Dgndli

К 2026 году период «романтического» отношения к блокчейнам, не учитывающим регулирование, подойдет к концу. По мере перехода MiCA (рынки криптоактивов) от первоначальной реализации к жесткой реализации, отрасль приближается к двоичному расколу: протоколы, интегрирующие соблюдение норм в свою суть, и те, которые будут фактически выведены за пределы европейской финансовой системы. Для управляющих институциональными фондами риск больше не заключается лишь в «волатильности» — он заключается в «фатальном несоблюдении регуляторных требований».
Основной конфликт заключается в «парадоксе прозрачности». Общедоступные блокчейны, такие как Ethereum или Solana, чрезвычайно прозрачны, транслируя каждую транзакцию, баланс кошелька и взаимодействие с умными контрактами для всех. Для регулируемого банка, фонда национального богатства или частной кредитной организации это неприемлемо. Это нарушает основные законы о защите данных (GDPR) и подвергает стратегии торговых операций риску перехвата (MEV-ботами) и конкуренции со стороны глобальных игроков. С другой стороны, «анонимные монеты», предлагающие полную анонимность, систематически исключаются из бирж и запрещаются из-за опасений, связанных с борьбой с отмыванием денег и финансированием терроризма (AML/CFT). У них отсутствует «регуляторный выход», позволяющий осуществлять законный контроль.

For Crypto-Asset Service Providers (CASPs), 2026 represents a looming administrative nightmare. The "Travel Rule" and reporting requirements under MiCA mean that every transaction must be accompanied by a mountain of metadata. For most L1s, this means building complex off-chain databases, "wrapping" assets in permissioned layers, or using centralized custodians. Dusk makes this process not just easier, but automated and decentralized.
The secret weapon is the Phoenix transaction model. In a standard UTXO or Account model, privacy is an afterthought, and adding it usually breaks compatibility with regulators. In Phoenix, privacy is the default, but it is "auditable privacy." When a CASP processes a transaction on Dusk, the protocol can automatically generate a ZK-proof that the transaction complies with the Travel Rule without exposing the customer's PII (Personally Identifiable Information) to the public.
This solves the "Compliance Friction" problem. Normally, more compliance equals less liquidity and a worse user experience. By integrating Citadel for identity and XSC for asset logic, Dusk allows service providers to offer "Instant Onboarding." A user can prove their identity once via Citadel—receiving a ZK-bound certificate—and then interact with any number of compliant dApps on the network without ever re-submitting a passport scan or utility bill.
Why would a digital asset manager risk their license on a chain where "sanctioned" addresses can "dust" their wallets and trigger a regulatory audit? On transparent chains, you are guilty until proven innocent if you touch the wrong coins. On Dusk, the protocol level SBA consensus and the confidential contract standards ensure that only authorized interactions can occur in the first place.
It’s not just about avoiding fines; it’s about efficiency. Currently, compliance teams at major exchanges spend up to 40% of their time on manual verification and reporting. Dusk automates this through "Proof of Compliance." A CASP can simply point a regulator to a specific ZK-proof that validates their entire month's transaction history against AML rules without revealing a single client's name. This is the "Easy Button" for Regulated DeFi, allowing service providers to focus on growth rather than paperwork. Dusk is turning compliance from a cost center into a competitive advantage.
#dusk $DUSK @Dusk_Foundation

In the previous cycle, the word "regulated" was often seen as a dirty word—a sign of "selling out" to the legacy system. But in the 2026 market, "Regulated" is the highest-value tag a protocol can carry. While the rest of the market fights for the shrinking pool of "grey-market" liquidity, Dusk is positioning itself to capture the $300 trillion global securities market. This is the 100x narrative that the market is still fundamentally mispricing.
The fundamental issue is that current DeFi protocols operate in a vacuum of legal certainty. The math is simple: the total value locked (TVL) in "Wild West" DeFi has hit a ceiling because institutional capital—pension funds, insurance companies, and sovereign funds—cannot legally enter. A pension fund cannot put $1 billion into a transparent liquidity pool where they are at risk of interacting with a sanctioned wallet, accidentally funding illicit activities, or revealing their strategic positions to predatory front-runners. By providing a "Sanitized" environment via Citadel for identity and Phoenix for transaction privacy, Dusk unlocks the floodgates for the world's most conservative (and largest) capital pools.
Dusk is not just a "privacy coin"; it is a Financial Infrastructure Layer built from the ground up to solve the "Trustless Compliance" problem. Its acquisition of a significant stake in the Dutch stock exchange (NPEX) was the ultimate signal of intent. They aren't just building tech in a vacuum; they are building the legal and operational plumbing for the first truly decentralized, compliant stock exchange. This isn't just another dApp; it's a structural replacement for legacy financial clearing houses and settlement layers that currently take T+2 days to settle trades. Dusk aims for T+0 settlement while keeping the data private and the regulators satisfied.
The market often overlooks the "Moat of Compliance." It takes years of R&D to build the ZK-cryptography (like the Piecrust ZK-VM) and even longer to align with the legal frameworks required to satisfy the Dutch Central Bank (DNB) and ESMA. Other L1s can try to "bolt on" ZK-features or privacy layers, but they will always be hampered by their transparent origins and the "Torn-Down" reputation of their ecosystems. You cannot simply "patch" compliance onto a chain that was designed to circumvent it. 🏦
Why is this a 100x weapon? Because "Regulated" means "Accessible." When a protocol is compliant with MiCA and the Travel Rule at the base layer, it becomes an eligible asset class for every brokerage, bank, and fintech app in Europe. We are moving from a world of "fragmented liquidity" to "global institutional synthesis."
Dusk is the only L1 that was "Born Regulated." It was designed from the first line of code to sit at the intersection of public decentralization and private institutional requirements. As we transition from the "Speculative Era" to the "Utility Era" of blockchain, the winners won't be the chains with the most memes, but the chains with the most legal clarity. In a world where the law finally caught up to the tech, the protocol that already speaks the language of the law is the one that wins. Being regulated isn't a constraint; it's the ultimate scalability feature that allows $DUSK to absorb the value of legacy finance.
How can a traditional asset manager ignore a protocol that reduces their overhead by 80% while increasing their security? They can't. The shift to Dusk is inevitable because it is the only protocol that honors the "fiduciary duty" of the institution. While the rest of the industry is busy trying to outrun the regulators, Dusk is the only one standing at the finish line, waiting for the trillions to arrive.
#dusk $DUSK @Dusk_Foundation

We are currently seeing the rise of "Ghost Chains"—networks with high market caps and impressive TVL numbers that are essentially circular economies of speculation. These chains have no path to institutional adoption because they lack the primitives for compliance. If you are a developer building on a chain that can’t handle MiCA-compliant identity (Citadel) or confidential assets (XSC), you are building on a sinking ship.
The Regulatory Great Filter
The transition from "DeFi" to "RegFi" is not a suggestion; it is a regulatory mandate. Within the next 24 months, protocols that cannot identify their users and shield their transactions will be geofenced or shut down by global regulators. The question for developers is: Do you want to build on a playground that will eventually be fenced off, or on the infrastructure that will host the world's capital?
Why Port to Dusk?
Porting your EVM dApp to Dusk is not just about gaining privacy; it’s about gaining utility. By moving to the Dusk ecosystem, your protocol can suddenly interact with tokenized private equity, sovereign bonds, and institutional credit lines that simply cannot exist on transparent chains.
Accessing Institutional "Sticky" Capital
DuskEVM allows you to maintain your codebase while tapping into a liquidity pool that is increasingly composed of institutional "sticky" capital rather than retail "mercenary" capital. Fund managers are looking for protocols that respect their need for confidentiality and meet their compliance burdens.
The migration has already begun. Protocol architects who move to Dusk today are positioning themselves as the early winners of the RegFi era. Don't be the last one left in the ghost house. 🏦
#dusk $DUSK @Dusk_Foundation

На протяжении многих лет самым громким аргументом против блокчейнов, обеспечивающих приватность, была "пробел в экосистеме". Критики утверждали, что, хотя приватность и является благородной целью, она никогда не сможет конкурировать с огромной сетью разработчиков и триллионами строк кода на Solidity, которые поддерживают Ethereum. С запуском DuskEVM этот аргумент официально утратил свою силу.
Решение кризиса композируемости
DuskEVM — это не просто еще один совместимый с EVM боковой блокчейн. Это сложный мост, который позволяет разработчикам Solidity переносить свои существующие dApp в экосистему Dusk, получая немедленный и нативный доступ к ZK-приватности. Это и есть "Великое сближение". Мы берём композируемость и инструменты для разработчиков Ethereum и соединяем их с приватностью уровня учреждений, предоставляемой Dusk.

Современный рынок переполнен "обертывателями приватности" и ZK-роллапами уровня 2, которые обещают обеспечить конфиденциальность для Ethereum. Как архитектор на блокчейне, я должен быть откровенным: для институционального использования это мошенничество с точки зрения безопасности и регулирования.
Структурный сбой "приватности на приставку"
Приватный обертыватель по сути является решением "на приставку". Вы берете прозрачный актив, блокируете его в мосту и выпускаете "приватную" версию на уровне 2. Это создает три критических точки отказа, которые ни один управляющий фондом, заботящийся о рисках, никогда не примет:

Если вы ждете эффектного пресс-релиза от крупного инвестиционного банка, объявляющего, что они перенесли 100% своей деятельности на публичный блокчейн, вы ищете не там. Настоящий переход — тот, который определит следующее десятилетие финансов — происходит в тени. Он происходит в тестнетах, пилотных программах и частных реализациях протокола Dusk.
Почему глобальные банки выбирают Dusk среди множества корпоративных «разрешённых» цепочек, таких как Corda, Quorum или Hyperledger? Чтобы понять это, нужно взглянуть на фатальный провал эпохи «частных блокчейнов» 2017–2021 годов.