A network can have perfect cryptography and still fail if the people securing it have no reason to stick around. Dusk's validator model ties staking rewards to DUSK, which raises a basic question that privacy chains don't get asked enough, is the token actually necessary for security, or is it necessary because the protocol needs a way to distribute value. Those are different things. Proof of stake works when validators have skin in the game and the asset they're staking holds value independent of hype. Right now DUSK's price is driven mostly by market sentiment and speculation, not by transaction volume or fees generated from actual confidential contract usage. That's not unusual for an early network, but it does mean validator economics are currently subsidized by belief rather than usage. If institutional activity never materializes at scale, staking yields have to come from somewhere, and inflation only covers that gap for so long. The security model isn't broken. It just hasn't been tested by real demand yet, and until it is, nobody knows how it holds up under pressure.
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