the chain and Token fields) and traditional financial giants (involving the off-chain and RWA categories), with more than 180 applications and protocols accumulated, and the test network has attracted more than 3.75 million users, generating hundreds of millions of transactions, with remarkable results.

  The dual-wheel-driven cooperative network has also formed an ecological layout jointly promoted by new and old players in Web3 (on-chain, DeFi protocol) and traditional financial giants (off-chain, RWA). Plume has become an indispensable infrastructure role between the two, and is expected to become a rigid demand among rigid demands as the RWAfi ecosystem continues to be built.

  This further strengthens Plume's unique positioning as a "dedicated RWAfi full-chain infrastructure", which can directly capture the core value generated by RWA assets in tokenization, liquidity integration and on-chain operations - from asset casting to deep integration of DeFi scenarios, it can provide complete technical and ecological support, and truly realize the seamless transformation of traditional asset value to on-chain increments.

  From this perspective, this "full life cycle empowerment" is the unique competitiveness of RWAfi dedicated chains such as Plume. RWAfi public chains not only serve institutions and developers, but also directly face all RWA users, capturing the participation value of end users, thereby sharing the dividends of the large-scale growth of the entire pan-RWA ecosystem and becoming the core engine to promote the expansion of the trillion-dollar market.

  Interestingly, as a track closely related to regulation, Plume actually has a potential policy benefit that is easily overlooked: Plume's investor Katie Haun, who has served as an assistant prosecutor and digital currency coordinator at the U.S. Department of Justice, a former partner of a16z, and joined the Coinbase board of directors, can be said to be one of the few "critical few" in the current Crypto industry who deeply understands the far-reaching impact of U.S. regulation on the blockchain industry.

  This also means that her investment source background makes Plume closer to the center of regulatory policy, which is undoubtedly a positive signal for Plume. With the gradual improvement of the US regulatory framework, especially after January 20, a series of crypto-friendly people in the Trump cabinet took office, Plume is expected to become the RWAfi project closest to the "core of US regulation", thereby directly enjoying the greatest policy support and market dividends.

  Conclusion

  The wind starts from the end of the green duckweed, the logic of the market has always been a grass snake, and the value discovery of all narratives has its inherent development logic.

  It can be said that RWAfi is one of the few narrative directions that can build a bridge between the on-chain and off-chain. Its potential comes from both the innovation of Web3 and the stock dividend of the huge assets of traditional finance.

  The value of the RWAfi public chain is self-evident - as the infrastructure that can truly upgrade the RWA tokenization to the "RWA asset Internet", it provides a practical answer to the $100 billion growth of the RWA narrative.

  As for whether leading players like Plume, who are both on-chain (DeFi) and off-chain (traditional financial institutions), can stand out in the future, it depends on whether it can continue to attract developers and consolidate the ecosystem, so that the on-chain and off-chain integration of RWA can truly prosper. After all, it is a blue ocean that no one has occupied, and the opportunity has just begun, and everything is unknown.