The potential for stablecoin payments has not been fully realized yet. Plasma's public chain approach is a bit different—focusing the ecosystem core on USDT/USDC transfers and settlements, with zero fees and direct stablecoin gas payments, which is indeed rare in the market.

Compared to mainstream solutions, what are the advantages of Plasma? First, the fee aspect is unbeatable—USDT transfers are zero-cost. Although Tron is cheap, it still costs about 2-3 dollars per transaction, and Ethereum layer 2 solutions don't save much either. For high-frequency micro-payments, this difference is quite significant. In terms of performance, anchoring the state root to Bitcoin means inheriting Bitcoin-level security, and the consensus layer can achieve sub-second finality, with a target TPS exceeding 1000. This level is not bad among current L1 and L2 solutions.

The compatibility with EVM on the tech stack reduces migration costs significantly, making it easier for DeFi projects to switch over. Even more interesting is that it is natively optimized for stablecoins, integrating payments and settlements, which makes it much more specialized than general-purpose public chains. Coupled with Tether's backing and institutional support, they are also pushing for VASP licenses and MICA compliance frameworks, meaning the regulatory access threshold for institutions is gradually lowering.

The XPL token is tied to network governance, validator node staking, and ecosystem incentives. Its ultimate value depends on how large the stablecoin payment scale can grow. In the short term, since the mainnet has just launched, TVL and trading volume are still climbing. Coupled with weak market sentiment and supply pressure, the price may experience some volatility for a while. The key to long-term value lies in the improvement of the fundamental aspects—ecosystem deployment progress, regulatory compliance advancement, and actual breakthroughs in payment applications. These three factors will determine the final trajectory of XPL.