In the Blockchain field, Real World Assets (RWA) is becoming a hot topic. Recently, two projects have garnered widespread attention: $ONDO and $PLUME. Although both are involved in the RWA field, they actually represent two completely different development directions.

$ONDO is considered the leading project in the current RWA space. It has a strong project background and numerous endorsements, even acquiring Oasis Pro. $ONDO primarily focuses on tokenizing traditional financial assets and excels in compliance. It can be said that $ONDO represents the trend of "Wall Street on the blockchain."

In contrast, $PLUME takes a completely different approach. It adopts a main chain plus platform model, aiming to become the backbone of RWA DeFi access. If $ONDO is "Wall Street on the chain," then $PLUME can be seen as "Wall Street on the chain."

The differences between these two models can be likened to the distinctions between JD.com and Taobao. JD.com offers standardized and reliable services, while Taobao provides greater space for innovation and diversity. $ONDO focuses on the blockchain of traditional financial products such as U.S. Treasuries and U.S. stocks, primarily addressing the issues of channel and asset fragmentation. However, this model may lack imagination and feels more like a continuation of traditional industries.

On the contrary, the real vitality of RWA lies in innovative DeFi applications. We should explore how to leverage new credit systems to enhance the vitality of real assets. For example, if there is decentralized infrastructure in the domestic market, could projects like $PLUME assist in debt restructuring or digesting real estate inventory? This idea showcases a huge imaginative space and potential impact.

Overall, while the purchase of traditional financial products does not necessarily rely on Blockchain, the development of the RWA track is opening up new possibilities for financial innovation. In the future, we may see more innovative applications that combine the advantages of traditional finance and Blockchain technology.