#dusk $TUT $HEMI $DUSK @Dusk
Alright so... the part of Dusk foundation that keeps nagging me here isn't the dividend.
That's easy enough to understand.
Record date hits. Issuer needs the holder snapshot.
Simple sentence.
Ugly object.
Because Dusk's Phoenix model has already spent the whole time doing exactly what it was supposed to do... balances shielded, transfer relationships hidden, no public cap table sitting there for whoever feels curious.
Good.
Then the Dusk corporate-action workflow asks a much less polite question.
Who actually gets paid?
Thats where I stop thinking of Dusk's selective disclosure as some audit extra on the side. On Dusk, the holder snapshot actually depends on it.
issuer doesn't need every Phoenix balance exposed. It needs enough Phoenix holder evidence to build the set, calculate the dividend, maybe check who was entitled before the cutoff.
Different job.
And now the Phoenix viewing authority starts carrying real money.
I know where I’d look first anyway. Public holder row.
Nope.
So Dusk has to expose exactly enough Phoenix holder state to build the snapshot without turning dividend processing into “please reveal everybody’s Phoenix balance history.”
Lovely.
Too little Phoenix disclosure and one eligible holder can miss the payout file.
Too much, and Phoenix just got partially unwrapped because somebody needed to send a dividend.
Record date fixed. DuskDS state settled. Phoenix ownership valid.
Issuer still waiting on Dusk’s authorized Phoenix view to build the payout file.
Thats the part that keeps scraping at me.
On Dusk I can't read Phoenix ownership and corporate-action entitlement off the same public object. Phoenix keeps the holder state shielded. The issuer still needs selective disclosure to reconstruct the record-date set.
So DuskDS can be done while the dividend workflow is still waiting on the authorized Phoenix view.
Very efficient little mismatch.
Who gets enough Phoenix visibility to build the snapshot?
And who decides they didn’t get too much?
@Dusk_Foundation #Dusk
Alright so... the part of Dusk foundation that keeps nagging me here isn't the dividend.
That's easy enough to understand.
Record date hits. Issuer needs the holder snapshot.
Simple sentence.
Ugly object.
Because Dusk's Phoenix model has already spent the whole time doing exactly what it was supposed to do... balances shielded, transfer relationships hidden, no public cap table sitting there for whoever feels curious.
Good.
Then the Dusk corporate-action workflow asks a much less polite question.
Who actually gets paid?
Thats where I stop thinking of Dusk's selective disclosure as some audit extra on the side. On Dusk, the holder snapshot actually depends on it.
issuer doesn't need every Phoenix balance exposed. It needs enough Phoenix holder evidence to build the set, calculate the dividend, maybe check who was entitled before the cutoff.
Different job.
And now the Phoenix viewing authority starts carrying real money.
I know where I’d look first anyway. Public holder row.
Nope.
So Dusk has to expose exactly enough Phoenix holder state to build the snapshot without turning dividend processing into “please reveal everybody’s Phoenix balance history.”
Lovely.
Too little Phoenix disclosure and one eligible holder can miss the payout file.
Too much, and Phoenix just got partially unwrapped because somebody needed to send a dividend.
Record date fixed. DuskDS state settled. Phoenix ownership valid.
Issuer still waiting on Dusk’s authorized Phoenix view to build the payout file.
Thats the part that keeps scraping at me.
On Dusk I can't read Phoenix ownership and corporate-action entitlement off the same public object. Phoenix keeps the holder state shielded. The issuer still needs selective disclosure to reconstruct the record-date set.
So DuskDS can be done while the dividend workflow is still waiting on the authorized Phoenix view.
Very efficient little mismatch.
Who gets enough Phoenix visibility to build the snapshot?
And who decides they didn’t get too much?
@Dusk_Foundation #Dusk