Draft:Plume Network
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Plume Network (often shortened to Plume) is an open-source, modular layer-1 blockchain designed to bring real-world assets (RWA) on-chain and integrate them with decentralised finance (DeFi).[1] The network was founded in 2024 by Chris Yin, Eugene Shen and Teddy Pornprinya and is headquartered in New York City. Its Genesis mainnet launched on 5 June 2025.[2]
History
[edit]Seed funding and testnet (2024)
[edit]- May 2024: Plume announced a US$10 million seed round led by Haun Ventures and Galaxy Ventures.[1]
- Mid-2024: A private devnet processed about 280 million transactions during an eight-week test period.[3]
Series A, strategic investment and airdrop (2024–2025)
[edit]- 18 December 2024: Plume closed a US$20 million Series A round led by Brevan Howard Digital and Lightspeed Faction.[4]
- 8 April 2025: Apollo Global Management made a strategic equity investment in Plume.[5]
- 7 June 2025: Plume announced a retroactive airdrop of 120 million PLUME tokens to early testnet users and liquidity providers.[6]
Mainnet launch (2025)
[edit]- 5 June 2025: The Genesis mainnet went live with about US$150 million in tokenised assets bridged at launch and early integrations with Ondo Finance, Matrixdock and Superstate.[7]
Technology
[edit]Plume separates consensus, execution and settlement into distinct modules. The base chain uses Proof-of-Stake with an average block time of two seconds. Smart contracts execute in an Ethereum-compatible virtual machine, letting Solidity-based applications deploy with minimal changes.[8]
The “RWAfi Engine” provides built-in tools for issuer onboarding, KYC/AML screening and programmable compliance. Tokenised instruments use the ERC-1400 security-token standard and can be traded through on-chain order books and automated market makers.[9]
Tokenomics
[edit]The native utility token PLUME pays transaction fees, secures the network through staking and enables on-chain governance. Supply is capped at 10 billion tokens. On 12 June 2025 CoinMarketCap listed 2 billion PLUME in circulation, valuing the network at about US$216 million.[10]
Governance
[edit]Upgrades follow the Plume Improvement Proposal (PIP) process with stake-weighted on-chain voting. A Cayman-based foundation controls treasury assets and awards ecosystem grants.[11]
Reception
[edit]Forbes has called Plume “a leading RWA chain redefining asset tokenisation”.[12] CoinDesk highlighted interest from traditional finance after Apollo’s investment, noting that Plume “aims to bridge Wall Street and crypto”.[5]
Analysts have also pointed to unresolved regulatory questions around on-chain securities and the need for broader institutional adoption.[8]
See also
[edit]References
[edit]- ^ a b Kessler, Sam (23 May 2024). "Plume, Layer-2 Blockchain for Real-World Assets, Pulls $10M in Seed Funding From Haun, Galaxy". CoinDesk. Retrieved 12 June 2025.
- ^ Nijkerk, Margaux (5 June 2025). "Plume Launches Genesis Mainnet to Bring Real-World Assets to DeFi". CoinDesk. Retrieved 12 June 2025.
- ^ "Plume Network testnet records 280 million transactions". The Block. 29 May 2025. Retrieved 12 June 2025.
- ^ Sandor, Krisztian (18 December 2024). "Tokenized RWA Network Plume Raises $20M Ahead of Mainnet Launch". CoinDesk. Retrieved 12 June 2025.
- ^ a b Sandor, Krisztian (8 April 2025). "Private Equity Giant Apollo Invests in Real-World Asset Platform Plume". CoinDesk. Retrieved 12 June 2025.
- ^ "Plume Network Airdrop Guide". DropsBot. Retrieved 12 June 2025.
- ^ "Plume Network's mainnet launches with $150 million in real-world assets deployed". The Block. 5 June 2025. Retrieved 12 June 2025.
- ^ a b "Plume Network — Deep Dive". Token Metrics Research. 7 April 2025. Retrieved 12 June 2025.
- ^ "Plume Network overview". Messari. Retrieved 12 June 2025.
- ^ "Plume price today". CoinMarketCap. Retrieved 12 June 2025.
- ^ "Plume Foundation Launches Ecosystem Grants". Plume Blog. 14 March 2025. Retrieved 12 June 2025.
- ^ Dehni, Jason (8 September 2024). "Asset Tokenisation Could Awaken a Coming-of-Age for Investors". Forbes. Retrieved 12 June 2025.
Category:Blockchain Category:Free and open-source software Category:Cryptocurrencies Category:Internet properties established in 2024