Dusk Network: RWA public chain that takes into account compliance and privacy

Market Opportunities

Real World Assets (RWA), as an important emerging asset class in the cryptocurrency industry, are gradually emerging. As of May 2024, the RWA market has exceeded $6.6 billion, demonstrating strong investor interest and growing demand for this innovative financial product. The rise of RWA is closely related to the widespread application of blockchain technology. Through tokenization, real-world assets such as real estate, commodities, and intellectual property can be represented as digital tokens on the blockchain. This process brings several key advantages:

Split Ownership: Previously indivisible assets can now be divided into smaller tokens, making them accessible to a wider range of investors.

Higher Liquidity: Tokenization simplifies asset trading, potentially increasing liquidity in traditional illiquid markets.

Transparency and security: Blockchain technology ensures the security and transparency of transactions and reduces counterparty risks.

RWA can be used as a source of income in decentralized finance (DeFi) by being tokenized and put on the chain. The asset tokenization market is expected to surge to $10 trillion by 2030.

 Source: Roland Berger

Ondo Finance, with its treasury tokenization product, is poised to be well-positioned for this growth as investor interest continues to rise. RWA is gradually becoming the core of the equity-based, real-asset-based and fixed-income-based DeFi market, and more and more projects are emerging.

In today's article, we will take a deep dive into Dusk Network, an "infrastructure" project in the Web3 RWA space that emphasizes compliance. After extensive development, Dusk’s mainnet will launch in the second quarter of 2024, marking a major milestone for the project.

Network

Dusk Network is a blockchain platform designed for regulation and decentralized finance. It focuses on issuing digital securities and aims to automate compliance while keeping user data private and auditable. By integrating privacy and compliance, Dusk Network facilitates secure on-chain transactions of RWA.

 Source: Dust Network

Using a unique consensus mechanism that combines elements of PoS and zero-knowledge encryption, Dusk Network ensures confidentiality and compliance. The platform aims to simplify the regulated market by eliminating high-cost intermediaries while still complying with regulatory standards.

Features

Regulatory Compliant Blockchain Solution Dusk Network is designed to meet the regulatory needs of institutions. It is an open source, public, permissionless blockchain making it accessible to companies of all sizes.

Integrated Privacy on Dusk Network Dusk provides a privacy-focused system for tokenizing, clearing, and settling financial instruments. They developed the Citadel protocol to integrate a self-sovereign identity system into the Dusk blockchain, and also developed an off-chain version called Shelter for private KYC for institutions. Users can selectively disclose their information and protect their data.

Confidential Smart Contracts Dusk is one of the first blockchains with native confidential smart contracts (confidential smart contracts) that can create and issue privacy-enabled tokenized securities. This streamlines business operations by automating audit trails, reducing administrative and legal costs, and improving overall efficiency. Institutions can also use these contracts to leverage the benefits of the public network for financial applications while adhering to regulatory compliance.

 Source: Dusk Network

Zero-Knowledge Utility Token

Dusk uses Zero-Knowledge Proof (ZKP) technology, which allows the underlying data to be used without leaking Verify the situation. By integrating PLONK, a cutting-edge zero-knowledge encryption technology, Dusk ensures strong privacy protection.

Competitors

Dusk Network is a unique player in the real world assets (RWA) space with a focus on regulatory compliance and an emphasis on privacy protection. Below is a comparative overview of its main competitors:

Competitors	Main features	Differences from Dusk	Dusk’s competitive advantages
Mantra	Built on Cosmos SDK Layer 1 Tokenization of RWA Decentralized Identity System (DID) Compliant exchange	Wider application scope Higher market value	Privacy-Powered Blockchain Confidential Smart Contract
Nexera	Tokenization solutions Operations across multiple blockchains Partnerships with Chainlink and Peaq	Not Layer 1 Focus on multi-chain	Emphasis on privacy We are moving towards Progress in Obtaining EU License
Securitize	Digital Securities Platform Blockchain Token Partnership with BlackRock	Powerful Web2 integration High profile partnership	High Yield Bonds with BWRE Emphasis on Privacy
Oasis Network	Provide customizable privacy services for dApps Independent consensus and computing layers	Achieve privacy through different layers	Comes with privacy Confidential smart contract
Secret Network	Privacy-preserving smart contracts Built on the Cosmos SDK	Different privacy implementations Measures	Bring Your Own Privacy Regulatory Compliance
Ondo Finance	DeFi and Institutional Grade Products Tokenization of RWA Structured Financial Products	Mainly focused on DeFi Structured products	Privacy-powered blockchain Provide confidential smart contracts for RWA

Dusk 的优势在于其隐私支持的区块链、保密智能合约和监管合规性，这使其成为需要隐私和合规的金融dApps和机构的理想选择。然而，Dusk也面临几个劣势：它的知名度较低，市值较小，且仍处于早期阶段。此外，其对隐私和监管合规的关注可能会限制其对更广泛的区块链和DeFi项目的吸引力。

代币经济学

DUSK 代币是 Dusk Network 的核心，具体介绍如下：

市场指标

• 市值：2.2072亿美元（基于流通供应量和价格）。
• 排名：#271
• 全部稀释估值（FDV）：2.3765亿美元（基于总供应量和价格）
• 排名：#350
• 流通供应量：4.6962亿 DUSK（最大供应量的46.96%）。团队持有或由Dusk部署者控制的代币不被视为流通供应的一部分。
• 总供应量：5亿 DUSK
• 最大供应量：10亿 DUSK，其中5亿在主网前发行，主网期间18至36个月向持币者发放的5亿。
• 下一次解锁：截至2022年4月11日已完全解锁

代币用途

• 质押与奖励：锁定 DUSK 代币以赚取奖励并增强网络安全。
• 交易与Gas费：支付网络交互的交易费用和Gas成本。
• 支付与抵押：在网络内使用DUSK进行支付以及作为发行数字资产的抵押。

代币分配

归属期从2019年5月开始至2022年4月结束。

<img src="https://img.php.cn/upload/article/000/000/000/171879541699756.png" alt="Dusk Network：兼顾合规与隐私的RWA公链"><em> </em>来源: Dusk Network

团队、筹资和生态系统

Dusk Network的团队融合了技术和商业专长，由创始人Emanuele Francioni、Fulvio Venturelli和Jelle Pol领导。他们带来了来自顶尖机构和公司的经验。由17名技术团队成员和9名顾问委员会成员支持他们的创新工作。

 Source: Duck Network 

Dusk Network已经筹集了大量资金：2020年ICO筹集了100万美元，2018年由Binance Labs支持的私人销售筹集了808万美元，以及BlockVenture的种子基金筹集了100万美元。

通过与NPEX的合作，Dusk Network正在开创欧洲首个区块链驱动的证券交易所。这一举措使Dusk在欧洲数字代币化愈加普及的情况下定位于增长，预计到2032年将达到37亿美元。

2023年9月7日公布的最新Dusk路线图概述了2024年主网启动的路径。关键里程碑包括激励测试网（ITN）和广泛的审计过程。

 Source: Dusk Network

看涨的基本因素

• 强大的RWA叙事：像BlackRock这样的大公司对实体RWA表现出兴趣，凸显了它们的潜力。
• 私人市场的机会：私人市场的数字资产提供了重大机会，Dusk通过结合隐私和合规性来安全地进行链上RWA交易。
• 欧洲首个区块链股票交易所：Dusk拥有欧洲首个基于区块链的股票交易所的称号。
• 多样化的编程支持：Dusk区块链支持多种编程语言，包括Rust、C、C++和Go，在Piecrust上运行，这是Dusk的ZK友好虚拟机，优化隐私和效率。
• Dusk赠款计划：名为Thesan的此计划承诺提供1500万DUSK支持在Dusk网络上构建的开发者，促进创新和增长。
• 主网启动：Dusk Network的路线图正向2024年第二季度的主网启动进展。

看跌的基本因素

• 竞争压力：ONDO在RWA叙事中处于领先地位，并可能继续吸引大部分关注和市场份额，特别是与BlackRock的紧密联系。
• 缺乏智能资金兴趣：我们的内部团队尚未发现智能资金对购买和积累DUSK代币表现出显著兴趣，尽管将继续监测任何变化。
• 战略风险：Dusk专注于实体资产代币化的基础设施，这一狭窄的焦点可能带来战略风险。
• 监管挑战：在不同司法管辖区为代币化导航复杂的法律框架是具有挑战性的。Dusk使用的保密智能合约使其面临与智能合约可执行性和资产分类相关的监管障碍。

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