Noticed something subtle in today’s Dusk settlement reports.
Trades cleared, blocks finalized, proofs recorded. Everything green. But the regulatory queue showed one pending item flagged for scope verification.
The industry still believes audit proofs are optional checkboxes until review. On Dusk, they’re baked into every transaction. Moonlight’s credential-scoped disclosure means auditors see exactly what matters—nothing more, nothing less. One missing eligibility check and the system refuses to auto-confirm.
For issuers and investors, that’s the cost of precision. One €10M tranche today required explicit proof of eligibility for three investors before reporting could proceed. On most chains, that step is assumed or absorbed socially. On Dusk, it is enforced by the protocol. Liquidity, reporting timelines, and capital allocation all respond in real time.
Regulators notice the difference immediately. Errors shrink. Rework drops. Desk confidence grows. And desks adjust behavior fast: pre-funding, staged settlements, and workflow planning all adapt to the enforced proof paths. The chain doesn’t wait. Humans do.
Curious how market participants will recalibrate once these credential gates scale to hundreds of trades per day.