宁凡
18年入圈，全靠机遇风口 盘感玩现货和合约 web3自媒体 | Twitter: 宁凡
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During the days when privacy coins were in turmoil, I took a closer look at Dusk.
At the beginning of February, privacy coins collectively retraced, and the market was in extreme panic with a bunch of privacy coins collectively liquidating.
To put it bluntly, pure anonymity is easily choked under strong regulatory pressure, but Dusk incorporates compliance into its protocol logic.
The Zedger it created is not just a pseudonym; it merges UTXO and account models specifically for the lifecycle management of restricted assets.
More importantly, the XSC set of confidential contract standards can turn securities rules into enforceable constraints without exposing sensitive information to the entire network.
The underlying virtual machine follows the WASM route and natively supports ZK-related operations, which greatly enhances the development efficiency for privacy contracts.
Architecturally, it separates into three layers to handle settlement and data availability, then stacks the EVM execution layer and privacy layer, reducing the cost of institutional access.
Recently, the pace of DuskEVM's advancement in the first quarter of 2026 has been repeatedly mentioned, which essentially brings Ethereum developers directly into the fold.
As for network security, don't overthink it; the starting staking threshold is clearly stated, and you can participate with at least 1,000 DUSK.
I am more optimistic about this approach; the transaction layer Phoenix has undergone complete security verification, and then the asset layer Zedger handles compliance gameplay.
So when the market fluctuates, I remain calm; I only care if this chain can serve both privacy and regulation well. This is the long-term strategy for DUSK.
@Dusk #Dusk $DUSK #dusk
At the beginning of February, privacy coins collectively retraced, and the market was in extreme panic with a bunch of privacy coins collectively liquidating.
To put it bluntly, pure anonymity is easily choked under strong regulatory pressure, but Dusk incorporates compliance into its protocol logic.
The Zedger it created is not just a pseudonym; it merges UTXO and account models specifically for the lifecycle management of restricted assets.
More importantly, the XSC set of confidential contract standards can turn securities rules into enforceable constraints without exposing sensitive information to the entire network.
The underlying virtual machine follows the WASM route and natively supports ZK-related operations, which greatly enhances the development efficiency for privacy contracts.
Architecturally, it separates into three layers to handle settlement and data availability, then stacks the EVM execution layer and privacy layer, reducing the cost of institutional access.
Recently, the pace of DuskEVM's advancement in the first quarter of 2026 has been repeatedly mentioned, which essentially brings Ethereum developers directly into the fold.
As for network security, don't overthink it; the starting staking threshold is clearly stated, and you can participate with at least 1,000 DUSK.
I am more optimistic about this approach; the transaction layer Phoenix has undergone complete security verification, and then the asset layer Zedger handles compliance gameplay.
So when the market fluctuates, I remain calm; I only care if this chain can serve both privacy and regulation well. This is the long-term strategy for DUSK.
@Dusk #Dusk $DUSK #dusk
Ning Fan talks about Plasma, relying on the underlying ledger to seize business.
In Ning Fan's eyes, the stablecoin market is still relatively stable in a bear market.
Combining the data from February 7 this year, the total market value of stablecoins is still around 307.1 billion US dollars, and it doesn't seem to panic much when the market drops.
Ning Fan understood this structure, realizing that the market is treating stablecoins as a cash layer rather than an emotional layer.
At the same time, another trending topic is even more exciting: Tether's financing ambitions have been temporarily shelved, and investors are not convinced by the 500 billion valuation.
This matter actually boils down to a sentence: everyone wants stablecoins to be more like financial infrastructure rather than like story companies.
Coindesk also mentioned that Tether's profit in 2025 is expected to exceed 1 billion US dollars, and the fourth quarter report is also signed by BDO.
Combining the data from February 7 this year, the total market value of stablecoins is still around 307.1 billion US dollars, and it doesn't seem to panic much when the market drops.
Ning Fan understood this structure, realizing that the market is treating stablecoins as a cash layer rather than an emotional layer.
At the same time, another trending topic is even more exciting: Tether's financing ambitions have been temporarily shelved, and investors are not convinced by the 500 billion valuation.
This matter actually boils down to a sentence: everyone wants stablecoins to be more like financial infrastructure rather than like story companies.
Coindesk also mentioned that Tether's profit in 2025 is expected to exceed 1 billion US dollars, and the fourth quarter report is also signed by BDO.
Ning Fan observes Vanar: when memory prices soar to absurd levels, on-chain data must learn to save money and make profits.
Recently, the PC industry has been facing some tough times. Intel's flagship graphics card Arc B770, which had been teased for a long time, has been canceled. The reason is quite simple: AI has driven the prices of video memory and RAM through the roof. The cost of making gaming graphics cards has skyrocketed. This is the reality of resource constraints in the real world. The more popular AI becomes, the more data there is, and the more expensive hardware gets. In the end, it forces all systems to do one thing: store less and store smarter.
There’s an even more thrilling statement along the same line. By 2026, data centers may consume most of the global DRAM capacity. Memory is no longer just an accessory; it is a strategic resource. For Ning Fan, this is crucial because the biggest issue with on-chain applications in the past has been the high cost of storage. Verification is even more expensive. When you ask enterprises to go on-chain, their first question is who bears the cost. Vanar's entry point is very 'practical'. It’s not just shouting slogans; it’s discussing a foundational logic to reduce costs.
There’s an even more thrilling statement along the same line. By 2026, data centers may consume most of the global DRAM capacity. Memory is no longer just an accessory; it is a strategic resource. For Ning Fan, this is crucial because the biggest issue with on-chain applications in the past has been the high cost of storage. Verification is even more expensive. When you ask enterprises to go on-chain, their first question is who bears the cost. Vanar's entry point is very 'practical'. It’s not just shouting slogans; it’s discussing a foundational logic to reduce costs.
Ning Fan Talks About Something Hard: The Compliance Privacy of Dusk is Quite Serious After the Stablecoin License is Opened
The Hong Kong Monetary Authority stated that it will issue licenses to the first batch of stablecoin issuers in 2026, and the number will be very limited. This signal indicates that the wild dollar narrative is about to tighten.
Once the license is issued, the market is first forced to upgrade not its marketing rhetoric, but its compliance internal control and auditability of fund flows.
In the same week, the Financial Stability Board pointed out that the $16 trillion government bond repurchase market has leverage and liquidity risks, which actually reminds everyone that finance is not just about ups and downs, but is a clearing system.
If you look over there on the chain, the scale of tokenized U.S. Treasury bonds has just crossed the hundred billion dollar mark, indicating that traditional rate assets are treating crypto as a new distribution channel.
Once the license is issued, the market is first forced to upgrade not its marketing rhetoric, but its compliance internal control and auditability of fund flows.
In the same week, the Financial Stability Board pointed out that the $16 trillion government bond repurchase market has leverage and liquidity risks, which actually reminds everyone that finance is not just about ups and downs, but is a clearing system.
If you look over there on the chain, the scale of tokenized U.S. Treasury bonds has just crossed the hundred billion dollar mark, indicating that traditional rate assets are treating crypto as a new distribution channel.
Recently, AI agents have focused their attention on the memory layer, and the Vanar project is quite clever.
In the agent circle, agents without memory are basically unusable; if you haven't used them much, you have to start over. Vanar's approach is a bit ruthless, with built-in vector storage and similarity retrieval on-chain; the data is not just for show, but is working memory that can be directly accessed by the agents.
Looking at the consensus aspect, it adopts DPoS while also incorporating a reputation system. The foundation first screens validators, and then the community uses VANRY to delegate staking. In simple terms, it raises the cost of wrongdoing while lowering the entry barriers. For those looking to develop enterprise-level applications, this is more pragmatic than empty talk about decentralization.
Finally, don't forget that its main focus isn't on shouting slogans but on real financial scenarios like PayFi and RWA. AI agents need to make payments, reconcile accounts, and trigger compliance; the chain must be able to verify the truth and operate stably. Vanar treats these as the main battlefield, and I think this approach is more like building infrastructure rather than just dealing with concepts.
@Vanarchain $VANRY #Vanar #vanar
In the agent circle, agents without memory are basically unusable; if you haven't used them much, you have to start over. Vanar's approach is a bit ruthless, with built-in vector storage and similarity retrieval on-chain; the data is not just for show, but is working memory that can be directly accessed by the agents.
Looking at the consensus aspect, it adopts DPoS while also incorporating a reputation system. The foundation first screens validators, and then the community uses VANRY to delegate staking. In simple terms, it raises the cost of wrongdoing while lowering the entry barriers. For those looking to develop enterprise-level applications, this is more pragmatic than empty talk about decentralization.
Finally, don't forget that its main focus isn't on shouting slogans but on real financial scenarios like PayFi and RWA. AI agents need to make payments, reconcile accounts, and trigger compliance; the chain must be able to verify the truth and operate stably. Vanar treats these as the main battlefield, and I think this approach is more like building infrastructure rather than just dealing with concepts.
@Vanarchain $VANRY #Vanar #vanar
Watching the excitement while observing the nuances: the tighter the regulation, the more serious Dusk becomes.
In recent days, India is preparing to strictly regulate the reporting of cryptocurrency transactions in 2026. If platforms do not honestly report, they may face fines or even imprisonment. Once this trend emerged, I knew compliance had become a hard requirement.
In the same wave of rhythm, there is a more intuitive action: exchanges are starting to discuss delisting privacy coins. The reason is simple: regulators need to track the flow of funds on the chain, and purely black-box operations are becoming increasingly difficult to navigate in the open.
With the addition of travel rules spreading globally in recent years, exchanges are increasingly required to relay information about both parties in a transfer. The so-called sense of anonymity is being pressed to change by reality.
In the same wave of rhythm, there is a more intuitive action: exchanges are starting to discuss delisting privacy coins. The reason is simple: regulators need to track the flow of funds on the chain, and purely black-box operations are becoming increasingly difficult to navigate in the open.
With the addition of travel rules spreading globally in recent years, exchanges are increasingly required to relay information about both parties in a transfer. The so-called sense of anonymity is being pressed to change by reality.
Ning Fan's Classroom｜When regulatory debates arise, Plasma's stablecoin infrastructure becomes more serious.
Recently, there has been another debate in the U.S. about the cryptocurrency bill, and the core contradiction is whether to ban the earnings and rewards of stablecoins.
Fan Fan's first reaction to this kind of debate is not to take sides, but to see whose product form can survive in the regulatory gap.
Coincidentally, the CFTC just updated its definition of 'payment stablecoins' on February 6, subtly steering the conversation towards a compliance framework.
In this large environment, Plasma's focus on 'stablecoin payment infrastructure' is not just a gimmick, but a product built closely aligned with policy trends.
I don't like hearing 'zero fees' turned into a slogan, so I go directly to see how it’s implemented.
Fan Fan's first reaction to this kind of debate is not to take sides, but to see whose product form can survive in the regulatory gap.
Coincidentally, the CFTC just updated its definition of 'payment stablecoins' on February 6, subtly steering the conversation towards a compliance framework.
In this large environment, Plasma's focus on 'stablecoin payment infrastructure' is not just a gimmick, but a product built closely aligned with policy trends.
I don't like hearing 'zero fees' turned into a slogan, so I go directly to see how it’s implemented.
The euro stablecoin is about to hit the table, and Fan Fan thinks the opportunity for Plasma's settlement infrastructure has arrived.
The Eurozone finance ministers will discuss the euro stablecoin and the European payment system on February 16. This is clearly a move to seize settlement discourse power.
I just want to say that the future is not about which company’s coin it is, but whether the clearing chain is smooth enough.
Plasma’s positioning is very hardcore; it considers itself a dedicated public chain for stablecoin payments, not some mixed-use platform.
It uses PlasmaBFT consensus and follows a fast finality route, aiming for high throughput and quicker confirmations.
What suits me best is EVM compatibility; Ethereum contracts can be migrated without code changes, saving a lot of migration costs.
Also, the custom gas token feature is very suitable for enterprise-level fee design, without tying users to a native coin.
In terms of privacy, it also hasn’t slacked off; it talks about confidential but compliant transaction forms, following a practical route.
When you piece these together, it looks like building a cross-border settlement product stack rather than creating another "public chain".
@Plasma $XPL #plasma #Plasma
The Eurozone finance ministers will discuss the euro stablecoin and the European payment system on February 16. This is clearly a move to seize settlement discourse power.
I just want to say that the future is not about which company’s coin it is, but whether the clearing chain is smooth enough.
Plasma’s positioning is very hardcore; it considers itself a dedicated public chain for stablecoin payments, not some mixed-use platform.
It uses PlasmaBFT consensus and follows a fast finality route, aiming for high throughput and quicker confirmations.
What suits me best is EVM compatibility; Ethereum contracts can be migrated without code changes, saving a lot of migration costs.
Also, the custom gas token feature is very suitable for enterprise-level fee design, without tying users to a native coin.
In terms of privacy, it also hasn’t slacked off; it talks about confidential but compliant transaction forms, following a practical route.
When you piece these together, it looks like building a cross-border settlement product stack rather than creating another "public chain".
@Plasma $XPL #plasma #Plasma
AI memory is about to take off, and Vanar turning tokens into cash flow is just a matter of course.
Recently, everyone has been talking about AI memory layers; only those who can turn usage into value can be considered truly skilled. Vanar has created myNeutron, which triggers buybacks and burn upon subscription. Ning Fan looks at it and just thinks two words: can count.
What's even tougher is that it doesn't rely on traffic jam-style bidding, but rather a fixed fee with a first-come-first-served basis, producing blocks in three seconds, focusing on a low-friction experience. The development is also compatible with EVM, and the cost of migrating old contracts is not scary. In plain terms, it allows applications to run steadily.
As for the ecosystem, it doesn't just shout empty slogans; it directly ties narratives to products. Scenarios like Virtua and VGN, which are more user-side, are best at exposing false demands. Only chains that can survive have the right to talk about scaling. Additionally, it has created cross-chain versions and bridges, ensuring liquidity is not locked up.
@Vanarchain $VANRY #Vanar #vanar
Recently, everyone has been talking about AI memory layers; only those who can turn usage into value can be considered truly skilled. Vanar has created myNeutron, which triggers buybacks and burn upon subscription. Ning Fan looks at it and just thinks two words: can count.
What's even tougher is that it doesn't rely on traffic jam-style bidding, but rather a fixed fee with a first-come-first-served basis, producing blocks in three seconds, focusing on a low-friction experience. The development is also compatible with EVM, and the cost of migrating old contracts is not scary. In plain terms, it allows applications to run steadily.
As for the ecosystem, it doesn't just shout empty slogans; it directly ties narratives to products. Scenarios like Virtua and VGN, which are more user-side, are best at exposing false demands. Only chains that can survive have the right to talk about scaling. Additionally, it has created cross-chain versions and bridges, ensuring liquidity is not locked up.
@Vanarchain $VANRY #Vanar #vanar
Recently, privacy coins have taken off again, and DUSK has shown exaggerated gains in the market, with market sentiment being very enthusiastic.
What Ning Fan cares more about is that this project does not just shout anonymity, but has done a complete security proof of the Phoenix trading model. This kind of underlying proof is much more valuable than just shouting slogans.
Phoenix uses the UTXO model, and the ledger expression is more like cash flow, suitable for doing privacy transfers and the dirty work of compliant asset delivery.
It uses SBA for consensus, separating the block production and voting roles, aiming for financial settlement to be fast and stable, not just performing on-chain fireworks for you.
The smart part is that the leader's choice also includes a blind auction approach, reducing the probability of being tracked and targeted. What privacy chains fear the most is being watched and attacked.
Speaking of contracts, Dusk focuses on confidential smart contracts, which can create matching boards that only qualified buyers can see, and trading information does not need to be publicly available on the entire network.
On the token level, DUSK is used for payment and staking to ensure security. Don't treat it as just a narrative coin; for the network to run, someone has to bet on the costs.
I think whether the market is hot or not is a short-term issue, but the underlying proof combined with the settlement architecture is the long-term ticket for it to enter institutional markets.
@Dusk #Dusk
$DUSK #dusk
What Ning Fan cares more about is that this project does not just shout anonymity, but has done a complete security proof of the Phoenix trading model. This kind of underlying proof is much more valuable than just shouting slogans.
Phoenix uses the UTXO model, and the ledger expression is more like cash flow, suitable for doing privacy transfers and the dirty work of compliant asset delivery.
It uses SBA for consensus, separating the block production and voting roles, aiming for financial settlement to be fast and stable, not just performing on-chain fireworks for you.
The smart part is that the leader's choice also includes a blind auction approach, reducing the probability of being tracked and targeted. What privacy chains fear the most is being watched and attacked.
Speaking of contracts, Dusk focuses on confidential smart contracts, which can create matching boards that only qualified buyers can see, and trading information does not need to be publicly available on the entire network.
On the token level, DUSK is used for payment and staking to ensure security. Don't treat it as just a narrative coin; for the network to run, someone has to bet on the costs.
I think whether the market is hot or not is a short-term issue, but the underlying proof combined with the settlement architecture is the long-term ticket for it to enter institutional markets.
@Dusk #Dusk
$DUSK #dusk
Ning Fan says Vanar has turned memory into a tradable productivity.
Recently, AI memory has been quite lively. When Claude pushed the memory feature to paying users, the industry sent out one signal: whoever can manage the context can manage the users. But here comes the problem: the stronger the memory, the more afraid we are of black boxes, the more afraid we are of being locked in, and the more afraid we are of losing everything when switching tools. Vanar is precisely addressing this issue; it doesn't compare who can chat better with you, but aims to turn memory into an asset that can be verified, transferred, and settled.
In Ning Fan's view, many so-called memory products are just packaging your chat records and stuffing them into the cloud. It sounds sophisticated, but switching platforms means starting over. Vanar's Neutron is more like reprocessing information into seeds; it emphasizes semantic compression, turning large files into lightweight Seeds, and it also focuses on verifiability. The official website even dares to compress 25MB down to 50KB, which is not just a show-off technique, but a message that what is stored on the chain is not just a chunk of dead data, but structured components that can be understood by programs.
In Ning Fan's view, many so-called memory products are just packaging your chat records and stuffing them into the cloud. It sounds sophisticated, but switching platforms means starting over. Vanar's Neutron is more like reprocessing information into seeds; it emphasizes semantic compression, turning large files into lightweight Seeds, and it also focuses on verifiability. The official website even dares to compress 25MB down to 50KB, which is not just a show-off technique, but a message that what is stored on the chain is not just a chunk of dead data, but structured components that can be understood by programs.
Why has Plasma XPL become popular again recently?
There has been a relatively popular event in the past two days, the next unlocking node for XPL is directly set on February 25, 2026.
Fan Fan generally looks at projects by first examining how the funding entrance is designed, as the entrance determines whether a lot of people will come to build or to sell pressure later.
The Vault mechanism that Plasma implemented at that time was very hardcore, first allowing everyone to deposit stablecoins like USDT, USDC, USDS, and DAI, and then calculating subsequent token shares based on time weighting.
This time-weighted approach is very realistic; those who come early get a more stable share, while those who come late shouldn't pretend to be wronged; the market is all about the first mover advantage.
Fan Fan generally looks at projects by first examining how the funding entrance is designed, as the entrance determines whether a lot of people will come to build or to sell pressure later.
The Vault mechanism that Plasma implemented at that time was very hardcore, first allowing everyone to deposit stablecoins like USDT, USDC, USDS, and DAI, and then calculating subsequent token shares based on time weighting.
This time-weighted approach is very realistic; those who come early get a more stable share, while those who come late shouldn't pretend to be wronged; the market is all about the first mover advantage.
The EU regulation has opened up, and the Dusk line seems to have some potential in my view.
Last year, the EU integrated MiCA cryptocurrency asset regulation into a unified framework, making compliance no longer just a verbal commitment.
This year, there is still debate about how to implement stablecoin regulations; as the regulatory environment changes, on-chain finance must adapt its strategies accordingly.
What I find most appealing about Dusk is that it doesn't solely focus on pure anonymity but takes the route of optional disclosure.
It applies zero-knowledge technology to identity and transactions; while the details remain unseen from the outside, what needs to be shown to authorized parties is provided adequately.
Dusk has also specifically broken down the two stablecoin types, EMT and ART, explaining what is considered compliant in the EU context.
Moreover, it collaborates with players like 21X, who have obtained European DLT TSS licenses, aiming to create a regulated on-chain securities market.
Another initiative is to incorporate the euro electronic currency token EURQ, connecting payment channels and transaction settlements with the rhythms of the real world.
As regulation intensifies, chains that can integrate privacy and auditing into their processes become increasingly desirable.
@Dusk #Dusk $DUSK #dusk
Last year, the EU integrated MiCA cryptocurrency asset regulation into a unified framework, making compliance no longer just a verbal commitment.
This year, there is still debate about how to implement stablecoin regulations; as the regulatory environment changes, on-chain finance must adapt its strategies accordingly.
What I find most appealing about Dusk is that it doesn't solely focus on pure anonymity but takes the route of optional disclosure.
It applies zero-knowledge technology to identity and transactions; while the details remain unseen from the outside, what needs to be shown to authorized parties is provided adequately.
Dusk has also specifically broken down the two stablecoin types, EMT and ART, explaining what is considered compliant in the EU context.
Moreover, it collaborates with players like 21X, who have obtained European DLT TSS licenses, aiming to create a regulated on-chain securities market.
Another initiative is to incorporate the euro electronic currency token EURQ, connecting payment channels and transaction settlements with the rhythms of the real world.
As regulation intensifies, chains that can integrate privacy and auditing into their processes become increasingly desirable.
@Dusk #Dusk $DUSK #dusk
Ning Fan talks about Plasma XPL. As regulatory scrutiny on stablecoins tightens, it appears to be a serious payment route.
The Hong Kong Monetary Authority stated that it will issue the first batch of stablecoin licenses by March 2026, emphasizing use cases, risk control, anti-money laundering, and cross-border compliance. This shift in direction is something I think we should pay close attention to.
Plasma's approach is quite straightforward: it turns the most common stablecoin transfers into a protocol that pays for gas, allowing you to transfer money without needing to hold native coins upfront.
It also strictly limits the scope of sponsored transfers, only supporting direct transfers of specific stablecoins, and adds identity-related controls to prevent exploitation.
What concerns me more is that it periodically writes settlement results into Bitcoin, running at speed on its own chain, ultimately relying on Bitcoin as the trusted anchor point.
The commercial implication of this mixed security model is that if you want to make payments, you shouldn't constantly gamble on whether the chain will roll back.
Looking at the token side, market statistics show that the unlocking progress is currently around 20.67%, leaving a long locking period, which imposes a hard constraint on the selling pressure rhythm.
The project team has also clearly stated that when the mainnet Beta launches, 8% will be allocated for early incentives and the dirty work of exchange integration, not just empty talk about the ecosystem.
Therefore, Fan Fan believes that as stablecoins move towards compliance, there is an increasing need for underlying tracks that package fee friction and settlement credibility together.
@Plasma $XPL #plasma #Plasma
The Hong Kong Monetary Authority stated that it will issue the first batch of stablecoin licenses by March 2026, emphasizing use cases, risk control, anti-money laundering, and cross-border compliance. This shift in direction is something I think we should pay close attention to.
Plasma's approach is quite straightforward: it turns the most common stablecoin transfers into a protocol that pays for gas, allowing you to transfer money without needing to hold native coins upfront.
It also strictly limits the scope of sponsored transfers, only supporting direct transfers of specific stablecoins, and adds identity-related controls to prevent exploitation.
What concerns me more is that it periodically writes settlement results into Bitcoin, running at speed on its own chain, ultimately relying on Bitcoin as the trusted anchor point.
The commercial implication of this mixed security model is that if you want to make payments, you shouldn't constantly gamble on whether the chain will roll back.
Looking at the token side, market statistics show that the unlocking progress is currently around 20.67%, leaving a long locking period, which imposes a hard constraint on the selling pressure rhythm.
The project team has also clearly stated that when the mainnet Beta launches, 8% will be allocated for early incentives and the dirty work of exchange integration, not just empty talk about the ecosystem.
Therefore, Fan Fan believes that as stablecoins move towards compliance, there is an increasing need for underlying tracks that package fee friction and settlement credibility together.
@Plasma $XPL #plasma #Plasma
Fan Fan has a few words: why I think Dusk is more like the privacy engine of the compliance era
In the past few days, I saw a relatively hot topic, the market for tokenized stocks surged to nearly one billion dollars in January 2026, with a growth rate much more exaggerated than the same period last year.
I also saw Reuters discussing that the market value of tokenized gold is approaching sixty billion dollars, rising sharply and fluctuating violently, with the core controversy revolving around who gets to decide on custody and redemption.
These two news pieces together give me an intuition that if RWA really wants to grow, just having a blockchain is not enough; we need to reconcile privacy and auditing, the two dead opponents, into one string.
Ning Fan followed this logic to look at Dusk and found that it is not selling an anonymous fantasy; it is more like selling a set of trading infrastructure that can be put on the table.
I also saw Reuters discussing that the market value of tokenized gold is approaching sixty billion dollars, rising sharply and fluctuating violently, with the core controversy revolving around who gets to decide on custody and redemption.
These two news pieces together give me an intuition that if RWA really wants to grow, just having a blockchain is not enough; we need to reconcile privacy and auditing, the two dead opponents, into one string.
Ning Fan followed this logic to look at Dusk and found that it is not selling an anonymous fantasy; it is more like selling a set of trading infrastructure that can be put on the table.
Ning Fan talks about Vanar, finding the growth flywheel in hot events
In the past few days, Ning Fan found that AI infrastructure is trending again. The reason is not very complicated. Enterprises are concerned about one thing. Can data be fed to AI more cheaply, quickly, and reliably? The crypto circle is the same. Vanar recently released its 2026 roadmap. The main line is not to tell a story. It is to tie entertainment and AI infrastructure into a billable business link. It looks like a public chain but operates more like a growth system aimed at developers and brands.
In my opinion, the hardest point of this project is Neutron. It does not take the old path. It does not just throw files into external storage and pray that the links do not break. It compresses data into verifiable seeds. It also allows the seeds to be queryable and programmable. The scale provided by the official source is quite exaggerated. The idea of compressing 25MB down to 50KB. The core is not about saving space. It is about turning data into a logically usable asset on the chain. For game items, tickets, compliance materials, it is more like productive materials rather than mere decorations.
In my opinion, the hardest point of this project is Neutron. It does not take the old path. It does not just throw files into external storage and pray that the links do not break. It compresses data into verifiable seeds. It also allows the seeds to be queryable and programmable. The scale provided by the official source is quite exaggerated. The idea of compressing 25MB down to 50KB. The core is not about saving space. It is about turning data into a logically usable asset on the chain. For game items, tickets, compliance materials, it is more like productive materials rather than mere decorations.
In the past two days, Ning Fan came across the 2026 roadmap for the Vanar project at Binance Square. Ning Fan's first reaction after reading it was to stop viewing it with the old public chain mindset; it resembles a foundation tailored specifically for AI agents.
What impresses me the most is Neutron's compression method, which breaks large files into verifiable seeds. The data is not only stored but also actively utilized, turning on-chain storage and usability into productivity.
Next is Kayon, which focuses on on-chain reasoning and querying, allowing contracts to make judgments directly on the compressed data, minimizing the need for middleware and oracles. The compliance checks and automatic triggers from the enterprise setup become easier to implement.
At the token level, there are no illusions; VANRY serves as hard currency for Gas and staking, while DPoS enables you to vote for validators to earn returns. Binance previously exchanged TVK for VANRY to run this main line successfully.
@Vanarchain $VANRY #Vanar #vanar
What impresses me the most is Neutron's compression method, which breaks large files into verifiable seeds. The data is not only stored but also actively utilized, turning on-chain storage and usability into productivity.
Next is Kayon, which focuses on on-chain reasoning and querying, allowing contracts to make judgments directly on the compressed data, minimizing the need for middleware and oracles. The compliance checks and automatic triggers from the enterprise setup become easier to implement.
At the token level, there are no illusions; VANRY serves as hard currency for Gas and staking, while DPoS enables you to vote for validators to earn returns. Binance previously exchanged TVK for VANRY to run this main line successfully.
@Vanarchain $VANRY #Vanar #vanar
Fan Fan clearly explains the real deal of Dusk - privacy compliance is not just empty talk.
Hello everyone, I am Ning Fan.
Dusk Network's approach is completely different from other privacy chains; it takes compliance seriously.
After the mainnet launches in early 2025, it will start producing blocks steadily, no longer just a dream on paper.
DuskEVM will be activated in early 2026, which means that Solidity developers can truly run compliant privacy smart contracts.
I see the NPEX dApp launching in Q1, bringing €200M–€300M+ of securitized assets on-chain, and the compliant trading volume is becoming more substantial.
This trading dApp is not a small workshop; it is a regulated secondary market trading and settlement environment.
Dusk's protocol layer is designed for default privacy trading while allowing for selective disclosure to regulators.
所谓隐私 (Privacy), is not about hiding completely, but about being "auditable to regulators while keeping it confidential for users."
Dusk Pay (MiCA compliant stablecoin B2B payment network) is also progressing, making payment scenarios promising.
€300M+ of real assets on-chain indicates that it's not just empty talk; it's real funds in motion.
The APY of Hyperstaking is about 12%, serving as a practical incentive for governance and security.
I, Fan Fan, look at this data; it's not about listening to concepts, it's about seeing the project's implementation on financial infrastructure.
Now, when we talk about Dusk, it's not just privacy; it's about compliant financial-level off-chain assets being brought on-chain.
@Dusk #Dusk $DUSK #dusk
Hello everyone, I am Ning Fan.
Dusk Network's approach is completely different from other privacy chains; it takes compliance seriously.
After the mainnet launches in early 2025, it will start producing blocks steadily, no longer just a dream on paper.
DuskEVM will be activated in early 2026, which means that Solidity developers can truly run compliant privacy smart contracts.
I see the NPEX dApp launching in Q1, bringing €200M–€300M+ of securitized assets on-chain, and the compliant trading volume is becoming more substantial.
This trading dApp is not a small workshop; it is a regulated secondary market trading and settlement environment.
Dusk's protocol layer is designed for default privacy trading while allowing for selective disclosure to regulators.
所谓隐私 (Privacy), is not about hiding completely, but about being "auditable to regulators while keeping it confidential for users."
Dusk Pay (MiCA compliant stablecoin B2B payment network) is also progressing, making payment scenarios promising.
€300M+ of real assets on-chain indicates that it's not just empty talk; it's real funds in motion.
The APY of Hyperstaking is about 12%, serving as a practical incentive for governance and security.
I, Fan Fan, look at this data; it's not about listening to concepts, it's about seeing the project's implementation on financial infrastructure.
Now, when we talk about Dusk, it's not just privacy; it's about compliant financial-level off-chain assets being brought on-chain.
@Dusk #Dusk $DUSK #dusk
Ning Fan's Narrative: Dusk, not just a privacy chain, it is the key to compliant finance on-chain.
Good evening, friends, I am Ning Fan, and today I want to discuss the Dusk Network from a different perspective.
Dusk is not just a chain that casually adds privacy features. Its positioning is as a privacy chain usable in compliant markets.
While most chains are still showcasing DeFi trading volumes, Dusk is designed in reverse from the question of how to bring real financial institutions onto the chain.
Real financial institutions refer to those who can bring assets onto the blockchain within a legal framework.
The architecture of this chain has two core elements: privacy enabled by default and compliance that is auditable and disclosed.
Dusk is not just a chain that casually adds privacy features. Its positioning is as a privacy chain usable in compliant markets.
While most chains are still showcasing DeFi trading volumes, Dusk is designed in reverse from the question of how to bring real financial institutions onto the chain.
Real financial institutions refer to those who can bring assets onto the blockchain within a legal framework.
The architecture of this chain has two core elements: privacy enabled by default and compliance that is auditable and disclosed.
Ning Fan directly says｜Walrus is not just about moving folders; it allows data to move and generate revenue on the chain.
In Ning Fan's view, the Walrus project is the kind of protocol that you realize how useful it is after using it just once.
Walrus supports storing and reading blobs, and it allows you to prove that these blobs actually exist and can be retrieved, which is much stronger than older solutions.
It employs an advanced erasure coding, making the storage cost only about five times the size of the blob, rather than the ridiculously high cost of full chain replication.
This means that you can store several GB of media files without having to spend hundreds of times the space to ensure safety, which is a real cost-saving solution for large files.
What is recorded on the chain is not the data itself, but the metadata and availability proof, which ensures data security without clogging the chain.
Walrus supports storing and reading blobs, and it allows you to prove that these blobs actually exist and can be retrieved, which is much stronger than older solutions.
It employs an advanced erasure coding, making the storage cost only about five times the size of the blob, rather than the ridiculously high cost of full chain replication.
This means that you can store several GB of media files without having to spend hundreds of times the space to ensure safety, which is a real cost-saving solution for large files.
What is recorded on the chain is not the data itself, but the metadata and availability proof, which ensures data security without clogging the chain.
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