Plasma (XPL)

anytime xpl pumps double digit, always sell lmfaoo

seeing a lot of $XPL fud on the TL after the recent outperformance so here's my honest take on all of it:

1. "unlocks = dump" — no. tokens become transferable, not auto-sold. yes there are unlocks coming up for team/investors (who are locked 3yrs with a 1yr cliff), but none have sold on record, and dumping a book this thin wrecks their own exit of the remaining 75%+ right when the tech is actually rolling out (plasma one cards).

2. some X folks are saying they sent "150m to binance = insiders selling" — transfers aren't sales. show me a realized sell, not a wallet move. nobody has. likely this is for MMing or some other reason (treasury management etc).

3. "ex-blast farm team" — team says ~3 of 50 had ties. that's really not a reunion. i'm sure blast had a lot of smart folk and farms don't ship a regulated visa card live in 180+ countries with tether's wallet + hadron plugged in.

4. "no xpl demand / chain earns nothing" — correct by design. zero-fee is the product. demand comes from staking + card-tier locking (the same cro playbook that locked billions) and being the value layer for tether's whole ecosystem. tens of millions of xpl locked in plasma one's first day, with the rate only increasing w/ time -- as ecosystem grows we should see more use of $XPL.

none of this are things to be ignored, but there is no reason to make them seem worse than they are just for the sake of it. imo this is still the best play to get stablecoin narrative/adoption upside (which will likely become the dominant TVL in crypto) -- will also drop another post on some math modelling of where this can go under different future scenarios.