With the launch of @PlasmaFDN approaching, there has been a lot of Pros & Cons, Shill, and Fud. What the market is most concerned about is - is the stablecoin public chain a highly imaginative track, and can it overturn Tron? Compared to @trondao, Plasma has two obvious advantages - Pros 1. Faster and cheaper, transferring USDT incurs zero fees, forcing Tron to recently "lower prices" by 60%, but there are still fees, it's not zero. 2. EVM compatibility, making it easy for blue-chip projects like AAVE and Curve to come over; the DeFi ecosystem on Tron basically only has Justlend with a TVL worth mentioning. As for the underlying consensus technology architecture, it really doesn't matter. The security of the BTC sidechain still relies on its own POS, and while it has some relation to BTC, it's not significant; seeing it as Merlin is also reasonable. Of course, the disadvantages are equally obvious - Cons 1. Although Tron’s USDT TVL has dropped from a high of 83B to 76B, it is still an order of magnitude higher than Plasma, which currently remains at a crushing lead. 2. USDT is essentially a product of regulatory evasion, somewhat like a Southeast Asian on-chain version of "EuroDollar" - (the concept of EuroDollar is something I learned from a video by @joyliumacro), so most USDT holders do two things - 1. Trade coins on CEX + transfer 2. Use it as a store of value for USD, holding USD indirectly, and withdrawing when needed. Therefore, "on-chain payments" are not the main use case for USDT. For points 1 and 2, Tron’s integration over the years has created a huge moat; Sun Ge @justinsuntron has not worked in vain in this area over the years. As for on-chain payments, the distribution channels I previously wrote about @tempo seem to have more advantages. Then we can talk about Shill and Fud. The points for Shill are that I have personally talked with the Founder and some Plasma ecosystem projects, and I feel they are still very solid. The main reasons I didn’t invest last year were that I didn’t see the future trend of stablecoin chains clearly, and I thought it was expensive under the big environment of 2024... Moreover, Plasma’s cooperation with Binance, AAVE, etc. shows that the resources are exceptionally good; not every chain starts with a base of 3-4B TVL, and being able to stabilize at a pre-market value of 6-7B after being listed on Binance is impressive. The point of Fud is that I saw someone today reveal that Plasma and the Blast team have a high degree of overlap; the truth of this is currently undetermined, as I have only talked to the Founder. Assuming it’s true, whether this is good or bad is subjective. Blast was also a project that was extremely popular back in the day, indicating that the team has ideas and can make things happen, but the downside is that they might dig a hole after grabbing the spotlight and leave it unattended, and once the hype is over, they just abandon it... I can only say that based on the feedback I received from the ecosystem project side, Plasma seems to still intend to build long-term and make things happen, and it is unlikely to end up like Blast, becoming "eunuch". So, Tron VS Plasma, old money VS new forces, which one do you favor?