The story is told in flashbacks from the point of view of a 61-year-old Liu Bang, the founding emperor of the Han Dynasty. Liu Bang has been experiencing nightmares and living in fear and apprehension, as he constantly suspects that someone is trying to kill him. In his whole life, he has only been afraid of two persons: Xiang Yu, who fought with him for supremacy over China after the fall of the Qin Dynasty; Han Xin, a man who previously served Xiang Yu, but later became a general under him, and helped him defeat Xiang Yu. Liu Bang then reflects on key events in his life, such as the Feast at Hong Gate and the Battle of Gaixia. Among all his subjects, Liu Bang regards Han Xin, Xiao He and Zhang Liang as the three most important persons who assisted him in overcoming Xiang Yu in the Chu–Han Contention. However, he believes that Han Xin wants to rebel against him, and he has Han imprisoned for the past six years. Liu Bang reluctantly releases Han Xin and lets him stay in Zhang Liang's residence. Liu Bang's wife, the empress Lü Zhi, eventually forces Xiao He to lure Han Xin into a trap under the guise of inviting Han to attend a banquet. Han Xin was captured, charged with treason and executed, and his dead body was suspended inside a bell. Xiao He cuts off Han Xin's head and presents it to Liu Bang. Liu Bang also dies shortly after, and it is said that he finally found peace in death because he has been living in a life full of suspense and uncertainty.