Looking at current on-chain governance, honestly, it’s basically a stage for big players. Small retail investors watch as a whale votes, then immediately follow suit—there’s hardly any genuine contest. What’s the root cause of this problem? It’s because voting is too “transparent”—who holds how many votes, and what they ultimately vote, are all visible to the world. As a result, “vote bullying” has become the norm in on-chain governance: once a big player makes a stance, there’s no suspense left for others.

Everyone is competing to put assets on the chain, but few truly focus on the question of “how to put power on the chain.” This is the deeply underestimated area. Dusk’s approach is quite counterintuitive—it uses ZK cryptography to create a voting system that is “both transparent and private”: the entire network can verify that your voting eligibility is valid, but no one can see whether you voted in favor or against.

How critical is this capability? Imagine board resolutions involving real money dividends—if participants can vote without revealing their positions, the issues of vote-buying and retaliation would have little room to survive. In a world full of interests and calculations among adults, anonymous power is truly free power—this isn’t about avoiding regulation, but about safeguarding the essence of voting.