Ready to stock up $DUSK did you say you can have a good year? Recently, I've been repeatedly studying the Phoenix trading model of @Dusk , and one intuitive feeling is: it is not about privacy, but about redefining the usage of privacy. Now, the privacy track either goes to extreme anonymity, resulting in rejection by regulators and exchanges; or it simply applies a privacy patch to existing chains, which is of limited significance. Dusk has chosen a more realistic path, making privacy a programmable permission system, which can still be verified by compliance audits without disclosing transaction details.

This design is very lethal in the RWA scenario. The complete transparency of traditional public chains is almost unacceptable for institutions, while Dusk uses zero-knowledge and homomorphic encryption at the underlying layer to hide amounts and counterparties, providing an experience closer to a banking system's private transaction window. Compared to solutions that rely on mixers, Dusk solves compliance and risk labeling issues at the protocol level, with a clearly long-term vision.

Of course, its problems are also very real: the technology is ahead, but the product experience has not caught up. The mainnet is like a high-performance chassis, but the applications and tools available for ordinary users are still relatively few, and the interaction threshold is not low. If the difficulty of access persists long-term, the ecological diffusion will be slowed down.

But in the long run, the positioning of #dusk is very clear: not to compete in general scenarios, but to only serve regulated finance. The XSC token standard, Hedger engine, and NPEX's compliance license, these pieces together form its unique barrier in privacy finance and RWA. It is not a hot project; it is more like laying the foundation for the future financial system.