Recently, I gathered with a few friends in the investment circle and naturally started discussing this year's crypto market trends. During the conversation, we noticed an interesting phenomenon—privacy compliance and RWA (Real World Assets), which seem to be on completely different paths, suddenly experienced a chemical reaction at a certain point in time. Few projects truly understand this dynamic, and the name DUSK almost always comes up spontaneously.

I took a quick look at the market chart, and DUSK's trend doesn't look particularly remarkable, but the details are quite interesting: volatility is tightly locked within a narrow range, while trading volume is gradually increasing. This kind of sign usually indicates that large funds are quietly positioning themselves. This is the dividing line between institutional investors and retail investors—former care whether the project can truly be implemented, while the latter mostly care about how good the story sounds. DUSK manages to attract these investors mainly because the underlying logic of the project withstands scrutiny.

Speaking of the privacy compliance track, the contradictions have long been obvious. On one hand, global regulation is tightening continuously, with the EU’s MiCA legislation and the US crypto asset regulatory framework being introduced one after another, leaving non-compliant projects with no chance of turning things around. On the other hand, users' demand for privacy protection is rigid; stricter regulation cannot change this fact. The reality is clear: most projects either compromise by removing privacy features to gain compliance or outright defy regulations, pushing themselves into a gray area. Very few projects can find a balance between these two extremes.

DUSK’s approach is somewhat different. Instead of passively following regulations, it takes the initiative to find ways to transform privacy protection mechanisms into products that meet user needs while also aligning with regulatory expectations. From the perspective of RWA, on-chain real-world assets inherently require high on-chain compliance and transparency—this seems to conflict with the original intent of privacy protection. However, DUSK uses selective privacy and zero-knowledge proof mechanisms to allow on-chain assets to be publicly verified while enabling users to protect necessary privacy. This is not just a technological breakthrough; it’s more like a conceptual leap.

Markets often reward projects with innovative ideas. Not with immediate skyrocketing prices, but with continuous attention and strategic positioning from capital. Looking at DUSK’s current performance, it’s merely an early signal of this process.