I kept seeing the €300M figure around Dusk and NPEX, so I wanted to understand what was actually being measured.

NPEX is described as having €300M+ in assets under management, while Dusk says those assets are being brought onchain.

But AUM is not the same thing as tokenized assets.

It isn’t the same as assets already issued on Dusk.

And it definitely isn’t the same as trading volume or secondary-market liquidity.

That distinction matters because a big AUM number can make the future market look much larger than the market that actually exists onchain today.

So I started looking for the number that I actually care about:

How much of that €300M has become a live, investable, transferable asset on Dusk?

I couldn’t find an equivalent figure showing the amount already circulating inside Dusk Trade.

That doesn’t make the €300M claim meaningless.

It makes the next milestone much more interesting.

Because the real proof isn’t the size of the pipeline.

It’s how much of that pipeline eventually becomes actual onchain assets and actual market activity.

Until then, I think €300M should be read as potential scale rather than the size of a live Dusk market.

@Dusk_Foundation #dusk $DUSK