Revolutionizing Real-World Asset Tokenization: Alpha from Plume Network AMA Session

8 min readMay 17, 2024

Introduction:

In a recent and highly anticipated Ask Me Anything (AMA) live text session, the Plume Network team opened the floor to the community, addressing a myriad of questions and providing in-depth insights into the project’s vision, technology, Plume modularity, and the anticipated incentivized testnet. As a platform dedicated to democratizing access to Real World Asset (RWA), Plume Network has been generating significant interest among investors and enthusiasts alike. This article delves into the key highlights from the AMA, offering a comprehensive overview of the project’s goals, key benefits, and potential impact on the RWA ecosystem.

Live Questions & Answers

Brief information about the guest: Teddy is one of the co-founders of Plume Network. To dive into his background, he kicked off his career in finance, working on mergers and acquisitions in San Francisco while dabbling in trading crypto on the side. He jumped at the chance to blend M&A with venture capital at Coinbase right before they went public. Little did he expect, this move would turn his casual interest in crypto into a full-blown obsession. As he got more involved and started investing in various crypto start ups, he realized that being on the operating side was way more of his vibe. He dove deeper into the scene by joining a DeFi protocol as their Head of Business Development and later took on the role of BD Lead for BNB Chain at Binance. Despite being a wide ride, it gave him all the insights and experience needed to launch Plume Network as he saw the growing vertical of RWA projects needing more support on the infrastructure side that wasn’t really offered at a chain level.

Let’s dive into the Q&A below:

Q: Can you give us a brief overview of what Plume Network is and its main goals?

A: Plume Network is the first modular L2 blockchain dedicated to all real-world assets that integrates asset tokenization and compliance providers natively on chain. Our mission is to simplify the convoluted processes of RWA project deployment and offer investors a blockchain ecosystem to cross-pollinate and invest in various RWAs. In addition, Plume Network enables RWA composability through its thriving DeFi applications and provides access to high-quality buyers to increase liquidity for all RWAs. Through the various projects in our ecosystem, we provide crypto use cases — borrow/lend, trade, speculate, yield farm, etc. — to RWAs in order to uncover net new liquidity. Our team comes from Coinbase, Robinhood, LayerZero, Binance, Galaxy, dYdX, and several other category defining companies that give us a distinct advantage in revolutionizing this market. Currently, 81+ projects are building on us, further solidifying our position in the market.

Q: Moving on to real-world assets, how does Plume Network plan to bridge real-world assets with blockchain technology?

A: At Plume, we’re leveraging our unique blockchain architecture to create a seamless bridge between real-world assets and the blockchain. We integrate asset tokenization and compliance directly into our L2 solutions, which enables a more efficient, secure, and compliant way to bring real assets onto the blockchain. We’ve also made chain level modifications to optimize for RWA operations (on-chain attestation, kyc, data sampling, etc.). Additionally, since we’re a modular blockchain, we are able to leverage DA layers like Celestia and EigenDA to exponentially reduce our gas fees, unlocking hyper scalability. This approach not only simplifies the process but also enhances trust and accessibility for asset issuers and investors!

Q: What are the key benefits that users can expect from using Plume Network for RWAs?

A: Users can expect to come to plume with no previous experience in tokenization and use our infrastructure to deploy any sort of asset class. several key benefits also include increased liquidity for tokenized assets, reduced entry barriers, and enhanced security and transparency. Our platform also offers lower transaction costs and faster settlement times, which are critical for real-world asset transactions, as mentioned before. It’s important to note that we are community first and want to create a fun environment for people to interact with RWAs while still staying compliant. We are creating use cases around RWAs that haven’t been seen before on a public network, providing people with the ability to borrow/lend, buy/trade, speculate, yield farm, etc. Additionally, Plume’s ecosystem currently support over 80 projects!

Q: What is the concept of modularity in Plume Network and how it enhance the platform’s functionality?

A: Modularity in the Plume Network means that our blockchain is designed to be highly customizable and adaptable. This allows developers and enterprises to easily implement specific features or compliance mechanisms suited to their needs without affecting the core network operations. This modularity not only enhances functionality but also ensures that the network can evolve with the changing demands of the market and regulatory environments. Tldr: gas fees will be 99% cheaper, allowing for more RWA projects to grow and flourish on plume.

Q: With so many platforms focusing on RWAs, what sets Plume Network apart from the competition?

A: Plume Network sets itself apart in the realm of real-world assets with several distinctive features. First, we are a permissionless chain with direct integrations of compliance measures into the blockchain that ensures all transactions are regulated from the outset, simplifying regulatory challenges for users. Additionally, leveraging Celestia’s data availability layer allows us to drastically reduce transaction costs to under $0.01, making it economical to tokenize even smaller assets. Our platform is also user-friendly, enabling anyone to tokenize assets with just a few simple steps. Also, since our team is crypto native, we know how to foster a fun community and approach to tackling RWAs with new use cases that haven’t been seen before. These capabilities make Plume Network a leader in seamlessly connecting real-world assets with blockchain technology.

Q: What are the upcoming features or developments that users can look forward to in Plume Network?

A: We’re excited about several upcoming features, including enhanced smart contract capabilities for more complex asset management, improved interoperability with other blockchains for broader market access, and new partnerships that will bring a diverse range of assets onto our platform. We’re also focusing on developing more user-friendly interfaces to make it easier for non-technical users to participate in the RWA space, specifically on Plume.

Q: Plume Network is launching its incentivized testnet soon. Teddy, can you tell us more about what this testnet will entail and what you aim to achieve with it?

A: Our incentivized testnet is designed to test and strengthen the network’s capabilities by engaging users and developers in real-world scenarios. Participants will be able to test transactions, tokenization, and various Dapps operations, helping us to identify and rectify any issues before the mainnet launch. The incentives are structured to reward active and valuable contributions to the network’s development and resilience. We’re also launching a campaign to go along with our incentivized testnet that will give you all opportunities to get involved with our ecosystem projects (in a fun and interactive way) while also farming some plume points!

Q: How can users and developers get involved in the testnet, and what opportunities will it offer for early adopters?

A: We’re thrilled about the interest in our upcoming testnet, and we’ll be announcing the details very soon. for users and developers eager to participate, keep an eye on our official channels for the announcement. this testnet will offer early adopters the opportunity to be among the first to explore our automated tokenization platform and benefit from extremely low transaction costs. participants will play a critical role in shaping the final product by providing valuable feedback on usability, features, and performance. it’s a great chance to influence the development of a pioneering platform in real-world asset tokenization. stay tuned for more information, you goons!

Community Question & Answer

Q: What strategy will you implement to bring non-crypto natives into your ecosystem?

A: Our strategy to attract non-crypto natives to the plume involves a few key approaches. First, we prioritize simplicity and accessibility in our platform design. This means creating user interfaces that are intuitive and require minimal technical knowledge, making it easy for anyone to tokenize assets and participate in our ecosystem. We also focus on educational initiatives, providing resources and support to help newcomers understand the benefits and operations of blockchain technology and asset tokenization. Since we are community first, we want to provide exciting use cases for our users being able to trade, borrow/lend, speculate, etc. on RWAs while still keeping the environment fun and compliant. This is what the goons want!

Q: What are the key milestones and upcoming developments on Plume Network’s roadmap? How do you envision Plume Network evolving to address future challenges and opportunities in the RWA space?

A: We have a super exciting announcement towards the end of next week. early incentivized testnet on the horizon and mainnet launch a few months after that. On partnerships, we’re broadening the types of assets that can be tokenized and forming strategic partnerships to extend our platform’s capabilities and reach. In regards to compliance, we’re integrating advanced compliance tools and planning to expand into new global markets that are conducive to blockchain and real-world asset tokenization. And looking ahead, Plume is committed to adapting to the evolving regulatory landscape and technological advancements in the RWA space. We’ll integrate the latest blockchain technologies to enhance scalability and the user experience, and we’ll explore how tokenized assets can support sustainable investment practices. Our goal is to remain at the forefront of bridging real-world assets, unlocking new investment opportunities, and driving innovation in asset tokenization.

Q: What is a plume goon?

A: All I can say is, this is the first step of our incentivized testnet campaign. Plume goons are meant to be loyal members of our community, and there’s a bunch of surprising announcements coming VERY soon.

Conclusion

In conclusion, Teddy, a co-founder of Plume Network, brings vast experience from finance, venture capital, and cryptocurrency, fuelling his passion for integrating real-world assets (RWAs) with blockchain technology. Plume Network stands out with its modular L2 blockchain dedicated to RWAs, which simplifies asset tokenization and ensures compliance. Users can expect enhanced liquidity, lower transaction costs, and faster settlements, making Plume a user-friendly platform. The upcoming incentivized testnet aims to engage users and developers, offering valuable rewards and opportunities for early adopters.

As Plume Network prepares for its mainnet launch, it is poised to lead the RWA space, evolving to meet regulatory demands and technological advancements. The platform’s strategy to attract non-crypto natives involves intuitive design, educational initiatives, and creating a fun, compliant environment. Plume is set to offer new investment opportunities, drive innovation in asset tokenization, and build a vibrant community of “plume goons” dedicated to the network’s growth and success.