Plume's Taking Over the RWA Front

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For this week’s Tuesday episode, I interviewed Chris Yin, Co-founder and CEO of Plume Network — a blockchain built for real-world assets (RWAs). Backed by Brevan Howard, Haun Ventures and others, Plume launched mainnet in June 2025 and already accounts for over half of all RWA holders in crypto.

Chris shares how Plume went from a structured product app to a full L2 chain, why most tokenized assets fail, and what it takes to make RWAs actually usable. From community-led DeFi to bottoms-up UX, he breaks down Plume’s strategy for bringing the next billion users onchain — and why traction beats headlines.

Timestamps

0:00 – What is Plume Network?
1:32 – Chris’s background: DeFi summer, yield farming, and app-layer insights
2:15 – Why most tokenized assets fail: no usage, no velocity
4:03 – Why Plume had to build its own chain
5:42 – Tokenization isn’t enough — here’s what else matters
8:01 – RWAs as crypto’s biggest opportunity (bigger than all DeFi)
9:33 – Stable yield, composability, and how users interact with assets
12:16 – What makes tokenized assets actually usable
14:00 – Top-down vs bottoms-up tokenization
16:00 – Mineral Vault: onboarded 80K holders in a month
19:12 – Plume’s Phase 2: onboarding non-crypto users
20:30 – Why real traction > flashy launches
22:41 – The real numbers behind RWA growth
25:50 – Plume’s 2025 goal: $1B in clean, onchain RWA value
27:48 – Structured products will unlock the next wave
30:50 – Long-term vision: an onchain BlackRock
32:10 – It’s not about one asset — it’s the full stack
36:36 – Honoring Co-Founder Eugene Chen
39:25 – Final advice: focus long-term, but adapt fast

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Money and people moves

1. dYdX acquired Pocket Protector and brings on Eddie Zhang as president

2. Polymarket re-enters US market with $112M acquisition of derivatives exchange QCEX

3. Trump Media Buys $2 Billion in Bitcoin for Crypto Treasury Plan (Bloomberg)

Talking points for the road

Crypto-focused headlines or research that caught my eye…and should catch yours, too.

1. NFTs are…back?

   1. Total NFT market cap rebounds past $6 billion; whale buys 45 CryptoPunks for over 2,000 ETH (The Block)

2. Tether's CEO Says USDT Is Coming to America—And Circle’s CEO Isn’t Afraid (Decrypt)

3. BitGo files proposed initial public offering with the SEC (Blog)

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Please note that this content is for informational and entertainment purposes only. Any views shared should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research. We may have a direct or indirect financial interest in content mentioned in this newsletter.