After studying the paper @Plume - RWA Chain : it turns out it is addressing the final pain point - reconstructing BTC yield logic driven by RWA
Everyone knows that Bitcoin is "digital gold".
🔹But the problem is: currently, the $2.2 trillion BTC globally is mostly lying in cold wallets and ETFs, doing nothing. It's like gold sitting in a safe; it retains value but doesn't earn money.
🔹Here comes the question: how do traditional lending and DeFi models make money?
By issuing new coins as subsidies and relying on internal capital circulation. What’s the result?
Either it becomes frothy, or risks concentrate (like Celsius and BlockFi blowing up), or when the scale gets too large, returns get diluted.
🔸Plume's approach is quite different:
After collateralizing BTC, it connects directly to the real economy off-chain:
🔹Buy US Treasury bonds and money market funds to earn interest
🔹Invest in institutional loans and RWA products to receive cash flow
In this way, returns are not based on arbitrary subsidies but come from real cash flow.
Risks are also diversified across different protocols and assets, making it more transparent and safer.
🔹Most importantly: US Treasuries and the global market are large enough, with no ceiling, capable of absorbing trillions of dollars in BTC.
🔸In simple terms: through Plume's design, BTC transforms from "dead asset" to "living capital". From the previous "digital gold", it upgrades to "profit-generating digital capital".
This not only supports financing and credit expansion in the RWA market but also serves as an entry point for real returns, helping holders share in the dividends of global economic growth; it promotes the integration of DeFi and TradFi, allowing BTC to become a universally productive capital across chains, borders, and financial systems.