Currently #GOLD trade running in delta with R:R ~ 1:7
Gold trade is currently running with an impressive R:R of around 1:7. Strong risk-to-reward setup, but discipline and proper risk management remain key. Let the trade play out without overtrading. 📈
While doing the CreatorPad task for Nillion, I noticed something that made me stop and think for a moment. 👀
$NIL was trading around $0.0877 on NIL/USDT after rising roughly 239% from its September low of $0.03864, around the time of the Dusk mainnet launch on September 28.
That’s a pretty big move! 🚀 But here’s the thing that got me curious.
Nillion is building Encrypted Markets, where privacy is supposed to be a big part of the experience. But after reading about Covenants, I realised something interesting: the instruction can be hidden, but the fact that it exists is still visible.
Wait… what? 🤔
According to Nillion’s own explanation, people can see that a Covenant has been posted, but they cannot read what’s inside it.
So, the actual order stays secret, but details like when it was posted, the poster’s address, and the gas fees can still be visible on Ethereum L1.
To be honest, when I first heard the words “Encrypted Markets,” I thought even the activity around a trade would be hidden. But at the Dusk stage, that doesn’t seem to be the case.
And this got me thinking…
If a trader can hide their limit price, that’s definitely useful. But what if someone wants to hide the fact that they’re about to make a really big trade? If the activity is still visible, could others get clues about what might happen next?
Maybe future phases, like Darkfall planned for November, or multi-chain support, could bring more improvements. But I couldn’t find a clear answer about whether these details will also become private.
But I do have one question: Is hiding the order enough if people can still see the activity around it?
I’m genuinely curious to hear different opinions on this. I’m still learning about the project, and I think these are the kinds of questions worth discussing.
💬 What do you think? Is hiding the instruction enough, or should encrypted markets also hide the intention behind a trade?
Nillion is working on something really interesting called Encrypted Markets, and Covenants are an important part of how it works.
In simple words, a Covenant is like a secret instruction for a trade, order, bid, or payment. It is posted on Ethereum in an encrypted form, so others cannot read the details.
The interesting part is that the information stays hidden until a specific condition is met. A network of Blacklight nodes helps unlock and execute the instruction, without depending on just one trusted person to make the decision.
Dusk is the first live version of this system on Ethereum. It supports conditions based on prices and time, allows permissionless nodes to participate and earn rewards, and gives developers an SDK to build applications using TypeScript.
For example, imagine setting an instruction to buy $50,000 worth of ETH only when BTC reaches $80,000. The trade details stay hidden until the condition is met. This could help protect trading strategies and reduce the risk of front-running.
This is just the first phase of Nillion's seven-phase roadmap toward building fully encrypted markets.
Honestly, I find this project really interesting because privacy is a big deal in trading. But I also want to understand how well it will work in real market conditions.
What do you think about Nillion? Could encrypted markets change the way people trade in the future, or are there still challenges to solve?
#nil $NIL @Nillion I was doing the Creatorpad task for Nillion when I noticed something interesting. $NIL is trading around 0.0877 on NIL/USDT after rising about 239% from its September low of 0.03864. This happened around the time of the Dusk mainnet date on September 28.
That is a big move for a project that focuses on keeping information private.
But one thing really caught my attention. Nillion Covenants hide the instructions, but they do not hide the fact that an instruction exists.
According to their own post, people can see that a Covenant has been posted, but they cannot read its contents. This means the order details stay hidden, but the timing, the poster's address, and the gas fees can still be seen on Ethereum L1.
I had to read that line twice to understand it properly.
Honestly, I thought encrypted markets would hide everything, including the activity around a trade. But that is not the case, at least in this stage of development. Maybe this is a good first step, but it also raises a question about who gets the most protection.
A trader who wants to hide their limit price gets some privacy. But what about a trader who wants to hide the fact that they are about to make a big trade? That information may still be easier to notice.
Maybe future updates, like Darkfall, which is planned for November, and multi-chain support could improve this. But the roadmap does not clearly explain whether these details will also be hidden.
I am still not sure if hiding the order details while keeping the activity visible is enough for traders who deal with large amounts of money. Or does it just look good in the early stages?
**So, where should we draw the line between hiding the trade details and hiding the intention behind the trade?**
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