Sometimes you need a vector of a logo or simple image. There are times when it is annoying to turn on another tool to pick up a path while working with Figma. There are also images that are difficult to create by hand. Image tracer is a simple figma plugin that converts bitmap images to vectors.
Similar to the tracing technique found in Adobe Illustrator. You can adjust the bitmap image quality, and adjust the smoothness and curvature. It can't define paths and points as precisely as Illustrator, but it's a good plug-in for quick vectorization.