Plasma, a L1 chain primarily focused on stablecoins, has been making frequent moves lately, with its core selling point being zero-fee USDT transfers. Sounds great, right? The actual experience is indeed smooth, with transfers arriving almost instantly, unlike on Ethereum where you always need to keep ETH as gas. Even better, you can directly pay miner fees with USDT, a design that significantly lowers the barrier to entry for ordinary users.
A comparison with Tron highlights the difference. While Tron holds a dominant position in the stablecoin market, with billions of dollars in USDT circulating daily, transaction fees have always been a concern. Plasma's zero-fee strategy is theoretically more competitive, especially in small-amount, high-frequency payment scenarios. However, the problem is also obvious—Tron's network effect is too strong, with deep integration across major exchanges and payment platforms. Plasma needs to come up with more killer applications to gain market share.
On-chain data shows that Plasma's daily active users will take time to recover from their decline; its average daily address size of 17,000 in January is incomparable to the scale of chains like Solana. Integrations like CoWSwap and Rain Card are being promoted, but penetration is still in its early stages. A 107% weekly increase in DEX trading volume looks good, but the base is too small, several orders of magnitude smaller than Tron's scale. Technological innovation is there, but ecosystem building needs to be accelerated; otherwise, relying solely on zero fees will hardly lead to a breakthrough. @Plasma $XPL
{future}(XPLUSDT)
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