No.288
Plume PLUME
the appraiser that presses real-world treasures into on-chain cards
๐ญ part field naturalist, part licensed appraiser: slow, exacting, never excited by anything it cannot weigh and stamp
๐ฌ โHand me a building, a bar of gold, a slice of a bond. I weigh it, I stamp it, and it becomes a card that lives on-chain โ one you can hold, stake, and trade. My whole job is dragging the real world inside the ledger.โ
- The one idea: a Layer-1 blockchain built only for turning real-world assets (real estate, gold, bonds, ETFs) into tokens you can use in DeFi.
- 2024: founded in New York; raised a $10M seed, first pitched as an RWA Layer-2.
- June 2025: the โPlume Genesisโ mainnet went live as a full-stack Layer-1.
- PLUME pays gas, can be staked, and votes. Supply is capped at 10 billion โ big, with unlocks running into 2028.
๐ The Story
2024, New York City. Three founders set out to fix a stubborn problem: the most valuable things on earth โ office towers, gold, government bonds, credit โ live entirely off-chain, far from the fast, programmable world of crypto. Chris Yin (CEO), Eugene Y. Q. Shen (CTO, who had built at dYdX and Robinhood), and Teddy Pornprinya (CBO, ex-Binance and Coinbase Ventures) wanted a blockchain whose only job was bringing those real-world treasures inside. They named the goal RWAfi: real-world-asset finance.
That May the idea raised a $10M seed from Haun Ventures and Galaxy Ventures. The first pitch was a Layer-2 โ a helper chain riding on top of another network. But the team decided a helper wasn't enough for what they had in mind, so they repositioned Plume as a full-stack Layer-1: its own chain, with its own rules.
June 2025. The โPlume Genesisโ mainnet opened its doors, with tokenized real-world assets already deployed and a crowd of active wallets on day one. The appraiser was finally open for business.
The year was not only triumphant. In May 2025, co-founder and CTO Eugene Shen passed away, and the PLUME token sold off on the news โ a sober reminder that behind every chain are real people.
๐ Stats
๐งฉ How it works
Picture Plume as a hub. Off-chain treasures โ a building, a bar of gold, a slice of a bond โ feed in from every side, and the chain stamps each one into an on-chain token. From that same hub the tokens fan back out into DeFi, where they can trade, lend, and stake like any other crypto. Because Plume is EVM-compatible, builders use the same smart contract tools they already know from Ethereum. The network runs proof-of-stake style, so PLUME is staked underneath to help keep the hub secure, and it also pays the gas. To smooth the money side, the ecosystem ships its own stablecoin wrapper, Plume USD (pUSD), built on USDC.
๐ Light & Shadow
- A clear, single purpose: it is one of the few chains built from the ground up only for real-world assets, not a general chain that added RWA later
- EVM-compatible, so Ethereum developers and tools work here with little friction (faster for builders to move in)
- A founding team with real rรฉsumรฉs from dYdX, Robinhood, Binance, and Coinbase Ventures, backed by Haun and Galaxy
- Very young. Mainnet only opened in June 2025, so its track record and security history are still short
- Supply is large and still unlocking. With a 10 billion cap and vesting running into 2028, new PLUME keeps entering the market (price pressure as tokens unlock)
- Tokenizing real assets means leaning on rules, custody, and legal paperwork โ if the off-chain side fails, the on-chain token is only a wrapper
- It competes in a crowded RWA race against Ondo, Centrifuge, MANTRA and others, and lost its CTO in 2025
๐งฌ Evolution lineage
Plume is not a fork of anything โ it is its own Layer-1. But because it is EVM-compatible, it belongs to the broad Ethereum tooling family, and it shares the RWA niche with separate chains like Ondo and Centrifuge.
๐งญ Meet other friends
โ FAQ
- What is Plume?
- Plume is a Layer-1 blockchain built for one job: turning real-world assets, like real estate, gold, or bonds, into tokens that can trade and earn inside DeFi. The team calls this idea RWAfi, short for real-world-asset finance.
- What is the PLUME token used for?
- Three jobs. It pays the gas fees for transactions, it can be staked to help secure the network, and it lets holders vote on governance decisions. So it is the fuel, the lock, and the ballot all in one.
- Is PLUME scarce like Bitcoin?
- Not really. Supply is capped at 10 billion PLUME, with about 5.76 billion in circulation. The rest unlocks slowly on a vesting schedule that runs into 2028, so the supply keeps growing for years, unlike Bitcoin's fixed 21 million.
- Is Plume a fork of another coin?
- No. Plume is its own independent Layer-1 with its own chain and token. It is EVM-compatible, meaning it speaks the same language as Ethereum and its tools, but it does not share code with other RWA chains like Ondo, Centrifuge, or MANTRA.
โ ๏ธ Not investment advice. All figures are for information only