Plasma is an open-source Layer-1 built around the actual operation of modern finance: velocity, liquidity, and stability. The network provides developers with Ethereum performance with full EVM compatibility as offered by Reth, but with sub-second finality as offered by PlasmaBFT. This renders Plasma particularly apt payment rails and financial applications where cost and latency are important.
What is really unique about Plasma is that it is a stablecoin first construction. Such characteristics as the ability to transfer USDT without using gas and the option to pay fees in stablecoins eliminate both user-level and institutional friction. Plasma adapts blockchain to stablecoins instead of compelling more generic blockchains to accommodate them.
The financial product will be based on liquidity, and Plasma is now demonstrating that it is waterproof. The second largest on-chain lending market in the world is also hosted on the network and this is a pointer to real demand and high level of capital efficiency. Such a high degree of liquidity makes Plasma an infrastructure that is made alive.
Plasma means that as builders develop new financial primitives using stablecoins to make payments and to build lending and settlement or DeFi protocols, stakeholders can start new protocols by making stablecoins the base underlying these protocols.