Written by: Haotian
Seeing the market reporting that @plumenetwork has raised $20 million, my instinct tells me this will be a benchmark event driving the development of the RWA track. In simple terms: Plume has categorized all these challenges into the realm of RWAFi using a full-stack vertical integration technology framework and provides comprehensive infra+ compliance services. Let me share my thoughts briefly:
1) The evolution of the RWA track has never been systematic; the core business development logic involves a large asset injection on-chain + off-chain compliance and legal framework resource capabilities, as well as various 'experimental' application scenarios that cover a wide range of fields, such as tokenization of real estate assets, tokenization of art collectibles, tokenization of securities-type assets, tokenization of supply chain finance, tokenization of cross-border trade, etc.
You will find that these scenarios are very fragmented, but as projects like Ondo and Huma prototype in various vertical scenarios, the fragmentation of scenarios becomes increasingly rich; thus, platforms like Plume that aggregate services naturally emerge, reflecting the maturing of the RWA track.
2) Based on this premise, Plume has built a modular infrastructure specifically for the RWA track, such as a tokenization construction engine aimed at creating, registering, and managing RWA asset tokens, incorporating compliance and security considerations from the asset issuance stage to ensure that the starting point for the platform's RWA assets can achieve rapid, economical, and compliant deployment.
For example, Plume has built the Nexus on-chain data service, aiming to integrate reliable off-chain data and incorporate more real-time off-chain data into the blockchain system in the form of oracles, effectively customizing a dedicated oracle data pipeline suitable for the RWA track.
In addition, in response to fragmented compliance service demands, Plume leverages its platform's unified integration advantage to directly incorporate 'compliance' suppliers into the upstream supplier system of the platform's business to ensure that tokenized assets on the Plume platform can meet compliance and regulatory requirements from the outset.
Of course, some unified wallet asset management tools, including the integration compatibility of various token standards like ERC20, 721, 1155, 3643, and composability integration with other on-chain DeFi infra, will also be provided as a comprehensive service.
3) There are many technical frameworks on Ethereum's layer2 narrative such as OP Stack, ZK Stack, Polygon CDK, Rollup as a Service, etc., but these to B stacking framework logics can better sediment developers and quickly homogenize the deployment of some infra.
In contrast, Plume faces greater challenges in building modular integrated services in the RWAFi direction, primarily because existing on-chain DeFi infrastructure experiences cover aspects like on-chain token standards, wallet adaptation standards, and composability in the DeFi ecosystem, while off-chain compliance issues, oracle data credibility issues, on-chain liquidity volatility and regulatory divergence issues, and on-chain behavioral transparency and privacy protection issues remain.
There are too many challenges related to complexity in technology + operations + risk control waiting for Plume to solve.
However, as an RWAFi modular aggregation service platform, Plume's opening show has performed well, already accumulating over 180 applications and protocols, and the testnet has attracted over 3.75 million users, generating hundreds of millions of transactions.
This is actually not hard to understand; once the RWAFi aggregation platform effect is generated, it will naturally become a comprehensive portal for the RWA ecosystem, driving the RWA track to release its potential more quickly and efficiently.