Yesterday's violent surge of DUSK indeed caught many people on the sidelines. I pondered the origins and development of this project and realized that it is not something new at all, but a project that has been lurking in the RWA track for a long time and is severely undervalued.

**What exactly is DUSK doing?**

In simple terms, it is a Layer 1 public chain with built-in privacy features. But here’s a key point — it’s not like Monero’s pure privacy approach, but rather **compliant privacy**.

What does this mean? Traditional institutions like banks want to go on-chain but fear the leakage of business secrets; regulatory agencies want to audit accounts but don’t want to get lost in technical details. DUSK uses zero-knowledge proofs to protect privacy while meeting EU compliance requirements. Both can be achieved.

**Why am I optimistic about it? Three solid reasons:**

First is the background. Among its investors is iFinex — do you know? It’s the parent company of USDT and Bitfinex. Essentially, the printing press for stablecoins is backing it, which is quite significant.

Second is real-world implementation. It’s not just a pie-in-the-sky concept on PPT. It has already partnered with the regulated Dutch exchange NPEX, preparing to bring €300 million of securities for small and medium-sized enterprises onto the chain. This is a real project landing in RWA, not just a slogan.

And third is technical compatibility. After completing the EVM mainnet upgrade in January, applications on Ethereum can be migrated directly. The ecosystem expansion channel has been opened.

DUSK is not a meme coin driven by hype. Under the big narrative of RWA and compliance, it’s more like an **armored cash-in-transit vehicle** connecting traditional finance and the crypto world.

Looking at its current market cap compared to the scale of real-world implementation it has already achieved, the potential for growth is quite substantial.