The recent surge in DUSK's market has been fierce, and many people think it's just hype. But upon closer reflection, the underlying signals are more interesting—capital is betting on whether the once seemingly contradictory track of "compliant privacy" can truly come to life.

Dusk Network's idea is not to fight regulation but to incorporate it into product design. The model of "default privacy with selective verifiability" is actually creating a "friendly data safe"—regulators or institutions can only open it with specific keys for auditing, completing anti-money laundering checks within a zero-knowledge proof framework. According to public data, a European bank's anti-money laundering efficiency improved by 40% during the pilot; if this can be widely adopted, its appeal is indeed significant.

The current key points to watch are: in the short term, whether DuskEVM mainnet can run stably and attract developers. In the medium term, the most critical aspect is whether the DuskTrade platform can truly realize that €300 million compliant asset and generate real trading data.

But risks cannot be ignored. The biggest pitfall is not the technology itself but the "cold start of a two-sided market"—both compliant assets and buyers need to flood into the ecosystem simultaneously. If one link stalls, the entire story could collapse. Additionally, recent large inflows of tokens into exchanges indicate early holders are eager to cash out, and under such high volatility, prices can easily deviate from fundamental values.

In plain terms, whether this "dancing with shackles" privacy solution can succeed depends on how the market uses it. Will it become a key infrastructure for RWA explosion? It's worth continued attention.