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You must have helped your family keep track of accounts, right? What vegetables were bought, how much money was spent, all clearly recorded in a notebook. But if the account book is lost or someone alters the numbers, then where the money was spent becomes a total mess—The 'state root hash' on the Plasma chain helps solve the troubles of 'losing the account book or altering it.' To put it simply, it's like the neighborhood vendor Pupu, who takes a picture of the dried fish account book every day after closing and locks it in the neighborhood property safe, so there's no fear of losing it or someone messing with it.
First, understand: state root hash = Pupu's 'condensed photo of the account book,' one image holds all transactions.

Xiao Li used to make small mobile tools. Last year, he heard that Plasma released 100 million dollars in 'developer bonuses'—specifically for providing subsidies to those creating small applications on Plasma. He tried making a 'cross-border payment bookkeeping tool' to help small shop owners in Africa record USDT payments and automatically calculate profits. Not only did he receive 2 million dollars in subsidies, but he can also earn 10,000 dollars in membership fees every day. This situation is exactly the same as Pu Pu relying on the 'Dried Fish Order APP' to obtain subsidies and earn small money.
First, let's break down the 'Three Steps to Making Money': first, use subsidies to create a product, then rely on users to earn long-term income, which ordinary people can also replicate.

Xiaowang's sister is studying in Australia, needing to transfer 1000 US dollars for living expenses every month. He used to always use Alipay, until last time when he helped his cousin in foreign trade transfer payment, he discovered the 'effortlessness' of Plasma for transferring money - transferring the same amount, Plasma costs less, arrives faster, and there are no limits on the amount. This situation is exactly the same as when Pupu transferred money for dried fish to his cousin overseas.
First, let's calculate the 'real money account': transferring 1000 US dollars, cost 50 US dollars for Alipay, and only 2 US dollars for Plasma
Xiaowang first used Alipay to transfer living expenses, thinking 'it's convenient enough', until last time when he carefully calculated the accounts, he found that the 'hidden costs' were quite a lot.

It's not just casual convenience, large expenditures require 'face recognition'.
Aunt Zhang stored USDT with her phone number, transferred 50 yuan to her grandson to buy stationery, and just entered a verification code; it was especially convenient; but last time she wanted to transfer 2000 yuan to her son back home, the app prompted 'face recognition required'—this isn't Plasma 'making things difficult', it's to prevent someone from misusing the phone number to transfer large sums of money, specifically set as a 'security threshold'.
Just like Pupu's dried fish shop: customers can take 10 bags of dried fish and just provide their phone number; but if they want to take 100 bags, Pupu has to ask the customer to show their ID to confirm it's them—lightweight verification's 'convenience' has boundaries, it needs to find a balance between 'worry-free' and 'security', so that elderly people can truly feel at ease storing large amounts of money.

No need to remember a 16-digit password, just report your phone number.
Aunt Zhang sells vegetables at the entrance of the community. Recently, I've been hearing neighbors say, 'Storing USDT can earn some interest, it's more cost-effective than putting it in the bank.' But when she inquired, she got scared: 'I have to remember a long string of passwords, both numbers and letters. With my memory, I'll forget it by the next day! What if I forget? Then won't the money be gone?'
This situation is exactly the same as the trouble Pupu had when running the dried fish store—originally, Pupu had customers store dried fish, and they had to set a 16-digit 'pickup password.' The elderly often mixed them up; some wrote them down on paper and lost them, and some entered them incorrectly three times and couldn't pick up their goods. Later, many people simply stopped storing them. It wasn't until Pupu changed it to 'report your phone number for pickup' that everyone felt safe storing dried fish. Plasma's 'lightweight verification' is a convenient way for the elderly to store USDT by allowing them to 'report their phone number for pickup.'

Mba opened a small shop in Nairobi, Kenya, selling local handmade soap, dried mango, and daily necessities imported from China—many orders come from overseas: compatriots working far away in Dubai want to send money to buy soap for their families, and international students in the U.S. want to stock up on dried mango. But previously, collecting these overseas payments gave Mba headaches every day until he used @Plasma Plasma, which finally filled the 'money collection pit'—this situation is exactly the same as Pupu's experience running a dried fish shop in Africa.
Let me first talk about how much it used to be a hassle: receiving money via Western Union, losing 10 dollars from 100 dollars, and having to wait 3 days

If Pupu wants to set up a dried fish stall, looking for the most reliable person to guard the warehouse while also wanting customers to pay directly with cat food, what do you suggest? Bitcoin on Plasma does just that—acting as both a "security guard" to monitor the place and as "pocket money" for direct payments. The core idea is simple: using Bitcoin's "reliability" for security while allowing it to be spent directly without extra hassle, just like the Bitcoin security guard Pupu hired who "watches the door and collects payments".
Let's first talk about this "dual-purpose" magic: Bitcoin is both a "solid security guard" and "convenient pocket money", so there's no need to find two helpers separately.

If the long-term residents in the community are used to the cheap and fast old courier services, will you squeeze in to grab the business, or will you look for opportunities in the remote new buildings? Plasma chose the latter—ignoring the mature markets in Europe and America, it decided to delve into Africa and Southeast Asia for cross-border remittances, with one core reason: the 'old courier' here is both expensive and slow. It delivers 'free dried fish,' and it's a sure bet to grab it, just like Pu Pu monopolizing the business in the new buildings.
Let’s talk about how 'tricky' cross-border remittances are in Africa and Southeast Asia—this is not a minor hassle; it’s a real pain point in terms of hard cash, which just happened to give Plasma an opportunity.

If you opened a trendy snack stall and your business was booming to the point of needing expansion, would you buy land, build a shed, and renovate it yourself, or would you directly move to a mature food market? Aave and Curve, these crypto projects, chose the latter—rather than exerting effort to build their own 'business street' (public chain), they instead clustered together in Plasma. The core reason is simple: save costs and earn money quickly. Why not take advantage of existing benefits? This is similar to stall owners eagerly moving into the 'Pupu Distribution Station'.
Let's talk about the most enticing 'free packaging box'—EVM compatibility. This is not just a simple 'usable'; it genuinely helps projects save half their life.

Some may find 'registering identity and being monitored' cumbersome, but this is actually Plasma's confidence in obtaining a 'legitimate license', which allows everyone to use it with peace of mind. Plasma has acquired an Italian company and obtained the EU-recognized VASP license (Virtual Asset Service Provider license), just like a legitimate business license, so property management will no longer randomly check stalls, and customers do not have to fear being involved in 'money laundering disputes'.

With this license, all operations of Plasma must comply with the EU MiCA regulations and anti-money laundering rules. Each transaction record will be kept for at least 10 years, providing regulatory protection and proving that users' funds are clean. For ordinary users, compliance brings not trouble, but a sense of security — no need to worry about their accounts being linked to illegal activities, and no fear of the platform being shut down for non-compliance, just like shopping in a legitimate supermarket, without having to worry about the legality of the source, and being able to consume and save with confidence.

Plasma's first line of defense is the requirement to verify identity for large transactions, akin to Popu's rule of 'registering for 1000 packs of dried fish'. Regardless of whether it's depositing or transferring USDT, if the amount meets regulatory standards, identity verification (KYC) must be completed — submitting identification and conducting facial verification to confirm you are a legitimate user and not attempting to launder money. Previously, bad actors tried to bypass regulations by breaking down transactions into smaller amounts; this strategy no longer works, as the owner of each fund can be accurately identified.
More critically, the second line of defense is the 'suspicious order alarm'. Plasma is equipped with the world-class Elliptic blockchain monitoring tool, similar to Popu's alarm that can identify anomalies like 'anonymously purchasing large amounts' or 'frequently changing accounts to buy'. This tool monitors the flow of every USDT transaction. Whether the funds originate from fraudulent or gambling-related addresses, or if someone is repeatedly splitting transfers and taking circuitous routes across platforms, the alarm will be triggered immediately, and staff will intervene for verification without delay. In Q3 2025, Plasma intercepted 2300 suspicious transactions in a single quarter, just like Popu's recent interception of a 'mouse order that bought 1000 packs without leaving a name', effectively cutting off the route for money laundering at the source.

In the past, when passing by the dried fish store, the elderly would always linger at the entrance—not because they didn’t want to buy, but because the store only accepted 'cryptocurrency.' After fiddling with their phones for a long time without understanding, they would eventually shake their heads and leave. Recently, however, the dried fish store put up a new sign: 'Accepts cash, deposits dried fish for interest, swipes cards to buy snacks.' Now even Grandma Zhang next door comes every day, saying, 'No need to remember all those twists and turns; it’s as convenient as storing vegetable money!'
Plasma One is like an upgraded version of the dried fish store, transforming tasks like 'storing USDT, swiping a debit card' in the blockchain into 'foolproof operations' that anyone can master without understanding 'smart contracts' or 'Gas fees'; just go with the flow.

Pupu took out 40% of the fish jerky as a 'cooperation reward'—giving the cat food stall owners who come to set up shop a 3-month rent exemption (developer subsidy) for mutual benefit, resulting in more construction, and sending trial packs to customers who continuously buy fish jerky (user airdrop$XPL
), increasing the speed of dissemination, seemingly at a loss, yet attracting more business.
Pupu invited the most popular cat food stall in the community to collaborate and bring foot traffic. In fact, this is an 'accurate placement' of incentives: 800 million pieces of instant unlockable XPL specifically to bring in top DeFi (such as Aave) to settle in.

Pupu issued 'installment fish jerky salaries' to employees to prevent them from taking the fish jerky after working for a few days and leaving. This is the lock-up release of Plasma, where the team/investors' XPL must wait 1 year to start receiving, avoiding a situation where they take the tokens and run, with no ongoing construction and promotion.

#boosterzkPass Go for it, first come first served, the zkPass Booster event has started
Requirement: #ALPHA Alpha score greater than 61 is required to participate
Path: Binance - Wallet - Discover - Booster

1) Click in, click join to participate
2) The first step is to follow, need to use a VPN
3) The second step is to forward, also need to use a VPN
4) The third step is to click to complete the task and go to the zkpass official website, connect the wallet, and complete in order

The first one is to complete directly, the second one needs a wallet balance greater than 100 dollars, completing the first two can go out and click to complete ✅
The third one requires completing the first two steps, and also needs to have participated in two boosters from the previous series (Hemi, Openledger, Holoworld, Astra Nova). If completed, just try a few more times if it fails.

In the cryptocurrency market, there are many public chains that have stood the test of time and established their own ecosystems. So, did Plasma establish its own chain separately? Let's analyze it from the vertical integration logic of 'stablecoins + public chains'.
Today's main character is still Popu. Using an analogy, Popu's dried fish (USDT) used to rely on the neighborhood's old delivery service (chains like Ethereum and Tron) for distribution. It often encountered situations where delivery was delayed, causing the dried fish to not arrive, and delivery fees kept increasing. The speed and cost were controlled by other delivery services (chains), which could also lead to the loss of major clients due to old delivery services going on strike. This involves Tether's 'control anxiety': in the past, USDT relied on third-party chains, and congestion on Ethereum or regulatory risks on Tron directly affected the availability of USDT.

The gray and white striped Pupu squats in front of the community bulletin board, watching as the poster for “zero-fee dried fish delivery” is surrounded by people—previously, delivering dried fish relied on the community's old delivery (Visa, Mastercard), which was slow and charged 10% delivery fees; now with its own Plasma delivery method, it’s fast and free, even customers from the neighboring city come to order dried fish.
In fact, Pupu's small delivery station hides three major disruptive changes brought by Plasma to the entire industry, influencing everything from traditional delivery to other snack stalls with this cat's new method!
First change: Is traditional delivery unused? Zero-fee lightning delivery snatches business

Third step: Let the whole world recognize (after 2028) — compliant store opening to build a global brand
“In the future, I will open branches in other cities!” Pupu jumped happily with the “store opening license” — when opening a branch in the EU, the shelves are set up according to the local “waste classification regulations” (GDPR compliance node); when opening a branch in the United States, the dried fish is made according to the local “hygiene standards”, and each store in every city complies with local regulations, so there is no fear of fines. This is the third step of Plasma’s “global compliance”: establishing localized nodes in major economies to meet data and regulatory requirements of various countries and ensuring compliance wherever we go.

Step 2: Let more people have access to food (2026-2028) — Expand flavors to attract customers from the whole city
"The customers in the community are tired of the original flavor dried fish!" Pupu's eyes lit up as she looked at the new products on the shelf — now it not only sells the original flavor but also launched 'Indian Curry Flavor' and 'Brazilian Barbecue Flavor' dried fish (corresponding to sovereign stablecoins), specifically customized for neighbors who like different flavors. The plan for 2026 is to introduce 5 new flavors to attract people from surrounding communities to buy. This is the second step of Plasma's 'Ecological Expansion': helping countries like India and Brazil issue on-chain fiat currencies, allowing people from different countries to trade on Plasma using their familiar currencies.

Since the United States lowered interest rates by 25 basis points at the end of October, mainstream cryptocurrencies like $BTC $ETH have experienced significant declines. Although interest rates were cut, liquidity diminished, and the ongoing government shutdown in the U.S. is partially to blame. Let's take a rough look at the situation.
1. Liquidity siphoning: The TGA account of the Treasury increased by 1.2 times

• Capital accumulation scale: The balance of the Treasury General Account (TGA) surged from $300 billion in July to $1 trillion, reaching a nearly five-year high, equivalent to withdrawing $700 billion in cash from the market within three months.
• Transmission mechanism: