#nil $NIL @Nillion The order I spent three months setting up was front-run in two minutes
Last winter, I had my eye on a coin that had been moving sideways for nearly three months.
I split my position into ten parts, planning to slowly buy in around 0.42. That night, I finally got my chance. I’d barely placed my first order when the price suddenly jumped to 0.47.
I thought I’d misread it, so I refreshed three times.
Later, someone in the group set me straight: on-chain orders are public. Everyone can see how much you’re ordering and at what price. My three months of patience had basically drawn someone else a map.
I still remember that.
So when I saw Nillion launch Dusk a couple of days ago, my eyes lit up.
Covenants, the tech they’ve built, are basically like putting an envelope around your order. You seal the order you want to place inside and put it on-chain. Until the conditions are met, nobody can read it. Once the price and timestamp line up, the nodes release their key shares, the envelope opens automatically, and the order is executed.
The key is split among a bunch of nodes, one share each. Nobody can peek in advance.
Dusk is the first step for this technology: the first Covenant, launching on Ethereum mainnet on September 28. There are six more phases to come.
$NIL Now around 0.085. I’m not going to talk about the price. I just want to say: if this had existed three years ago, those three months wouldn’t have been for nothing.
Last winter, I had my eye on a coin that had been moving sideways for nearly three months.
I split my position into ten parts, planning to slowly buy in around 0.42. That night, I finally got my chance. I’d barely placed my first order when the price suddenly jumped to 0.47.
I thought I’d misread it, so I refreshed three times.
Later, someone in the group set me straight: on-chain orders are public. Everyone can see how much you’re ordering and at what price. My three months of patience had basically drawn someone else a map.
I still remember that.
So when I saw Nillion launch Dusk a couple of days ago, my eyes lit up.
Covenants, the tech they’ve built, are basically like putting an envelope around your order. You seal the order you want to place inside and put it on-chain. Until the conditions are met, nobody can read it. Once the price and timestamp line up, the nodes release their key shares, the envelope opens automatically, and the order is executed.
The key is split among a bunch of nodes, one share each. Nobody can peek in advance.
Dusk is the first step for this technology: the first Covenant, launching on Ethereum mainnet on September 28. There are six more phases to come.
$NIL Now around 0.085. I’m not going to talk about the price. I just want to say: if this had existed three years ago, those three months wouldn’t have been for nothing.